Pradhan Mantri Vaya Vandana Yojana 2026 is a social security pension program managed by the Finance Ministry, designed to offer guaranteed monthly income to senior citizens aged 60 and above. This pension initiative is operated in partnership with LIC. Eligible seniors can enroll in the LIC PM Vaya Vandana Yojana plan via the official portal at www.licindia.in. The updated PMVVY LIC Plan 856 requires a one-time lump sum investment. For the 2022-23 fiscal year, the plan offered a fixed pension yield of 7.40% per annum, paid on a monthly basis. This secured return rate remained effective for the entire 10-year policy duration for all enrollments made before March 31, 2023.
LIC PM Vaya Vandana Yojana 2026 provides a consistent pension payout for a fixed tenure of 10 years. The scheme ensures a return rate of 7.4% annually (for the monthly pension option) throughout the 2026 financial year. Under this LIC Pension Plan 856, the total invested capital is refunded to the policyholder upon completion of the 10-year term.
PMVVY Scheme enrollment was originally set to conclude on March 31, 2020, but the central government extended the deadline by three years, establishing a final cutoff date of March 31, 2023. Pension payments are disbursed at the end of each chosen interval, with the first payout occurring one month after enrollment if the monthly mode is selected. In the event of the pensioner's passing during the 10-year term, the full purchase price is returned to the designated nominees or legal heirs.
Apply for LIC PMVVY Pension Online
The Pradhan Mantri Vaya Vandana Yojana underwent government-led revisions in May 2020. This non-linked, non-participating pension plan is supported by the Indian government. Under updated guidelines, interest rates are reviewed and set by the Ministry of Finance at the start of every fiscal year. The program remained active until March 31, 2023.
PMVVY 2026 Application Process
You can access the PMVVY application forms through the official LIC website or by visiting your local LIC branch. Alternatively, you can complete the registration process online by following these steps: