Top 10 Pension Plan in India 2018 : Best Pension Schemes

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best pension plan in india

Best Pension Plan in India 2018

Check out the top 10 pension plan in India for your retirement planning. There are various retirement plans available with different insurance companies. Each of the plan offers different benefits. The pension plans are great way to protect your economic security after the retirement age.

There are many top retirement pension plans in India planned to facilitate you to make your retirement resources secure to have the benefit of your post-retirement returns. In this blog, we provide you the information about top most retirement saving plans in India.

check EPF pension status online

 

best pension plan in india

 

Best Retirement Pension Plans in India

Listing the best retirement plans of India. Planning your retirement savings is important. Especially if you do not have economic securities like employee provident fund, it is good to secure money with these pension plans.

  1. Reliance Smart Pension

You can build a retirement saving to live a tension free life as a senior citizen. The Reliance smart pension plan allows to enhance wealth through market participation. Tax benefits are available on the commuted part of the pension amount. The age limit for subscribing reliance smart pension program is from 18 years to 65 years. The limits of maturity age is from 45 to 75 years.

Download forms:

  1. passport application form online
  2. EPF Transfer Form 11
  3. Aadhar card correction form
  1. SBI Life-Saral Pension: SBI Pension Plan

The SBI Life-Saral Pension carries plenteous allowances and various features. It is one of the best retirement plan in India and this is why most people choose this pension plan. The least possible ranging age of the customers is from eighteen years to sixty-five years. The plan offers additional benefit for within limits for five years from the time of plan investment. The annually premium expense is rupees seven thousand one hundred.

  1. LIC Jeevan Akshay 6 Plan:

The LIC Jeevan Akshay 6 Plan is a speedy pension plan.  You can buy this retirement plan by giving the lump figure amount as a single down payment.  The allowance starts instantly after purchasing the retirement saving plan. A person who is thirty years to eighty-five years old can choose this pension plan. There is no limit to buy the annuity; it is once-a-month, periodical or yearly. It depends on one’s own liking. The plan as well ensures tariff exclusion paybacks.

  1. Max Life Guaranteed Lifetime Income Plan:

The Max Life Guaranteed Lifetime Income plan, a non-linked conventional pension scheme. It reassures the customer of well-organized returns after the retirement stage. The pension plan enables the compliance to pay-out immediately a lump sum amount as per invest in the policy. There are 4 pension preferences to choose from. He or she can also select the range of sum that they wish to get arranged a monthly base. There is moreover an alternative to obtain lifetime costs for as you and your partner are alive. The whole sum of the policy pays back to the nominees after the passing away of the policyholder.

  1. HDFC Life- Assured Pension Plan – HDFC Pension Plan

The HDFC Life- Assured Plan is a Unit Linked Plan (ULP). It deals marketplace linked incomes to the policy buyers to secure maximum profits. This retirement pension plan agrees to the customers to achieve constancy privilege if they remain the plan standing for minimum eleven years. One can invest in the plan from the age of eighteen years to forty-five years. The choice of limited, single pay in the scheme. According to the Income Tax act 1961, under the section 80C & the section 10(10D), the pension plan offers Tax exemptions.

 

pension plan

 

  1. LIC Jeevan Nidhi Plan

This retirement pension plan is a very beneficial LIC pension plan. The collect income of the retirement program for the policy buyer depends on the durability of conditions of the policy. The policy term choices for five to thirty-five years. The least applying age is fifty-five years. The policyholder will be given certain accumulation of fifty rupees per thousand amounts after the end of the year. Particular premium plans offer the minimum yearly return is of rupees one lakh and fifty thousand. It also increases pays to the administration as of the six years of the survival.

  1. Birla Sun Life Empower Pension

Birla Sun Life Empower Pension is a plan to provide accommodations the style of living of policyholder. It is a nonparticipating retirement plan, claims itself taking place the policy terms that are put up the buyer requirements.  A policyholder can select the investing time to have inventory period of five years to thirty years, the limits of age and premium amounts.  It is on the bases of a risk profile.  In 2017, 1st July onwards 18% of GST applied on life insurance.

  1. Bajaj Allianz Pension Guarantee

This pension plan guarantees the buyer who aims for a consistent income after retirement. With a sort of pension preference to pick from and a lowest instalment of one thousand rupees, there is also option of extend to your spouse. Minimum purchase price of the pension plan is twenty five thousand rupees and there isn’t maximum limit. A buyer can select one from the 6 pension alternatives. One can choose the plan from the age of thirty seven to eighty years.

  1. ICICI Prudential- Easy retirement

The ICICI Prudential- Easy retirement pension plan supports the policyholder to get fixed returns after retirement of his or her investing. The incomes are depending on the market instability and circumstances. The plan duration ranges in the age from ten to thirty years. Smallest premium paid of forty thousand every year and there is no maximum limit. The policyholder investing age is of forty five to seventy years. There are as well advantages on premium and paybacks. The customer can pay on occurrence mode as once-a-month, semi-annually or once a year.

  1. Pradhan Mantri Vaya Vandana Yojana – PMVVY

An Indian Government ensures publicized Pradhan Mantri Vaya Vandana Yojana for civilian age of sixty years and above. It was launched on 4th May in 2017, and be going to remain accessible for one year after the launching. A policyholder can purchase the scheme online and also offline.

The minimum entrance age is after completed sixty years and there is no maximum limit. The policy term range is ten years. The minimum pension for per month is one thousand rupees and maximum amount is five thousand. For per quarter the minimum allowance is three thousand rupees and maximum sum is fifteen thousand rupees. A pensioner receives for half year the annuity is six thousand rupees and maximum amount is thirty thousand rupees. The yearly retirement minimum income is twelve thousand and maximum volume is sixty thousand rupees. There is also loan facility offered to the policy holder after accomplishment of three policy years.

These retirement pension plans in India run a stress-free retirement design for individuals. Choose the best plan as per your requirement. Also check national pension scheme account opening procedure on our blog.