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Top Ten Pension Plans in India

The pension or the retirement plan allocates savings to accumulate over a fixed tenure, preferably during the earning years of an individual to reap benefits after retirement. A suitable insurance plan assists the individual and the family to deal with their financial needs post-retirement. For a happy and relaxed retirement life, it is important to buy a pension plan at the earliest.

Top Ten Best Pension Plans in India

Pension plans help people to enjoy excellent financial independence so that they can enjoy the retirement period of their life peacefully. The following is the list of the top ten best pension plans in India:

Name of the Plan

Age of Entry

Maturity Age

Unique Features



Pradhan Mantri Vaya Vandana Yojana

10 years

NA

There is no minimum age to invest and the pension will be made through Aadhar linked payment systems.

LIC New Jeevan Shanti

30 years

80 years

Renders long term source of income, with one-time investment. Possible to avail add-ons cover for disabled people. Available in four annuity nodes.

HDFC Life Click 2 Retire

18 years

75 years

Offers the benefit of a pension plan with market-linked returns. Offers death benefit and tax benefits.

Max Life Guaranteed Lifetime Income Plan

45 years

90 years

Offers pension for the policyholders, until the insured and the spouse is alive. Insured can receive the pensions in six annuity options.

ICICI Pru Easy Retirement

18 years

75 years

Offers a steady income for the insured in the retirement years and is available for a term of 10,15,20, 25, and 30 years.

SBI Life-Saral Pension

18 years

70 years

Renders guaranteed income for the initial five years with 2.5% of the sum insured for the first three years and at 2.75% for the rest of the years.

HDFC Life Assured Pension Plan

18 years

75 years

Guarantees vesting benefits along with revenues. Renders loyalty additions from the 11th year of the policy.

Reliance Life Insurance Smart Pension Plan

18 years

75 years

People can choose a policy tenure of 10-30 years along with guaranteed loyalty additions. Insured can also choose a list of optional riders to boost the policy coverage.

Bajaj Allianz Life Pension Guarantee

25 years

80 years

There are six pension options available and is possible to gain a minimum of 1000 rupee per month.  

Aditya Birla Empower Pension Plan

25 years

80 years

The plan offers regular premium paying options along with the flexibility to choose the desired fund option.

You May Also Like to Read: National Pension Scheme (NPS) Quick Guide

What are Retirement Plans? How Do They Work?

Best Term Insurance Plans for Senior Citizens

Final Words

To lead a relaxed and comfortable life post-retirement, it is important to start planning in the present. During old age, where there will not be any energy left to earn and reap money, these pension plans in India can be of tremendous help to meet critical financial needs. When savings get exhausted with daily expenses and medical bills, the pension amount will help people to lead a better quality of life at sunset years.

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