Top 10 Best Pension Plans In India 2019 – If you’re looking for a retirement plan to help you with your needs after you’ve finished work, visit the Policy Planner website to find the top ten retirement plans in India and decide which one works best for you.

The top 10 Pension plans are employer-managed plans that help individuals secure their financial future and protect them from uncertainties that may arise after retirement.

These plans are particularly suitable for seniors who want to plan their retirement effectively.


pension plans


List of Top 10 Best Pension Plans In 2019

Below is the list of top 10 Pension Plans In India 2019:

1.LIC Jeevan Akshay 6 Pension Plan

The LIC Jeevan Akshay 6 Policy Plan is an immediate retirement plan that can be purchased by paying a lump sum in the form of a single premium.

The pension starts immediately after the purchase of the plan. It’s the best pension plan in India 2019

Features and Benefits:

  • The pension payment can be monthly, quarterly, semiannually or annually.
  • No medical examination is required to complete this plan.
  • Minimum purchase price of 1 Rs lakh for offline distribution channels and 1.50 Rs lakh for online distribution channels.
  • No upper limit for the purchase price, pension, etc.
  • The minimum age for admission is 30 years and the maximum age is 85 years.
  • Proof of age required.
  • The paid premium is tax-free.


2.Jeevan Nidhi Pension Plan of the LIC

The Jeevan Nidhi Plan of the LIC is a retirement plan. The accumulated amount of the Jeevan Nidhi LIC plan is used to generate a pension for the policyholder based on his survival after the contract period. It’s second top best pension plan available in India 2019.

Features and Benefits:

  • Paid premiums are exempt according to 80CC of the Income Tax Act.
  • During the first five years, the policyholder will receive guaranteed bonuses of Rs 50 / month per the sum insured for each full year.
  • From the sixth year, the police participate in profits of the company according to the conditions set by the company.
  • The minimum basic insurance amount is 1 Lakh Rs for the regular premium and 1.50 Rs for the single premium.
  • No upper limit for the basic insurance sum.
  • The term of the policy varies between 5 and 35 years.
  • The minimum age for the acquisition of 55 years and a maximum of 65 years.

Also Read: LIC Pension Plan


3.SBI Life Saral Pension Plan:

The SBI Life Saral Pension Plan is a traditional, independent, individual plan that offers policyholders protection against market volatility. SBI Life Saral Pension Plan it’s the best pension plan in India & it’s rank on the third.

Features and Benefits:

  • Guaranteed premiums for the first 5 years, 2.50% of the sum insured for the first three years and 2.75% of the sum insured for the following two years.
  • The policyholder will be assured of the acquisition of premiums at the end of the plan.
  • The minimum term of the policy is 10 years and the maximum term is 40 years.
  • Minimum premium of Rs 7,500 per year with no upper limit.
  • The minimum age for admission is 18 years and the maximum age is 65 years.
  • Minimum age 40 years and a maximum of 70 years.
  • Minimum insurance sum of 1 Rs lakh without any upper limit.

Also Read: SBI Health Insurance Plan


4.HDFC Life – Click2Retire:

The HDFC Life – Click 2 Retire Plan is a unit-linked online plan that provides policyholders with market-based returns with minimal fees and helps meet post-retirement needs. One of the best retirement plans provide by HDFC life in 2019, & it’s rank on the fourth position.

Features and Benefits:

  • Benefits of acquiring rights and additional market revenues.
  • Minimum age of 18 years and maximum 65 years.
  • Low maturity 45 years and a maximum of 75 years.
  • The death benefits paid to the candidate are higher by the value of the contract fund or by 105% of the premiums previously paid.
  • Tax advantages according to § 80C and 10 (10A) of the Income Tax Act of 1961.

Also Read: Top 10 Best ELSS Funds to Invest in 2019


5.HDFC Life – Assured Pension Plan:

The HDFC – Assured Pension Plan is a unit-linked pension plan that serves market-based returns with increases in loyalty to the policyholder to meet its pension goals. It’s second-best pension plan provide by HDFC Life, & it’s rank on the fifth position on our list.

