Reliance Smart Pension Plan

Reliance Smart Pension Plan is a non-participating Unit-linked pension plan which enables the policyholder to build a retirement corpus for a tension free retirement. The corpus is also subject to market participation through investment in units so as to maximize wealth.

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100% Guaranteed

Pension For Life

Best Pension Options
  • Invest 20 Lacs Get ₹ 1.6 Lacs pension for Life

  • Guaranteed Return For Life

  • Multiple Annuity Options

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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Guaranteed Pension For Life For You And Your Spouse
Invested amount returned to your nominee
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Key Features

  • It is a unit linked pension plan which also promises Guaranteed Additions.
  • Even if the unit account is less, the capital guarantee feature ensures minimum repayment of the premiums paid
  • Premiums can be paid regularly, in a single time or for limited term
  • Premiums paid are invested in the Pension Smart Fund 1
  • There are 3 options of receiving annuity namely:
    • Life annuity
    • Life annuity with Return of Purchase Price
    • Life annuity guaranteed for 5, 10 or 15 years and thereafter payable for life


  • On maturity, higher of the Fund Value or 110% of all premiums paid is payable
  • The maturity amount can be used in the following ways:
    • Commute 1/3rd of the corpus and receive immediate annuity form the remaining corpus
    • Purchase a single premium deferred annuity plan form the insurer
    • Extend the deferment period in the same policy if age is lower than 55 years
    • On death, higher of the fund value or 105% of total premiums paid is returned to the nominee
    • The death benefit can be withdrawn or used to buy an annuity form the company
    • Income tax benefit on the commuted part of the corpus under Section 10(10A) and on the premiums paid under Section 80C of the Income Tax Act.

Product Specification:




Entry Age (Last Birthday)

18 years

65 years

Maturity Age (Last Birthday)



Policy Term (PT) in years

Single pay – 10

Limited or Regular Pay - 15


Premium Paying Term (PPT) in years



Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium


PPT 10-14 yrs.

PPT 15-19 yrs.

PPT 20 yrs. & above

No limit

Regular Pay














Limited Pay

















Single Pay


No limit

Details About Premium

Benefit illustration for an annual premium of Rs.50,000 for a 35 year male


Policy Term 15 years

Policy term 20 years

Annuity p.a.



Fund Value @ 8%



Policy Details

  • Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses
  • Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 years. The surrender value can be either used to buy a deferred annuity plan form the company or 1/3rd of the value can be commuted and the rest has to be used to buy annuity.
  • Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.


  • Top-ups are allowed to increase investment with a minimum of Rs.5000

Additional Features or Riders

  • Loyalty Additions @ 1% start from the end of the 6th policy year and increase every 3 years by another 1%


  • If suicide is committed within 12 months of policy inception or revival o nly the fund value as on that date is payable

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents.

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