Which is the best pension scheme for you in 2018?

There are many options available for customers when it comes to investing money in pension scheme. You can select the best option as per your individual needs. The simple thing you need to do in this case is to compare the different plans available in the market so that you can clearly understand the benefits of each one of them. This will help you to make the best choice suited for your future. In this regard, we present the best pension scheme that is trending in the market and you can select anyone of them based on your individual requirements.

LIC Jeevan Akshay VI Plan

This plan is well suited when you want to get regular pension after your retirement. It can be customized to meet your expectations and you can choose between different annuity options. The premium needs to be paid only for once and annuity is available on monthly basis along with quarterly and yearly basis. The minimum age limit for this plan is 30 years and the maximum limit is fixed at 85 years.

Reliance Smart Pension Plan

If you want to grow your pension corpus in the best possible manner, you should always choose the unit linked plans as the growth in our markets is attractive. This allows consumers to invest money regularly for a certain duration that can be chosen between 10 to 30 years. In this way, depending on your current age, you can manage the premium payment tenure and customize it to suit your needs. The entry age of this plan is in the range of 18 years to 65 years and working professionals and businessmen can enter into this pension scheme to save money for future. The tenure of the policy ranges from a minimum of 10 years to a maximum of 30 years. The maturity age is considered at 45 years to 75 years depending on the tenure chosen for the policy.

ICICI Pru Immediate Annuity Plan

You can customize the annuity options in this plan according to your needs. The premium needs to be paid once and you will have different options when it comes to receiving the payout. The annuity is available for lifelong and this is the major advantage of choosing this pension scheme for your future. If the policy holder dies during this period, the nominee will continue to get the benefits for the rest of the life. The entry age is fixed at a minimum of 45 years and the maximum limit is set at 80 years. In this way, you can guarantee regular income for your family even after your retirement with proper planning. You can easily invest your savings in this plan and get lots of benefits in the long run.

HDFC Life Click 2 Retire Plan

This plan is also very popular in the market and you can get good benefits by investing in this pension scheme. As this is a unit linked plan, you have the option of paying the premium on a regular basis and this is a good choice for salaried individuals. On the other hand, even businessmen can take advantage of the single premium payment option and invest in this plan. You need to pay the premium for a minimum of 10 years and the maximum limit is at 15 years. The important aspect about this plan is that it does not have partial withdrawal option and you need to be careful about this factor while choosing this as your retirement plan. If you have any emergency requirement in future, you may not be able to withdraw your money. However, it has its unique benefits in the form of having fixed savings for the rest of your life. This will help consumers to take a disciplined approach towards saving money for pension plans and this will benefit them a lot in future.

Bajaj Allianz Pension Guarantee Plan

You will be completely impressed with the amazing features of this plan as it offers immediate annuity unlike other plans. With this pension scheme, you can easily get regular pension by investing money for a single time. You can choose the tenure as per your individual needs and the age limit for entry to this plan is at 37 years. The maximum age limit for this plan is 80 years. The advantage you get with such immediate annuity plans is that the pension will begin immediately after making the investment and you will be able to get regular income in this manner. In this way, there is no need to wait till the retirement age to get pension and you can invest bulk money into such schemes to get pension even when you are in your working age. This will allow you to get additional guaranteed income and you can plan your investment in the best possible manner.

HDFC Pension Super Plus Plan

This is a very good unit linked pension scheme and you can expect good returns in future. The vesting age for the plan is in the range of 55 years to 75 years and you can enter the plan from the age to 35 till the age of 65 years. The maturity value will be assured depending on the investment made in the plan and you can choose to invest regularly in this unit linked plan. It is also possible to get tax benefits when you invest regularly in such pension plans. Apart from that, you will be able to participate in the top ranking pension fund and grow your money in an easy way.

These are some of the top trending pension plans in India and you can easily invest your savings in such plans. If you are planning to invest lump sum money into such schemes, it will be a good option to consider the suggestion of experts as they can help you to manage your investment in the best way. You will be able to get good income on a regular basis by investing your money in pension plans.

Archana Singh is a Finance Advisor and Investment Planner. She Also does like to share finance and insurance related write ups on the web. Follow Archana on her social networking sites to know more about her.