Hi,

 I would like to tell you onething from my point of view..we cant tell which pension plan is good..since its differ to person to person and its depends on your lifestyle ,age and salary status. You have to decide the pension plan. It all depends upon the life style you lead now and think to lead after retirement.Usually 75% of the current expenses you need inyour retirement life. Calculate the assets you have now and select such a pension plan which fulfills the remaining part of your need

Some of the  pension plans are

 LIC Jeevan suraksha

Aviva pension plus

 ICICI life stage

HDFC pension maximiser 2

Benefits of Jeevan suraksha plan:

Maturity Benefit – At the maturity of the policy, the insured will get some choices

·         To choose whether to withdraw 25%of the fund tax free and avail pension from the remaining or take pension from the entire corpus

·         To choose the type of pension

o    Annuity for Life- where pension is paid till the life assured is alive and nothing is payable on death

o    Annuity Guaranteed for Certain Periods- where pension is paid for 5/10/15 or 20 years as chosen whether the life assured is alive or not

o    Annuity with Return of Purchase Price on Death- pension is paid till the life assured is alive and the remaining amount of the corpus is paid to the nominee as death benefit

o    Increasing Annuity- pension is paid till the life assured is alive at an increasing rate of 3% p.a.

o    Joint Life Last Survivor Annuity- pension is paid till the life assured is alive. On the death of the life insured, 50% of the pension is payable to spouse as long as the spouse if alive.

Death Benefit – In case of death of the Life Insured before the vesting date, the nominee receives all premiums paid till death + Term Rider Sum Assured(if chosen) together with 5% compounding interest.

In case of death of the Life Insured after the vesting date, it entirely depends upon pension option chosen.

Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and 1/3^rd of the maturity proceeds are exempted from tax under Section 10 (10A) but only 25% can be withdrawn on maturity. Pension that is received is taxable.

1.     Aegon Religare Pension Plan

2.     Tata AIG Life Nirvana

3.     ICICI Pru Forever Life

1.     LIC Pension Plus - ULIP

2.     LIC New Jeevan Nidhi

3.     LIC New Jeevan Dhara 1

4.     LIC Jeevan Akshay 6

YOu can start to put lic plan after 30 years.. 

YOu can start to put lic plan after 30 years..