Question
Under Pradhan Mantri Vaya Vandana Yojana (PMVVY) what is
the minimum monthly purchase price?Solution
PMVVY is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which is available from May 04, 2017 to March 31, 2023
Under this scheme an initial lump sum payment of any amount between Rs.1.5 lakh to Rs.15 lakh will entitle the individual for a monthly pension of Rs.1,000 per month to Rs.9,250 per month depending on the payment made. The details of maximum and minimum purchase price and pension is sumamrised below:
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