Top 10 Pension Plans in India
- LIC Jeevan Akshay 6 Plan:
- LIC Jeevan Nidhi Plan:
- SBI Life Saral Pension plan:
- HDFC Life – Click2Retire:
- HDFC Life – Assured Pension Plan:
- ICICI Pru – Easy Retirement:
- Reliance – Smart Pension:
- Bajaj Allianz – Pension Guarantee:
Accordingly, how do I get a 50000 pension per month?
Suppose an investor begins investing in the NPS at 30 years of age to receive Rs. 50,000 as pension amount per month post-retirement around 60 years of age. The amount he/she needs to invest per month will be approximately Rs. 12,500 to fetch a pension amount of Rs.
| Plans | Entry Age |
|---|---|
| ICICI Prudential Immediate Annuity Plan | Min-20,30,55 (years) Max-100 years |
| IDBI Federal Guaranteed Lifetime Income Plan | Min- 45/50 (years) Max- 85 years |
| India First Immediate Annuity Plan | Min- 40 years Max-80 years |
| Kotak Lifetime Income Plan | Min-45 / 55 (years) Max-99 years |
Likewise, is HDFC pension plan good?
The best among HDFC Life Pension Plan generally varies as per the policyholder’s needs. … It is a non-participating deferred pension plan which has assured benefit on death at maturity. The plan provides guaranteed additions which are included per year and lump sum vesting inclusion is payable at the time of vesting.
Which is the best plan for retirement?
Best Pension Plans in India 2021
| Pension Plans | Entry Age | Policy Term |
|---|---|---|
| ICICI Pur Easy Retirement Plan | 35 years-75 years | 10 years-30 years |
| India First Annuity Plan | 40 years- 80 years | N/A |
| Kotak Premier Pension Plan | 30 years- 55 years/ 60 years | 10,15,17-30 years |
| LIC New Jeevan Akshay Pension Scheme | 30 years – 85 years | N/A |
Is Atal Pension Yojna good?
The Atal Pension Yojana is one of the most beneficial social security schemes introduced by the Government in the year 2015-16. As a part of the scheme, people can make contributions in their Atal Pension Yojana account till the age of 60 years and get a monthly pension.
Which is better NPS or LIC pension plan?
The returns in this system are higher compared to the immediate annuity plan. The returns from both the schemes are guaranteed, which means the amount of annuity and for the period mentioned in the scheme are certain. Since the scheme also provides a life (insurance) cover, the returns are lower than that of NPS.
How is monthly pension calculated?
The Formula
Average Salary * Pensionable Service / 70 where, Average Salary means the average of the Basic Salary + DA combined, drawn in the last 12 months, and. Pensionable Service means the number of years worked in the organized sector after 15th November, 1995.
Which is the best pension plan in India 2020?
Here’s a list of the best pension plans in India you might want to go through:
- LIC Jeevan Nidhi Pension Plan.
- Max Life Forever Young Pension Plan.
- Max Life Guaranteed Lifetime Income Pension Plan.
- Reliance Immediate Annuity Pension Plan.
- Reliance Smart Pension Plan.
- SBI Life Saral Pension Plan.
Which annuity is best?
Compare the Best Annuity Rates
| Company | AM Best Rating |
|---|---|
| Fidelity Best Overall | A+ |
| Allianz Best Fixed Indexed Annuity | A+ |
| New York Life Best Variable Annuity | A++ |
| USAA Single Premium Immediate Annuity Best Straight Life Annuity | A++ |
What is annuity plan of SBI?
SBI Life Annuity Plus – Product Specification:
| Minimum | Maximum | |
|---|---|---|
| Entry Age (Last Birthday) | 40 years | 80 years |
| Premium | Depends on the Entry age and the Annuity Amount chosen | |
| Annuity Payout frequency | Annual, half-yearly, quarterly, monthly | |
| Annuity Payout | Yearly – 2400 Half-yearly – 1200 Quarterly – 600 Monthly – 200 | No limit |
Which annuity plan is best in NPS?
Best Performing NPS Tier-I Returns 2021 – Scheme E
| Pension Fund Managers | Returns* | |
|---|---|---|
| 6-month | 5-year | |
| HDFC Pension Fund | 21.35% | 15.36% |
| UTI Retirement Solutions | 21.97% | 14.04% |
| SBI Pension Fund | 19.78% | 13.54% |