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Top pension plans in India to consider for investment


 Top pension plans in India to consider for investment
There are several retirement and pension plans in India, that help you achieve financial stability when you decide to retire. There are also retirement and pension plans that can provide an income to your spouse, on the sad demise of your death. Here are a few good retirement/pension plans to consider:

LIC Jeevan Akshay VI


LIC Jeeven Akshay VI is an immediate annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.

BSLI Classic Life Plan works

The good thing about the Birla Sun Life Classic Life Plan is you can select the savings date that suits your retirement goals and invest accordingly. You will receive a basic sum assured which is the minimum death benefit payable on the demise of the life insured. The Self-Managed Option gives you complete access to invest your premiums in our well established suite of 10 Investment Funds, ranging from 100 per cent debt to 100 per cent equity. You also enjoy full freedom to switch from one Investment Fund.

ICICI Pru Immediate Annuity plan

Under ICICI Pru Immediate Annuity plan a guaranteed annuity is paid for the chosen term (5/10/15) and after that, the annuity continues as long as the annuitant is alive. The annuity is first paid to the annuitant. After the death of the annuitant, the spouse receives a pension which is an amount that is equal to the annuity paid to the annuitant. After the death of the last survivor, the purchase price is returned to the nominee.

Bajaj Allianz Pension Guarantee Plan

The Pension Guarantee Plan from Bajaj Allianz ensures regular Income after retirement for Life. The plan offers you a range of immediate annuities to choose from. Under all options, annuity is payable for life, so you don't have to worry about your income stopping at any age.

Read more about: pension plans
Story first published: Thursday, May 16, 2013, 9:08 [IST]
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