Funds for Retirement Planning

Retirement planning is as important as planning any other crucial event of your life. One can earn and financially support their family even after facing huge losses in the earning age, but once retired, the same situation acts as a nightmare. Retirement planning and investing the money in the right funds and schemes predict the financial future of the individual. 

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With a huge range of funds and schemes in the market for all kinds of investors, it becomes a pain to make the right choice. This article will lead you to some of the best funds for Retirement Planning in 2022 for investment and make your investing life easier.

Best Funds for Retirement Planning in 2022

Here is a list of a few funds that will help in planning the retirement of the investor in a better way:

Funds Name
Aviva Secure Pension
Bajaj Allianz Swarna Vishranti
HDFC Life Single Premium Pension Super Single Premium ULIP
HDFC Retirement Savings Fund Equity Plan Direct Growth
ICICI Prudential Retirement Fund Pure Equity Plan Direct Growth
ICICI PruForever Life
Kotak Capital Multiplier Plan
Max New York Life Partner Plus
SBI Lifelong Pension Plus
Tata Retirement Savings Fund Progressive Plan Regular Growth

  1. Aviva Secure Pension

    Aviva Secure Pension ULIP (Unit Linked Insurance Plan) is a traditional pension plan that gives the opportunity to investors to save regularly during the earning years and guarantees a fixed pension amount after retirement. This plan offers a guaranteed addition of Rs. 30 per Rs. 1,000 sum assured in the initial 3 years of the plan.

    Parameters Minimum Maximum
    Annual Premiums Rs. 5000 No limit
    Sum Assured Rs. 1,00,000 No limit
    Policy Term 10 years 40 years
    Premium Payment Term (PPT) Equal to Policy Term
    Entry Age 18 years 60 years
    Maturity Age 40 years 75 years
    Death Benefit Sum assured + Vested guaranteed additions + Simple revisionary bonus
    Benefit paid as a lump sum or used to buy an annuity.
    Maturity Benefit Sum assured + Vested guaranteed additions + Simple revisionary bonus + Terminal bonus (if any).
    Tax Benefit Premiums paid are eligible for deductions under Section 80CCC.
  2. HDFC Life Single Premium Pension Super Single Premium ULIP

    HDFC Life Single Premium Pension Super Plan is a market linked, single premium, a unit linked deferred annuity pension plan that offers insurance plus investment options to its customers. This plan is beneficial to investors looking for a long-term retirement plan along with high returns on the invested amount.

    Parameters Details
    Entry Age 40 years - Minimum
    75 years - Maximum
    Maturity Age 50 years - Minimum
    85 years - Maximum
    Policy Term 10 years
    Maturity Benefit Higher of fund value till the end of the tenure
    or
    101% of the single premium (including top up premiums paid, if any).
    Death Benefit Higher of Fund value till the end of the tenure
    or
    105% of the single premium (including top up premiums paid, if any).
    Surrender Benefit (before the completion of 5 years) Fund value - Charges for discontinuation and payouts with accrued interests after 5 years.
    Surrender Benefit (after the completion of 5 years) The fund value is paid out immediately.
    Free look Period If purchased online - 30 days
    If offline - 15 days
  3. ICICI Prudential Retirement Fund Pure Equity Plan Direct Growth

    ICICI Prudential Pure Equity Plan is a solution oriented retirement plan that comes with a 5-year lock-in period. This fund involves moderately high risk as the annualized 3-year fund returns are as high as 17.4%.

    Parameters  Details
    Minimum 1st time investment Rs. 5,000
    Minimum 2nd time investment Rs. 1,000
    Minimum SIP amount Rs. 100
    Fund Manager Manish Banthia
    Anuj Tagra
    Priyanka Khandelwal
    Lalit Kumar
    Annualized 1 year Returns 25.00%
    Annualized 3 year Returns 17.40%
    Lock-in Period 5 years
  4. Kotak Capital Multiplier Plan

    Kotak Capital Multiplier is a pure pension plan wherein total safety is guaranteed. It is not market linked as it is a pure traditional insurance plan that offers an additional bonus facility. This plan offers minimum guaranteed returns of 3% along with 6 additional rider benefits and other benefits, making it a decent plan to buy.

    Parameters Minimum Maximum
    Policy Term 5 years 30 years
    Premium Payment Term Equal to Policy Term
    Entry Age 8 years 60 years
    Age at Maturity - 65 years
    Regular Premium Rs. 10,000 No Limit
    Payment modes Monthly, Quarterly, Semi-Annually, Annually
    Death Benefit During the accumulation phase:
    Basic Sum Assured + 10% of Sum Assured as death benefit + the remaining balance.
    During the withdrawal phase:
    10% of the Sum Assured as death benefit + the remaining balance.
    Maturity Benefit Higher of:
    Basic Sum Assured
    or
    Accumulation Account within the 15 year period.
    Tax Benefit Premiums paid up to Rs. 1,00,000 are eligible for deductions under Section 80C of the Income Tax Act, 1961.

To sum up!

There are a plethora of plans in the financial market, from non-linked to linked and from high risk involvement to guaranteed decent returns, as per the choice and requirements of the investor. This list of Best Funds for Retirement Planning in 2022 is helpful for investors of all types. It is important to understand the investment plan carefully before investing.

Happy Investing!

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