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<!-- Generated by DFIN XBRL Schema Document - http://www.dfinsolutions.com/ - on 10-06-2026 12:24:50 PM -->
<!-- Copyright(c) 2026 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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					<link:loc xlink:type="locator" xlink:href="#vpiif_ConcentrationRiskMember" xlink:label="ConcentrationRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="ConcentrationRiskMember" order="15.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_NonDiversificationRiskMember" xlink:label="NonDiversificationRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="NonDiversificationRiskMember" order="16.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_CybersecurityRiskMember" xlink:label="CybersecurityRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="CybersecurityRiskMember" order="17.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_ExpenseRiskMember" xlink:label="ExpenseRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="ExpenseRiskMember" order="18.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_PortfolioSelectionRiskMember" xlink:label="PortfolioSelectionRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="PortfolioSelectionRiskMember" order="19.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RepurchaseOffersRiskMember" xlink:label="RepurchaseOffersRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="RepurchaseOffersRiskMember" order="20.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_AntiTakeoverProvisionsMember" xlink:label="AntiTakeoverProvisionsMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="AntiTakeoverProvisionsMember" order="21.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfInvestingInLoansMember" xlink:label="RisksOfInvestingInLoansMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="RisksOfInvestingInLoansMember" order="22.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_CollateralRiskMember" xlink:label="CollateralRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="CollateralRiskMember" order="23.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RiskOfDisadvantagedAccessToConfidentialInformationMember" xlink:label="RiskOfDisadvantagedAccessToConfidentialInformationMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="RiskOfDisadvantagedAccessToConfidentialInformationMember" order="24.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfSubordinatedSecuritiesMember" xlink:label="RisksOfSubordinatedSecuritiesMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="RisksOfSubordinatedSecuritiesMember" order="25.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_USTreasuryObligationsRiskMember" xlink:label="USTreasuryObligationsRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="USTreasuryObligationsRiskMember" order="26.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_USGovernmentAgencyObligationsRiskMember" xlink:label="USGovernmentAgencyObligationsRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="USGovernmentAgencyObligationsRiskMember" order="27.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_CreditDefaultSwapRiskMember" xlink:label="CreditDefaultSwapRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="CreditDefaultSwapRiskMember" order="28.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfInvestingInInverseFloatingRateObligationsMember" xlink:label="RisksOfInvestingInInverseFloatingRateObligationsMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="RisksOfInvestingInInverseFloatingRateObligationsMember" order="29.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_MortgageDollarRollTransactionsRiskMember" xlink:label="MortgageDollarRollTransactionsRiskMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="MortgageDollarRollTransactionsRiskMember" order="30.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember" xlink:label="RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember" order="31.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfInvestmentInOtherFundsMember" xlink:label="RisksOfInvestmentInOtherFundsMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="RisksOfInvestmentInOtherFundsMember" order="32.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_TotalExpensesIncurredOnAOneThousandInvestmentMember" xlink:label="TotalExpensesIncurredOnAOneThousandInvestmentMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="TotalExpensesIncurredOnAOneThousandInvestmentMember" order="33.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_TotalExpensesIncurredOnAOneMillionInvestmentMember" xlink:label="TotalExpensesIncurredOnAOneMillionInvestmentMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="TotalExpensesIncurredOnAOneMillionInvestmentMember" order="34.0"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_DerivativesRisksMember" xlink:label="DerivativesRisksMember"/>
					<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllRisksMember" xlink:to="DerivativesRisksMember" order="35.0"/>
				</link:definitionLink>
				<link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
					<link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CreditRiskMember" xlink:label="CreditRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_CreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditRiskMember" xlink:to="label_CreditRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_GeneralMember" xlink:label="GeneralMember"/>
					<link:label xlink:type="resource" xlink:label="label_GeneralMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">General [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralMember" xlink:to="label_GeneralMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfInvestingInInsuranceLinkedSecuritiesMember" xlink:label="RisksOfInvestingInInsuranceLinkedSecuritiesMember"/>
					<link:label xlink:type="resource" xlink:label="label_RisksOfInvestingInInsuranceLinkedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks of investing in insurance linked securities [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksOfInvestingInInsuranceLinkedSecuritiesMember" xlink:to="label_RisksOfInvestingInInsuranceLinkedSecuritiesMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfInvestingInStructuredReinsuranceInvestmentsMember" xlink:label="RisksOfInvestingInStructuredReinsuranceInvestmentsMember"/>
