Retirement · Pension · Long-Term Planning
Retirement / Pension Plans
Long-term financial products designed to help build a retirement corpus and create a potential source of income after retirement.
Retirement Income
Create a potential source of income after retirement.
Long-Term Growth
Build a retirement corpus through long-term saving.
Regular Income
Corpus may be converted into an annuity or payout.
Goal Based
Plan savings around your retirement age and goals.
Multiple Options
Choose products based on goals and risk profile.
Overview
What Are Retirement / Pension Plans?
Retirement and pension plans are financial products designed to help individuals build a corpus during their working years and create a potential source of income after retirement.
Retirement Product Types
Pension Plans
Build retirement savings during working years and create income after retirement.
Deferred Annuity
Accumulate funds over a period and use the corpus for future annuity income.
Immediate Annuity
Use an accumulated corpus to receive periodic income according to the selected option.
Features, returns, charges, withdrawal rules and tax treatment depend on the specific product.
Eligibility
Who Can Buy a Retirement Plan?
- Eligibility depends on the specific retirement product
- Minimum and maximum entry age vary by product
- Policy term and vesting age depend on the plan
- Premium or contribution limits vary
- Medical or underwriting requirements may apply
KYC
Documents Required
- PAN, Aadhaar, Passport or other accepted identity proof
- Address proof as required under KYC norms
- Age proof such as Aadhaar, passport or birth certificate
- Income or financial documents where required
- Medical or underwriting documents, where applicable
Returns
How Do Retirement Plans Generate Returns?
Traditional plans
Benefits may be based on guaranteed benefits and, where applicable, bonuses or other benefits specified in the policy.
Market-linked plans
Investment value depends on the performance of selected funds and is subject to market risk. Returns are not automatically guaranteed.
Key Benefits
Why Consider Retirement Planning?
- Build a retirement corpus over the long term
- Create a potential source of regular retirement income
- Encourage disciplined and systematic saving
- Choose investment options based on risk tolerance
- Some insurance-based plans may include life cover
- Eligible products may offer tax benefits under applicable rules
Retirement Income
Understand Annuity Options
A retirement corpus may be used to purchase an annuity or create another permitted income arrangement. Available options may include lifetime income, joint-life annuity, or annuity with return of purchase price, depending on the product.
Liquidity
Check Withdrawal & Surrender Rules
Before Retirement
Liquidity may be restricted
Withdrawal, surrender and premature-exit rules vary by product. Check the policy before investing.
At Retirement
Corpus to income
Depending on the product, accumulated funds may be used for a lump sum, annuity or other permitted retirement payout.
Where to Buy
Insurers, Banks & Authorised Channels
Retirement and pension plans may be available through registered life insurers, authorised intermediaries, banks, financial institutions and employer-sponsored arrangements.
Tax Treatment
Tax Benefits Depend on Applicable Rules
Eligible retirement and pension products may qualify for tax benefits under applicable provisions such as Sections 80C, 80CCC and 80CCD, subject to the relevant conditions, limits and tax regime. Taxation of withdrawals, maturity proceeds, pension or annuity income depends on the specific product and prevailing tax laws.
Retirement Planning
Plan Around Your Future Needs
- Estimate your retirement age and expected monthly expenses
- Consider healthcare costs and long-term inflation
- Review your existing savings and other retirement income
- Choose products according to your risk tolerance
- Compare guaranteed benefits with market-linked returns
Things to Know
Before You Buy a Retirement Plan
- There is no single fixed return applicable to all retirement plans
- Market-linked products are subject to investment risk
- Understand lock-in, withdrawal and surrender conditions
- Charges can affect the overall value of the investment
- Annuity options can significantly affect retirement income
- Tax treatment depends on the product and applicable tax laws
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