There is a piece of big and good news for senior citizens. Yes, now the government has started 'PM Vaya Vandana Yojana' for people above 60 years of age. Yes and under this you can get a pension of up to Rs 1,11,000 annually (Senior Citizens Savings Scheme). Let us tell you that the Pradhan Mantri Vaya Vandana Yojana has been started to make the elderly financially self-reliant at the crucial stage of their life. While its period was till March 31, 2020, now it has been extended till March, 2023.

Who will get the benefit- It is being told that the minimum age to join this scheme is 60 years. This means that citizens of 60 years or above can invest in it. Yes, and there is no upper age limit under this.

LIC has got the responsibility- It is being told that a person can invest up to a maximum of Rs 15 lakh in this scheme. Not only this, the responsibility of operating this scheme has been entrusted to Life Insurance Corporation (LIC). Yes, and you have to invest a lump sum amount for pension in this scheme. In such a situation, you can opt for monthly, quarterly, half-yearly or annual pension.

How much will you get an annual pension- Under this scheme, you will have to invest Rs 1,62,162 for a pension of Rs 1000 per month, not only this, but the maximum monthly pension under this scheme is Rs 9,250, quarterly Rs 27,750, half-yearly pension Rs 55,500 and annual The pension is given at Rs 1,11,000.

How to invest- Let us tell you that you can dial 022-67819281 or 022-67819290 for detailed information about the PMVVY scheme. Apart from this, you can also dial a toll-free number – 1800-227-717.

Exemption in Service Tax- Let us also inform you that this scheme is exempted from Service Tax and GST. And the most important thing is that you can also withdraw this money ahead of time for the treatment of any serious illness or spouse.

Important Documents- According to the news received, for investing in Pradhan Mantri Vaya Vandana Yojana, it is mandatory for you to have a copy of the PAN card, a copy of the address proof, and a copy of the first page of the bank passbook.

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