PensionIndia

There are many Insurance companies and mutual fund companies who offer pension plans which are voluntary in nature i.e you may purchase them or you may not viz a viz the EPF and Government Pension Schemes where if you are an employee then it is compulsory for you take subscribe to a pension scheme.

Pension Plans by Mutual funds

There are primarily two pension plans that mutual funds in India offer:

1. Templeton India pension plan.
TIPP invests in a mix of high quality debt instruments and equities to ensure relative stability of your investment and to deliver superior returns in comparison to traditional tax-saving instruments.

2. UTI retirement benefit plan.
The objective of the scheme is to provide pension to investors particularly self-employed persons after they attain the age of 58 years, in the form of periodical cash flow up to the extent of repurchase value of their holding through a systematic withdrawal plan.

Pension Plans by Insurance Firms:

Life Insurance Corporation of India

• Jeevan Akshay
• Jeevan Nidhi
• New Jeevan Dhara - I
• New Jeevan Suraksha – I
SBI life

• SBI Horizona II Pension Plan
• SBI Unit Plus II
• SBI Lifelong Pension

HDFC Standard life insurance co. ltd

• HDFC Unit linked pension maximiser II
• Unit Linked pension
• Personal Pension Plan
• Unit Linked Pension II
• Unit Linked Pension Plus

Tata AIG Life Insurance Company Limited

• Tata AIG Life Easy Retire
• Tata AIG Life Nirvana Plus
• Tata AIG Life Nirvana
• Tata AIG Life MahaLife Gold
• Tata AIG Life InvestAssure Future

ING Vysya Life Insurance Company Ltd.

• ING Golden Life
• Best Years
• New Future Perfect
Bajaj Allianz Life Insurance Company Limited

• Swarna Vishranti
• Future Secure
• Future Income Generator
• New UnitGain Easy Pension Plus SP
• Pension Guarantee
• New UnitGain Easy Pension Plus RP

Shriram Life Insurance Co. Ltd.

• ShriVishram
• Annuity Plan

Sahara India Life Insurance Co, Ltd.

• Sahara Amar Jeevan
• Sahara Swabhimaan

ICICI Prudential Life Insurance Co. Ltd

• Immediate Annuity
• Life Time Super Pension
• Forever Life
• Life Stage Pension
• Premier Life Pension
Kotak Mahindra Old Mutual Life Insurance Limited

• Kotak Retirement Income Plan
• Kotak Retirement Income Plan (UNIT LINKED)
• Kotak Jeevan Sukhi Plan

Max New York Life Insurance Co. Ltd

• SMART Investment Pension Plan
• Easy Life Retirement (Par) Plan

Aviva Life Insurance Company India Limited

• Secure Pension
• PensionPlus

Birla Sun Life Insurance Co. Ltd

• Birla Sun Life Insurance Flexi SecureLife Retirement Plan II
• Birla Sun Life Insurance Freedom 58

Reliance Life Insurance Company Limited.

• Reliance Total Investment Plan Series II - Pension
• Reliance Golden Years Plan
• Reliance Golden Years Plan Plus
• Reliance Golden Years Plan Value

The above schemes by the insurance companies have different strategies to invest and your hard earned money may be invested in equities, bonds or debt/money market instruments, depending on the objectives of the fund which are explained in the offer document of the scheme. The investment returns on these schemes vary according to the proportion of money invested in equity funds especially the unit linked pension plans. In some cases you get to choose between pure pension and pension cum life cover plans with flexibility to increase regular contributions, top up payments and facility to customize the plan by addition of riders to the scheme. Almost all of them provide the section 80C benefit which helps you avail tax deduction of up to Rs. 1, 00, 000 p.a.

We will continue analyze different pension schemes of Insurance firms, mutual fund & other creative voluntary plans in our blogs at pensionindia.com

Retirement planning & PensionIndia.com

The retirement plans provided by your employer be it government or private may not be enough to catch up with the inflation and the growing lifestyle that you are accustomed to. Hence, there is a need to think out of box and we at pensioninda.com help you in formulating that out of box thinking to create a robust retirement corpus. Be it creating a stream of pension payouts using dividend investment strategy via stock market or optimizing and unlocking the value of your properties via reverse mortgage, we are with you with the latest news, views & analysis in retirement arena in India.

Harbinder S Mehra(Haru)