Why do We Need Pension Plans in India

Every individual works very hard and make lot of sacrifices in order to make a secured future. We do keep tracks of our finances during our work life span and focus on making investments that will help to make our future secured. The important constituents that make our future secured and worry free is the availability of finance after our retirement. Retirement is generally the time when people want to do things which they never were able to do like spending quality time at their far house, going on holidays which are not imaginable without proper retirement planning. Pension plans or retirement plans are the only lifeline that can ensure you maintain high standards of living along with fulfilling your desires.

Read more
  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

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

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

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

+91
View Plans
Please wait. We Are Processing..
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 Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

Pension Plans provide you with financial safety so that when your professional income starts to recede, you can still live with pride without bargaining on your living standards. Pension plans act as a tool to invest regularly during your work life span and returns you your investment in lump sum at your retirement along with annuity income which is provided in regular intervals.

An individual must make proper assessment of their finances and must realize that starting retirement planning at the early age makes more sense than starting later on in your life. Pension plans can help build you corpus over the time which you can utilize to fulfill your dreams. Starting pension planning early in your life is even easier as you have lesser responsibilities to handle plus you have very few liabilities to meet. Further, starting pension planning early can benefit you as you will be able to reap compounding benefits for more time, hence, your corpus will be more.

You may also like to read: What is an Annuity | Annuity Calculator | Annuity Formula

In our country like India where government does not provide any social security like western countries, it becomes even more crucial to have pension plans in place to meet any contingencies in the future. It will enhance your resistance power after the retirement. These reasons justify enough that it is very crucial to make pension planning well ahead on time. There are some factors which must be considered by an individual while planning for their retirement and pension like you must evaluate how much income or corpus you require in order to lead a satisfied life after your retirement. You should consider medical costs and lifestyle needs as well. Further, you must start investing in your pension plans at the right age and must allocate your money smartly in the plan which must be capable of fulfilling your desires.

Secure Your Retirement Today
Start Investing ₹6,000/month
Get Pension ₹60,000/month+
Including Life Cover
View Plan
+Standard T&A Applied
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Retirement Plans
Monthly Pension Plans
Higher Returns Than Fixed Deposit
Retirement Calculator
Retirement Calculator
How much do you need to save for retirement?
₹ 20,000
₹ 25,000
₹ 30,000
Monthly Expenses in 2022
Edit Done
Your expense go up every year by
Today 2022 Your expenses today in 2022, 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
₹14,300/month
Calculated as per past performance of 15%
View Plan Recalculate?

Pension plans articles

Recent Articles
Popular Articles
How to Get a 50K Pension Per Month?

15 Jun 2022

Retirement planning should form an essential part of your...
Read more
NPS Premature Withdrawal

15 Jun 2022

The National Pension Scheme is the Central Government’s social...
Read more
Get 30K Pension Per Month

15 Jun 2022

Planning retirement is extremely important and crucial these...
Read more
Atal Pension Yojana Premium Chart

08 Jun 2022

Atal Pension Yojana (APY) is a government of India initiative to...
Read more
Monthly Pension Scheme for Senior Citizens

02 Jun 2022

Retirement planning is paramount to creating a constant source...
Read more
National Pension Scheme (NPS) – Govt Approved Pension Scheme
National Pension Scheme or NPS scheme is an investment cum pension plan launched by the Indian Government. This...
Read more
NPS Calculator - National Pension Scheme Calculator Online
National Pension Scheme Calculator is an online tool, which allows the individual to calculate the estimated...
Read more
Post Office NPS Calculator 2022
National Pension System is a scheme launched by the Government of India that offers stability to all Indian...
Read more
Future Value of Annuity Due Formula
The future value of an annuity due is the value of consolidated payments at a date in the future, considering a...
Read more
NPS Tier 2 Account Advantages and Disadvantages
NPS or the National Pension Scheme is an initiative taken by the Central Government that protects the holders'...
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL