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 |
Thereof, 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.
- 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:
Also, how can I get 20000 Pension monthly?
According to the HDFC pension calculator, for the pension of Rs 20,000 per month, you need to invest Rs 2424 per month. According to the HDFC pension calculator, for the pension of Rs 30,000 per month, you need to invest Rs 3637 per month.
How can I get 50000 pension per month?
First take the case of immediate annuity: For a pension of Rs 50,000/month (or Rs 6 lakh/annum), you will have to invest around Rs 70 lakh at the age of 60 in the LIC plan. At the age of 50, you will need to invest at least Rs 80 lakh for Rs 50,000/month pension.
How can I get 10000 Pension monthly?
The PMVYY pension scheme was recently modified by the finance ministry. The pension scheme was then extended till 31 March, 2023 with an assured interest rate of 7.40 per cent per annum for FY 2020-21. The pension scheme offers a guaranteed monthly income of up to Rs 10,000 for 10 years, according to LIC.
What are the two types of pensions?
There are two main types of workplace pension:
- Defined benefit (or final salary) …
- Defined contribution (or money purchase) …
- Retirement annuity contracts (section 226) …
- Personal pensions. …
- Stakeholder pensions. …
- SIPPs (self-invested personal pensions) …
- Read more:
How do I calculate my pension?
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.
What is the best retirement plan for 50 year old?
A 401(k) plan can be your best friend when it comes to retirement savings. As of 2020, you can contribute up to $19,500 per year into a 401(k) plan. Additionally, you won’t typically pay tax on the money you contribute. Best of all, many 401(k) plans have employer matching contributions.