In this video, we take an in-depth look at various pension plans available in the market and compare them on different parameters. We’ll also reveal an astonishing fact that the returns of some pension plans are 25% more than other annuity plans. So, if you’re looking for a secure investment that offers higher returns in the long run, you won’t want to miss this video. Whether you’re just starting to plan for retirement or looking to optimize your existing retirement portfolio, our comprehensive guide will help you make an informed decision and choose the right pension plan that suits your needs.
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Immediate Annuity Plans
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PMVVY
LIC Jeevan Akshay VII
LIC Saral Pension
HDFC Life New Immediate Annuity Plan
HDFC Life Pension Guaranteed Plan
ICICI Pru Guaranteed Pension Plan
HDFC Life Pension Guaranteed Plan
PNB MetLife Immediate Annuity Plan
Tata AIA Fortune Guarantee Pension
Tata AIA Smart Annuity Plan
Deferred Annuity Plans
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LIC Jeevan Shanti
HDFC Life Pension Guaranteed Plan
ICICI Pru Guaranteed Pension Plan
HDFC Life Pension Guaranteed Plan
Tata AIA Fortune Guarantee Pension
Tata AIA Smart Annuity Plan
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Best Pension Plans in India – Which One Is Right For You? | April 2023 Update
Planning for retirement is a crucial step in every individual’s financial journey. A pension plan offers a reliable source of income during the post-retirement years, ensuring a comfortable and stress-free life. However, with numerous options available in the market, choosing the right pension plan can be overwhelming.
To help you make an informed decision, we have compiled a list of the best pension plans in India as of April 2023. These plans offer a combination of attractive features, reliable returns, and flexibility, ensuring a secure future for retirees.
1. LIC Jeevan Akshay VII: LIC Jeevan Akshay VII is a popular choice among individuals seeking a guaranteed income for life. It offers multiple annuity options with options for life, joint life, and return of purchase price, providing flexibility based on individual needs.
2. HDFC Life Click 2 Retire: HDFC Life Click 2 Retire is an online pension plan that provides a wide range of investment options for individuals with varying risk appetites. It offers flexibility in choosing the premium payment term, vesting age, and annuity options.
3. ICICI Pru Easy Retirement: ICICI Pru Easy Retirement offers a unique feature wherein individuals can choose to receive a regular income during their retirement while staying invested. It provides the option to customize the plan as per retirement goals and risk appetite.
4. SBI Life Saral Pension: SBI Life Saral Pension is a simple and straightforward pension plan that offers a regular income during retirement. It provides the flexibility to choose a suitable annuity option along with an additional life cover for added financial security.
5. Max Life Forever Young Pension Plan: Max Life Forever Young Pension Plan is designed to meet long-term retirement goals. It offers the options of a regular income or lump-sum pay-out at vesting, along with a deferred annuity benefit for additional income.
When choosing a pension plan, it is essential to consider factors such as the annuity options, vesting age, premium payment term, and flexibility in withdrawal options. Additionally, understanding the plan’s charges, fund performance, and claim settlement history can further aid the decision-making process.
It is advisable to consult with a financial advisor or utilize online calculators to determine the required corpus and monthly contribution amount for achieving retirement goals. This will help individuals select a pension plan that aligns with their financial objectives and risk tolerance.
As the Indian pension market constantly evolves, it is imperative to stay updated with the latest developments and changes in pension schemes. Regularly reviewing one’s pension plan post-purchase can ensure that it remains aligned with the changing financial landscape and individual needs.
In conclusion, selecting the right pension plan is a crucial decision that can significantly impact an individual’s retirement years. Each of the listed pension plans offers unique features and benefits, catering to different retirement needs. By considering individual preferences and long-term financial goals, one can confidently choose the best pension plan that provides security, income, and peace of mind during retirement.
When I take Pension Plan if spouse age is below 40 I am unable to keep her as Joint Survivor…If I take fist with out Joint survivor and add her name @age 40 is it possible? I am planning to by differed annuity.
Sir meri age 47 years hai..60 ki age se pension chahiye..har mahine premium dena chahte hai.. eksaath paise nahi de sakte …kaun sa plan le???
Can we buy 2 pension plans?
Great stocks and I just bought in on them, but I'm interested in making a short-term profit, let's say turn a $150K to $ 500K in 6 months, I'd appreciate tips on how what stocks to buy to make this much profit.
Is se badiya toh Senior citizens saving scheme mehi mil raha 15 lakh par 1.2 lakh par year
Great one. Sir which one should i buy? i am 36 year please suggest monthly payment plan
Super explanation
Really informative ..thanks for the efforts taken Highly appreciative.
Superb sir
Pls put an Excel link as well
Sir.me.service kansa pensanplan.achahe
Excellent content! It amazes me greatly the way I moved from an average lifestyle to earning over $185k per month, utter shock is the word. I have understood a lot in the past years to doubt that opportunities abound in the financial markets. The only thing is to know where to focus. All thanks goes to Robin Brezik my financial advisor managing my portfolio and my retirement.
22 minute….. Answer financial years
Aap se. Meine ek question puch.. No Answer. Unscribe
109050 for hdfc life new immediate annuity plan is without ROP and with ROP it is 101523 yearly.
Not sure, why someone would choose ROP for Pension plan, similarly joint annuity makes no sense, instead a Term plan for the younger spouse can be chosen, with both these approaches the payable annuity would increase significantly. I am not sure why such basic is not covered, nevertheless good work of consolidating the available plans.
due to diffred plan