Top 5 Pension Plan in India, Retirement Planning, Happy Retirement, Atal Pension Yojna, Post office Monthly Income Scheme, Pradhan Mantri Vaya Vandana Yojna, LIC Akshay pension Plan, EPF Pension, Employee Provident fund oragnisation, Employee Pension Scheme, POMIS, PMVVY, APY, EPFO, EPS, LIC PLAN, Best Pension plan,

#POMIS #PMVVVY #APY #EPS…(read more)

LEARN MORE ABOUT: Retirement Pension Plans

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

Retirement planning is a crucial aspect of financial management. People need to start planning for their retirement as early as possible to ensure that they have a secure and comfortable life after they stop working. One of the best ways to plan for retirement is by investing in a pension plan. A pension plan is a long-term investment plan, which helps people accumulate funds that can be used during their retirement years. In this article, we will discuss the best pension plans available in India.

1. Atal Pension Yojana (APY)

Atal Pension Yojana is a government pension scheme, which was launched in 2015. The scheme is designed to provide a sustainable pension to the citizens of India, mainly from the unorganized sector. The APY is a defined benefit scheme and offers guaranteed minimum pension ranging from Rs 1000 to Rs 5000 per month. The scheme can be subscribed to by the age group of 18-40 years and the contributions to the scheme can be made until the age of 60 years.

2. National Pension Scheme (NPS)

The National Pension Scheme is a government-backed pension scheme launched in 2004. It is a market-linked pension plan, which allows subscribers to choose their investment option from equity, corporate bonds, and government securities. The NPS scheme is open to all citizens of India, including NRIs. Contributions to the scheme are eligible for tax deductions, and subscribers can withdraw up to 60% of the fund’s value as a lump sum during retirement.

3. LIC Jeevan Akshay VI

The LIC Jeevan Akshay VI is a popular pension plan, offered by the Life Insurance Corporation of India (LIC). It is a non-linked, immediate annuity plan which provides a regular income to the policyholder for their lifetime. The plan can be purchased with a one-time investment and offers 10 different options for annuity payouts. The annuity rate is based on the amount invested, the age of the policyholder and the chosen annuity option.

4. HDFC Life – Click 2 Retire

The HDFC Life-Click 2 Retire is an online pension plan, which offers a range of investment options including equity, debt, and balanced fund to the subscribers. The plan has a minimum entry age of 18 years and allows contributions until the age of 65 years. The plan offers tax benefits and policyholders can choose to receive pension payouts either monthly, quarterly, half-yearly or annually.

5. SBI Life – retire smart

SBI Life – retire smart is a unit linked pension plan offered by the State Bank of India (SBI). The plan offers a range of investment options including equity, debt and hybrid options. The plan has a minimum entry age of 18 years and allows contributions until the age of 70 years. The plan allows partial withdrawal from the fund after the completion of the fifth policy year.

Conclusion

Planning for retirement is crucial as it ensures financial security and independence after retirement. Choosing the right pension plan is an essential aspect of retirement planning. The above-mentioned pension plans are some of the best pension plans available in India. Before choosing a pension plan, it’s important to understand the features and benefits of the plan and select a plan that suits your financial goals and requirements.