					<link:label xlink:type="resource" xlink:label="label_RisksOfInvestingInStructuredReinsuranceInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks of investing in structured reinsurance investments [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksOfInvestingInStructuredReinsuranceInvestmentsMember" xlink:to="label_RisksOfInvestingInStructuredReinsuranceInvestmentsMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_ILSMarketAndReinvestmentRiskMember" xlink:label="ILSMarketAndReinvestmentRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_ILSMarketAndReinvestmentRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ILS market and reinvestment risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ILSMarketAndReinvestmentRiskMember" xlink:to="label_ILSMarketAndReinvestmentRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_MarketRisksMember" xlink:label="MarketRisksMember"/>
					<link:label xlink:type="resource" xlink:label="label_MarketRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Market risks [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketRisksMember" xlink:to="label_MarketRisksMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_HighYieldOrJunkBondRiskMember" xlink:label="HighYieldOrJunkBondRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_HighYieldOrJunkBondRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">High yield or junk bond risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HighYieldOrJunkBondRiskMember" xlink:to="label_HighYieldOrJunkBondRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_PrepaymentOrCallRiskMember" xlink:label="PrepaymentOrCallRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_PrepaymentOrCallRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prepayment or call risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentOrCallRiskMember" xlink:to="label_PrepaymentOrCallRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RiskOfIlliquidInvestmentsMember" xlink:label="RiskOfIlliquidInvestmentsMember"/>
					<link:label xlink:type="resource" xlink:label="label_RiskOfIlliquidInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risk of illiquid investments [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RiskOfIlliquidInvestmentsMember" xlink:to="label_RiskOfIlliquidInvestmentsMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfNonUSInvestmentsMember" xlink:label="RisksOfNonUSInvestmentsMember"/>
					<link:label xlink:type="resource" xlink:label="label_RisksOfNonUSInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks of non U S investments [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksOfNonUSInvestmentsMember" xlink:to="label_RisksOfNonUSInvestmentsMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_ForwardForeignCurrencyTransactionsRiskMember" xlink:label="ForwardForeignCurrencyTransactionsRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_ForwardForeignCurrencyTransactionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Forward foreign currency transactions risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForwardForeignCurrencyTransactionsRiskMember" xlink:to="label_ForwardForeignCurrencyTransactionsRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_LeveragingRiskMember" xlink:label="LeveragingRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_LeveragingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Leveraging risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeveragingRiskMember" xlink:to="label_LeveragingRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_TaxAndRegulatedInvestmentCompanyQualificationRiskMember" xlink:label="TaxAndRegulatedInvestmentCompanyQualificationRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_TaxAndRegulatedInvestmentCompanyQualificationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tax and regulated investment company qualification risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAndRegulatedInvestmentCompanyQualificationRiskMember" xlink:to="label_TaxAndRegulatedInvestmentCompanyQualificationRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_ValuationRiskMember" xlink:label="ValuationRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_ValuationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Valuation risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValuationRiskMember" xlink:to="label_ValuationRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_ConcentrationRiskMember" xlink:label="ConcentrationRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_ConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Concentration risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationRiskMember" xlink:to="label_ConcentrationRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_NonDiversificationRiskMember" xlink:label="NonDiversificationRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_NonDiversificationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Non diversification risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonDiversificationRiskMember" xlink:to="label_NonDiversificationRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_CybersecurityRiskMember" xlink:label="CybersecurityRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_CybersecurityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cybersecurity risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CybersecurityRiskMember" xlink:to="label_CybersecurityRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_ExpenseRiskMember" xlink:label="ExpenseRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_ExpenseRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Expense risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseRiskMember" xlink:to="label_ExpenseRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_PortfolioSelectionRiskMember" xlink:label="PortfolioSelectionRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_PortfolioSelectionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Portfolio selection risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortfolioSelectionRiskMember" xlink:to="label_PortfolioSelectionRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RepurchaseOffersRiskMember" xlink:label="RepurchaseOffersRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_RepurchaseOffersRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repurchase offers risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseOffersRiskMember" xlink:to="label_RepurchaseOffersRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_AntiTakeoverProvisionsMember" xlink:label="AntiTakeoverProvisionsMember"/>
