Pensions Plans for NRI in India

Most of us want to have a good standard of living in our golden retirement years. As an NRI, there are many investment decisions required to make in comparison to other people. Planning for retirement is equally important for an NRI as for an Indian citizen. As an NRI, one should do some financial planning, if he/she wants to spend the retirement comfortably and want to make his/her dreams true.

Read more
  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000

Get the best returns & make the most of your Golden years

We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

So, to spend retirement happily, an NRI must choose the right pension plan as per his/her financial requirements.

Pension Plans For NRI

A pension plan is a type of plan that offers the dual benefits of insurance and investment cover. By investing a fixed amount regularly towards a pension plan, you can accumulate a section of your savings over a long period so that you can get a financially secured and stable future. This ensures a stable flow of income when you retire.

However, can NRIs avail of benefits from these Pension Plans? Nowadays, pension plans in India are very important. NRIs have migrated to foreign lands in search of good opportunities, but most of them come back to India in their retirement years. NRI pension plans are backed by certain questions like why they want to invest in pension plans in India? What investments do they require to ensure a comfortable living in their post-retirement years? 

Various insurers offer NRI-specific Pension Plans for fulfilling the standards chosen for Retirement Planning. There are several criteria that one should consider while purchasing an NRI Pension plan in India such as financial objectives, desire, and age.

Best Pension Plans For NRI in India

Pension Plans in India cater to the requirements of a wide range of insurance buyers. Several pension plans are available in the market for NRI with multiple classifications, features, and benefits, and selecting the right plan is a difficult task. Here is a list of pension plans for NRI in India that might help you in your twilight years. Let's go through the table:

Plan Name

Age (Minimum-Maximum)

Annuity Options/Policy Term (PT)

Annuity to Spouse

Tax Benefits

Tata AIA Guaranteed Return Life Insurance Plan

8-60 years

PT - 5-65 years

For Whole Life Policy

Under sections 80CC and 10(10D)

Bajaj Allianz Life Pension  Guarantee Plan

37-80 years

Lifetime annuity and 5, 10, 15, and 20 years

50% and 100%


LIC Jeevan Nidhi Plan

20-60 years

Lifetime Annuity and 5, 10, 15, and 20 years and subsequently


Under section 80CCC

National Pension Scheme

18-60 years



Available up to 2 Lakhs

LIC Jeevan Akshay

30-65 years

Lifetime Annuity and 5, 10, 15, and 20 years and subsequently

50% and 100%


Disclaimer- Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

  1. Tata AIA Guaranteed Return Life Insurance Plan

    This plan offered by Tata AIA Life Insurance helps you accumulating funds that you might need in your post-retirement years. It helps maintain your lifestyle, standard of living. To achieve your life milestones such as buying a house, car, child’s education, and marriage. The plan has the flexibility to choose from 3 different plan options that include regular income, endowment, and whole life income. You can also cover your spouse under this plan. 

  2. Bajaj Allianz Life Pension Guaranteed Plan 

    Bajaj Allianz Pension plan provides you an option to choose the payout as per your preference - 1 month, 3 months, 6 months, and yearly. The plan offers various benefits such as coverage provided to the spouse along with 50 percent of annuity provided to the spouse in case of the annuitant's death. 100% of the annuity is provided to the partner in case of annuitant's death and premium price return along with 100% of the annuity to the partner in case of demise of the last person surviving.

  3. LIC Jeevan Nidhi Plan 

    The plan comes with 5 different plan options. You can select a lifetime annuity or a period of 5/10/15, and 20 years regardless of the survival time. Return of purchase price is also available under this plan in event of assured's death along with a payment of 5 percent annuity to the spouse. You can also get an increment of 3% on annuity annually.

  4. LIC Jeevan Akshay

    A lump-sum payment plan in which the minimum purchase price is Rs 1 lakh and Rs. 1.5 lakh for online sales. LIC Jeevan Akshay is a lifetime annuity plan that offers a wide variety of annuity payment options for 5/10/15/20 years. In addition to this, it also provides a 3% annual increment till you are surviving.

  5. National Pension Scheme 

    In this, there are no upper and lower limits to the number of contributions made in a year. The assured is free to regulate the amounts and frequency of contribution. So, there are two types of accounts under this scheme:

    • Tier 1 - If you retire before 60 years of age, you are eligible to receive 20 percent as cash that is free of any tax. The remaining amount i.e., 80 percent is then invested in an annuity. Additionally, if you retire after 60 years of age, then a minimum of 40 percent can be annualized and you can withdraw the balance as a lump sum.
    • Tier 2 - Tier 1 account holders are only eligible for the tier 2 option. In this, you can deposit and withdraw your money whenever you want to. You can choose from various types of investments under this plan such as corporate bonds, equities, and Government bonds. All these options help you to create a good investment strategy for the long run.

Wrapping It Up!

Pension plans are not a choice, but they have become a requirement these days, especially for NRIs who want to spend the second half of living in their motherland. If you are working currently and wish to retire after 15 years, then you should think of having a pension plan that might help you to be financially independent in the long run. Various insurers offer pension plans for NRIs in India and have a very hassle-free and smooth online process. Before buying, it is always advisable to compare these plans and choose wisely as per your financial requirements and liabilities.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

Secure Your Retirement Today
Start Investing ₹6,000/month
Get Pension ₹60,000/month+
Including Life Cover
View Plan
Pension Plans
+Standard T&C Applied
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Secure your Retirement today!
+ Standard T & C Apply*
Pension Calculator
Pension Calculator
How much do you need to save for retirement?
₹ 20,000
₹ 25,000
₹ 30,000
Monthly Expenses in 2024
Edit Done
Your expense go up every year by
Today 2024 Your expenses today in 2023, at the age of 34 Yrs
Your expenses in 2043, at the age of 55 Yrs
For a monthly pension of ₹77,300
you need to invest
Calculated as per past performance of 15%
View Plan Recalculate?

Pension plans articles

Recent Articles
Popular Articles
How Can I Get a 3000 Pension?

01 May 2024

Securing a monthly pension of 3000 rupees is a goal that many
Read more
Pension Calculator

13 Feb 2024

Pension calculator helps you calculate the amount you could
Read more
NPS vs ULIP - Which One Is Better?

10 Oct 2023

NPS (National Pension System) and ULIP (Unit Linked Insurance
Read more
Best Mutual Funds for Retirement

21 Sep 2023

Planning for a secure and comfortable retirement is a financial
Read more
Mahila Samman Savings Certificate (MSSC)

04 Sep 2023

The Mahila Samman Savings Certificate (MSSC) or Mahila Samman
Read more
SBI Life Pension Plans for NRI 2024
As a Non-Resident Indian (NRI), the retirement decision is not as simple as for Indian residents. You must make
Read more
National Pension Scheme NRI
National Pension Scheme or NPS is a Government of India’s social welfare initiative to secure the working
Read more

Download the Policybazaar app
to manage all your insurance needs.