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How to Apply for PM Vaya Vandana Yojana 2026

PMVVY - LIC pension for seniors 60+. 7.4% guaranteed 10 years. Max ₹15L per senior.

📁 Schemes ⏱️ 20-30 mins 💰 Premium based

About This Guide

PMVVY senior citizen pension by LIC. Guaranteed 7.40% for 10 years. Max ₹15L per senior (₹30L per couple). Monthly pension ₹1,000-9,250 based on investment. 10-year maturity returns purchase price + final pension.

Eligibility Criteria

Indian citizen 60+
No upper age limit
Maximum ₹15L per senior
₹30L for couple combined
Both spouses can buy separately

Documents Required

Keep these documents ready before starting application. Missing documents = delayed approval.

Aadhaar
PAN
Address proof
Age proof
Bank account
Cancelled cheque
LIC application form

Step-by-Step Application Process

Follow these steps in order. Each step is critical - skip none.

Visit LIC

licindia.in or nearest LIC branch.

Choose Investment

Min ₹1.5L (₹1K monthly), Max ₹15L (₹9,250 monthly).

Choose Frequency

Monthly/Quarterly/Half-yearly/Yearly.

Fill Application

Personal, nominee, payment mode, amount.

Submit Documents

Aadhaar, PAN, age proof.

Pay Premium

Lump sum via cheque/NEFT.

Receive Policy

Bond in 7-15 days.

Pension Starts

Per chosen frequency. Auto-credit.

Key Benefits

7.4% guaranteed 10 years
Backed by LIC + Govt
Multiple pension frequencies
Max ₹9,250 monthly
Maturity returns principal
Tax 80C benefits
Both spouses eligible

What Happens After Application?

Pension begins per chosen mode. 10 years. At maturity, principal + final pension. Stable retirement income.

Frequently Asked Questions

PMVVY active?

Original ended March 2023. May relaunch. SCSS alternative.

PMVVY vs SCSS?

PMVVY 7.4%, 10 years. SCSS 8.2%, 5 years. SCSS often higher.