					<link:label xlink:type="resource" xlink:label="label_AntiTakeoverProvisionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Anti takeover provisions [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AntiTakeoverProvisionsMember" xlink:to="label_AntiTakeoverProvisionsMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfInvestingInLoansMember" xlink:label="RisksOfInvestingInLoansMember"/>
					<link:label xlink:type="resource" xlink:label="label_RisksOfInvestingInLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks of investing in loans [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksOfInvestingInLoansMember" xlink:to="label_RisksOfInvestingInLoansMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_CollateralRiskMember" xlink:label="CollateralRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_CollateralRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Collateral risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CollateralRiskMember" xlink:to="label_CollateralRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RiskOfDisadvantagedAccessToConfidentialInformationMember" xlink:label="RiskOfDisadvantagedAccessToConfidentialInformationMember"/>
					<link:label xlink:type="resource" xlink:label="label_RiskOfDisadvantagedAccessToConfidentialInformationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risk of disadvantaged access to confidential information [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RiskOfDisadvantagedAccessToConfidentialInformationMember" xlink:to="label_RiskOfDisadvantagedAccessToConfidentialInformationMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfSubordinatedSecuritiesMember" xlink:label="RisksOfSubordinatedSecuritiesMember"/>
					<link:label xlink:type="resource" xlink:label="label_RisksOfSubordinatedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks of subordinated securities [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksOfSubordinatedSecuritiesMember" xlink:to="label_RisksOfSubordinatedSecuritiesMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_USTreasuryObligationsRiskMember" xlink:label="USTreasuryObligationsRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_USTreasuryObligationsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">U S Treasury obligations risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USTreasuryObligationsRiskMember" xlink:to="label_USTreasuryObligationsRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_USGovernmentAgencyObligationsRiskMember" xlink:label="USGovernmentAgencyObligationsRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_USGovernmentAgencyObligationsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">U S government agency obligations risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USGovernmentAgencyObligationsRiskMember" xlink:to="label_USGovernmentAgencyObligationsRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_CreditDefaultSwapRiskMember" xlink:label="CreditDefaultSwapRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_CreditDefaultSwapRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit default swap risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditDefaultSwapRiskMember" xlink:to="label_CreditDefaultSwapRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfInvestingInInverseFloatingRateObligationsMember" xlink:label="RisksOfInvestingInInverseFloatingRateObligationsMember"/>
					<link:label xlink:type="resource" xlink:label="label_RisksOfInvestingInInverseFloatingRateObligationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks of investing in inverse floating rate obligations [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksOfInvestingInInverseFloatingRateObligationsMember" xlink:to="label_RisksOfInvestingInInverseFloatingRateObligationsMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_MortgageDollarRollTransactionsRiskMember" xlink:label="MortgageDollarRollTransactionsRiskMember"/>
					<link:label xlink:type="resource" xlink:label="label_MortgageDollarRollTransactionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mortgage dollar roll transactions risk [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageDollarRollTransactionsRiskMember" xlink:to="label_MortgageDollarRollTransactionsRiskMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember" xlink:label="RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember"/>
					<link:label xlink:type="resource" xlink:label="label_RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks of zero coupon bonds payment in kind deferred and contingent payment securities [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember" xlink:to="label_RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_RisksOfInvestmentInOtherFundsMember" xlink:label="RisksOfInvestmentInOtherFundsMember"/>
					<link:label xlink:type="resource" xlink:label="label_RisksOfInvestmentInOtherFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Risks of investment in other funds [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RisksOfInvestmentInOtherFundsMember" xlink:to="label_RisksOfInvestmentInOtherFundsMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_CommonSharesMember" xlink:label="CommonSharesMember"/>
					<link:label xlink:type="resource" xlink:label="label_CommonSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Shares [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonSharesMember" xlink:to="label_CommonSharesMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_WithoutARepurchaseMember" xlink:label="WithoutARepurchaseMember"/>
					<link:label xlink:type="resource" xlink:label="label_WithoutARepurchaseMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Without A Repurchase [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WithoutARepurchaseMember" xlink:to="label_WithoutARepurchaseMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_TotalExpensesIncurredOnAOneThousandInvestmentMember" xlink:label="TotalExpensesIncurredOnAOneThousandInvestmentMember"/>
					<link:label xlink:type="resource" xlink:label="label_TotalExpensesIncurredOnAOneThousandInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Expenses Incurred On A One Thousand Investment [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalExpensesIncurredOnAOneThousandInvestmentMember" xlink:to="label_TotalExpensesIncurredOnAOneThousandInvestmentMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_TotalExpensesIncurredOnAOneMillionInvestmentMember" xlink:label="TotalExpensesIncurredOnAOneMillionInvestmentMember"/>
