Best Retirement Plans: 8 Best Options Uncovered

How are you going to kick back and relax after you’re done with the daily grind of your job?

We’re basically asking the million-dollar question: Are you ready for a retirement that’s as comfy as your favourite couch?

Well, planning for a financially secure retirement is no joke these days because of the variety of plans claiming to “be the best retirement plans.”

To help you choose from a range of best retirement plans, we’ve got this listicle of the best 8 retirement plans.

We’re diving headfirst into the world of pension plans in India. We’ll be your trusty guides, helping you sift through the 8 options.

Let’s get to it.

8 Best Retirement Plans Options

Before we start with exploring the best retirement plans options, you must know that each pension plan comes with its unique features and benefits.

For instance, HDFC Life Click 2 Retire offers no entry, exit, or policy administration charges, while Max Life’s plan provides various annuity payout options.

SBI Life Saral Retirement Saver combines retirement savings with life insurance, and LIC’s New Jeevan Shanti offers online and offline purchase options.

So, you have to make a decision on the basis of your unique circumstances and requirements.

1. HDFC Life Click 2 Retire Plan

With HDFC Life Click 2 Retire, you can start securing your retirement with premiums as low as ₹2,000 per month and gain from market performance.

-Entry Age: 18 to 65 years
– Maturity Age: 45 to 75 years
– Policy Term: 10 to 35 years

HDFC Life Click 2 Retire is a unit-linked pension plan that offers flexibility and a death benefit of 105% of premiums paid.

2.Max Life Guaranteed Lifetime Income Plan

The Max Life Guaranteed Lifetime Income Plan ensures a regular stream of income in retirement, allowing you to maintain your lifestyle.

-Immediate Annuity: 0 to 80 years
– Deferred Annuity: 30 to 80 years
– Maturity Age: 31 to 90 years

Max Life’s plan ensures a steady income stream after retirement with multiple annuity options.

3. SBI Life Saral Retirement Saver

With guaranteed simple reversionary bonuses, you can start saving for future income as early as 18 years of age, ensuring financial security during your post-work life.

– Entry Age: 18 to 65 years
– Maturity Age: 40 to 70 years
– Policy Term: 5 to 40 years

This plan helps grow your retirement corpus and provides life insurance options.

4. LIC New Jeevan Shanti Plan:

Pension worries will end with the LIC New Jeevan Shanti Plan, and upon one’s demise, the pension will be transferred to another person. Learn all the essential details related to the scheme.

– Entry Age: 30 to 79 years
– Maturity Age: 31 to 80 years

LIC’s single premium plan offers deferred annuity with various annuity options.

5. Bajaj Allianz Life LongLife Goal

Bajaj Allianz Life LongLife Goal offers the ultimate investment option with various advantages. Premiums can be paid monthly, quarterly, bi-annually, and annually. There are no add-on riders, but there is an accidental disability benefit.

– Entry Age: 18 to 65 years
– Maturity Age: 99 years
– Policy Term: 10 to 25 years

This unit-linked plan ensures a steady income until the age of 99, with bonus additions.

6. IndiaFirst Life Guaranteed Annuity Plan

The IndiaFirst Life Guaranteed Annuity Plan provides 12 different annuity options, offering lifetime income and return of purchase price facility, making it a versatile choice for retirement planning.

– Entry Age: 40 to 80 years
– Minimum Premium: INR 1,00,000,

7. ABSLI Empower Pension Plan

ABSLI Empower Pension Plan is a unit-linked pension plan that helps build a retirement corpus, offering partial withdrawals, easy investment tracking, customizable risk profiles, and flexible premium payment options.

– Entry Age: 25 to 70 years
– Maturity Age: 80 years
– Policy Term: 5 to 30 years

A unit-linked pension plan with investment options and partial withdrawals.