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Retirement Calculator Best Retirement Plan Senior Citizen Card Saral Pension Plan NPS Withdrawal Pension4Life Plan Retirement Planning 5 Retirement Tips National Pension Scheme NPS Pension Calculator
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Retirement Calculator Best Retirement Plan Senior Citizen Card Saral Pension Plan NPS Withdrawal Pension4Life Plan Retirement Planning 5 Retirement Tips National Pension Scheme NPS Pension Calculator
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Types of Pension Plans in India
Pension Plans with Life Cover - The majority of the pension plans offer life insurance cover with annuity option. In case of the demise of the policyholder, beneficiary will receive the benefits. The primary purpose of the plan is to offer a sustainable pension to the retiree.
Types of Pension Plan
Pension Plan with Life Cover: These are pension plans where primary account holders or joint holders will also have life coverage. If they die during the plan’s term, the policy will pay the death benefit amounts to their nominees.
Types of Pension Plans in India
National Pension Scheme (NPS)- This plan is one of the two types of pension plans in India which are also used by the Government of India. The plan gives you an option to invest in equity and debt funds depending on your risk profile. You can withdraw up to 60% of your corpus at retirement , and the remaining 40% is used to purchase the annuity. NPS accounts are generally of two types a) All Citizen Model, and b) Corporate Model.
1. National Pension Scheme (NPS):
You can open an NPS account and invest in it while you are working. Your investment is divided into equity and debt and grows over time. On maturity (60 years), you can withdraw up to 60% of the accumulated corpus in a lump sum. You need to buy an annuity plan with the remaining corpus which helps you generate regular income.
Types of Pension Plans
With ever-increasing costs, you must invest your hard-earned money in schemes and plans that will beat inflation and secure your life post-retirement. The early you start planning for your retirement, the smooth your financial journey will be. Today, pension plans have become fundamental to invest in even if you have extensive investment funds with you. There are different types of pension plans available in India. We should select the right pension fund that suits our requirements.
How to Choose the Best Retirement Pension Plan?
At some point, you will have to retire. If you don't want to worry about your financial needs post-retirement, you need to invest in pension plans. The sooner you start planning for retirement , the easier it gets. Pension gives you financial security and the freedom to live your life the way you want to.