					<link:label xlink:type="resource" xlink:label="label_TotalExpensesIncurredOnAOneMillionInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Expenses Incurred On A One Million Investment [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalExpensesIncurredOnAOneMillionInvestmentMember" xlink:to="label_TotalExpensesIncurredOnAOneMillionInvestmentMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_WithARepurchaseMember" xlink:label="WithARepurchaseMember"/>
					<link:label xlink:type="resource" xlink:label="label_WithARepurchaseMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">With A Repurchase [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WithARepurchaseMember" xlink:to="label_WithARepurchaseMember"/>
					<link:loc xlink:type="locator" xlink:href="#vpiif_DerivativesRisksMember" xlink:label="DerivativesRisksMember"/>
					<link:label xlink:type="resource" xlink:label="label_DerivativesRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivatives risks [Member]</link:label>
					<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativesRisksMember" xlink:to="label_DerivativesRisksMember"/>
				</link:labelLink>
			</link:linkbase>
		</appinfo>
	</annotation>
	<import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
	<import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
	<import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
	<import namespace="http://xbrl.sec.gov/dei/2025" schemaLocation="https://xbrl.sec.gov/dei/2025/dei-2025.xsd"/>
	<import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd"/>
	<import namespace="http://xbrl.sec.gov/cef/2025" schemaLocation="https://xbrl.sec.gov/cef/2025/cef-2025.xsd"/>
	<import namespace="http://xbrl.sec.gov/cef-pre/2025" schemaLocation="https://xbrl.sec.gov/cef/2025/cef-2025_pre.xsd"/>
	<import namespace="http://xbrl.sec.gov/fnd-cef-pre/2025" schemaLocation="https://xbrl.sec.gov/fnd/2025/fnd-cef-2025_pre.xsd"/>
	<element name="GeneralMember" id="vpiif_GeneralMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RisksOfInvestingInInsuranceLinkedSecuritiesMember" id="vpiif_RisksOfInvestingInInsuranceLinkedSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RisksOfInvestingInStructuredReinsuranceInvestmentsMember" id="vpiif_RisksOfInvestingInStructuredReinsuranceInvestmentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="ILSMarketAndReinvestmentRiskMember" id="vpiif_ILSMarketAndReinvestmentRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="MarketRisksMember" id="vpiif_MarketRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="HighYieldOrJunkBondRiskMember" id="vpiif_HighYieldOrJunkBondRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="PrepaymentOrCallRiskMember" id="vpiif_PrepaymentOrCallRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RiskOfIlliquidInvestmentsMember" id="vpiif_RiskOfIlliquidInvestmentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RisksOfNonUSInvestmentsMember" id="vpiif_RisksOfNonUSInvestmentsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="ForwardForeignCurrencyTransactionsRiskMember" id="vpiif_ForwardForeignCurrencyTransactionsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="LeveragingRiskMember" id="vpiif_LeveragingRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="TaxAndRegulatedInvestmentCompanyQualificationRiskMember" id="vpiif_TaxAndRegulatedInvestmentCompanyQualificationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="ValuationRiskMember" id="vpiif_ValuationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="ConcentrationRiskMember" id="vpiif_ConcentrationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="NonDiversificationRiskMember" id="vpiif_NonDiversificationRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="CybersecurityRiskMember" id="vpiif_CybersecurityRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="ExpenseRiskMember" id="vpiif_ExpenseRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="PortfolioSelectionRiskMember" id="vpiif_PortfolioSelectionRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RepurchaseOffersRiskMember" id="vpiif_RepurchaseOffersRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="AntiTakeoverProvisionsMember" id="vpiif_AntiTakeoverProvisionsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RisksOfInvestingInLoansMember" id="vpiif_RisksOfInvestingInLoansMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="CollateralRiskMember" id="vpiif_CollateralRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RiskOfDisadvantagedAccessToConfidentialInformationMember" id="vpiif_RiskOfDisadvantagedAccessToConfidentialInformationMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RisksOfSubordinatedSecuritiesMember" id="vpiif_RisksOfSubordinatedSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="USTreasuryObligationsRiskMember" id="vpiif_USTreasuryObligationsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="USGovernmentAgencyObligationsRiskMember" id="vpiif_USGovernmentAgencyObligationsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="CreditDefaultSwapRiskMember" id="vpiif_CreditDefaultSwapRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RisksOfInvestingInInverseFloatingRateObligationsMember" id="vpiif_RisksOfInvestingInInverseFloatingRateObligationsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="MortgageDollarRollTransactionsRiskMember" id="vpiif_MortgageDollarRollTransactionsRiskMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember" id="vpiif_RisksOfZeroCouponBondsPaymentInKindDeferredAndContingentPaymentSecuritiesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="RisksOfInvestmentInOtherFundsMember" id="vpiif_RisksOfInvestmentInOtherFundsMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="CommonSharesMember" id="vpiif_CommonSharesMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="WithoutARepurchaseMember" id="vpiif_WithoutARepurchaseMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="TotalExpensesIncurredOnAOneThousandInvestmentMember" id="vpiif_TotalExpensesIncurredOnAOneThousandInvestmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="TotalExpensesIncurredOnAOneMillionInvestmentMember" id="vpiif_TotalExpensesIncurredOnAOneMillionInvestmentMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="WithARepurchaseMember" id="vpiif_WithARepurchaseMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<element name="DerivativesRisksMember" id="vpiif_DerivativesRisksMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
</schema>
