Pradhan Mantri Vaya Vandana Yojana

Calculate monthly pension, annual income, and total returns from PMVVY. LIC-administered pension scheme for senior citizens with government-guaranteed 7.4% returns.

PMVVY — Pradhan Mantri Vaya Vandana Yojana Calculator

Monthly / quarterly pension and 10-year total return from PMVVY

Purchase price Rs 15L
Rs 1.56LRs 15L
Rs
Pension frequency
Breakdown
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Scheme details based on current government rules. Always verify latest eligibility and benefits at official portals before applying.

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PMVVY is administered by LIC and offers a guaranteed 7.4% effective return (slightly lower than SCSS at 8.2%), but gives pension flexibility — monthly, quarterly, half-yearly, or annual. Maximum purchase price is Rs 15 lakh per senior citizen. Unlike SCSS, PMVVY is an annuity-type product — the purchase amount is not fully returned at the end, but the pension is guaranteed for 10 years regardless of market conditions.

PMVVY — Pradhan Mantri Vaya Vandana Yojana Calculator

Calculate monthly pension, annual income, and total returns from PMVVY. LIC-administered pension scheme for senior citizens with government-guaranteed 7.4% returns.

Frequently asked questions

What is the difference between PMVVY and SCSS?▼
SCSS: 5-year term (extendable), 8.2% p.a., quarterly interest paid, principal fully returned at maturity, maximum Rs 30 lakh per person. PMVVY: 10-year term, 7.4% effective return, pension paid in chosen frequency, purchase amount (minus pension portion) returned at end of 10 years, maximum Rs 15 lakh per person. SCSS offers higher returns; PMVVY offers longer 10-year guaranteed pension.
How is PMVVY pension calculated?▼
Monthly pension = Purchase Price × 7.4% / 12. For Rs 15 lakh: Rs 15,00,000 × 7.4% / 12 = Rs 9,250/month. Annual mode: Rs 15 lakh × 7.4% = Rs 1,11,000/year. Purchase price ranges from Rs 1.56 lakh (for Rs 1,000/month pension) to Rs 15 lakh (for Rs 9,250/month pension). The scheme closed for fresh subscriptions — check LIC for current status.
What happens if the pensioner dies during PMVVY term?▼
If the pensioner dies during the 10-year policy term, the purchase price is returned to the nominee. There is no death penalty or deduction. If the pensioner survives the full 10 years, the purchase price is returned and pension payments stop. Early exit is allowed after 3 years if money is needed for critical illness treatment, but surrender value is 98% of purchase price.

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