Features and Benefits:

  • Benefits of acquiring rights and additional market revenues
  • Fidelity supplements every two years from the eleventh year
  • Minimum age of 18 years and low employment/term of 45 years
  • Limited and unique payment options
  • The death benefits paid to the candidate are higher by the value of the contract fund or by 105% of the premiums previously paid.
  • Tax advantages under § 80C and 10 (10D) of the Income Tax Act of 1961

6.ICICI Pru – Easy Retirement:

This plan helps the insured to earn a steady income when his salary ends after retirement by investing in stocks. ICICI Pru Easy Retirement generates good long-term returns and protects against market volatility. In India, 2019 ICICI Pru represent Easy Retirement Plan & Now it’s ranking on the sixth position, in our the top 10 best pension plans in India list.

Features and Benefits:

  • Minimum premium of 48,000 rupees per year without an upper limit.
  • Monthly, biannual and annual payment frequency modes.
  • Minimum age of 35 years and maximum 70 years.
  • The minimum age for the acquisition of the rights of 45 years and a maximum of 80 years.
  • The policy is available for 10, 15, 20, 25 and 30 years.
  • Tax benefits on premiums and benefits.

Also Read: Top 10 Life Insurance Companies In India 2019


7.Reliance – Smart Pension:

The Reliance Smart Pension Plan is a non-participatory unit-linked pension plan that allows the policyholder to systematically save on a lump sum to earn a regular income after retirement.

Features and Benefits:

  • The term of the policy varies between 10 and 30 years.
  • Double benefit from equity participation and capital guarantee.
  • Get guaranteed loyalty supplements.
  • The minimum age for the acquisition of rights of 45 years and a maximum of 75 years.
  • Tax advantages according to § 80C and 10 (10A) of the Income Tax Act of 1961.


8.Bajaj Alliance – Pension Guarantee:

The Bajaj Allianz Pension Guarantee Plan offers the policyholder a guaranteed, regular income after retirement for the duration of his life with a range of immediate benefits. Bajaj Alliance is one of the best insurance company in India & it represents the Pension Guarantee Plan. Now It’s rank on the eighth position in our top 10 best pension plans in India 2019.

Features and Benefits:

  • Six pension options to choose from.
  • Admission age at least 37 years and a maximum of 80 years.
  • Minimum purchase price of Rs 25,000 without an upper limit.
  • The minimum pension is 1,000 rupees (monthly) and the maximum pension is 12,000 rupees (annually).
  • Possibility to extend the pension to the spouse.

Also Read: Top Best 5 Life Insurance Plans In India 2019


9.Max Life Guaranteed Lifetime Income Plan:

The Max Life Guaranteed Life Income Plan is an independent, traditional pension plan that guarantees the policyholder a regular income after retirement.

Features and Benefits:

  • Ability to receive lifelong payments while you and your spouse are alive
  • The purchase price of the policy will be refunded to the nominee after the death of the subscriber.
  • The pension can be paid monthly, quarterly, semi-annually or annually
  • Four pension options to choose from
  • Option to choose a lump sum to buy the policy

Also Read: Top 5 Best Term Insurance Plans In India 2019


10.Birla Sun Life Empower Pension:

The Birla Sun Life Empower Pension Plan is an indivisible pension plan designed to increase the policyholder’s savings after retirement & it’s rank on 10th position on our best pension plans list.

Features and Benefits:

  • The term of the policy varies between 5 and 30 years, with the maximum retirement age being 80 years.
  • Admission age at least 25 years and at most 70 years.
  • Option to choose the amount of your premium.
  • Option to select the acquisition date with an accumulation period of 5 to 30 years.
  • Choose the risk profile based on risk appetite.

FAQ- Pension Plan

Que.1 What is the difference between 401,000 and a pension fund?

Ans. What is the difference between a Pension plan and a 401 (k) plan? A pension plan is sponsored by the employer, while a 401 (k) is funded by the employee. With 401 (k) you can control your contributions to the funds. There is no old-age provision

Que.2 What is a pension fund and how does it work?

Ans. A retirement plan is a type of retirement plan in which an employee adds money to a fund that includes contributions from the employer. The pension payments of the employee are based on the length of his working years and his annual income at work, which leads to retirement.

Que.4 How is a pension calculated?

Ans. Calculation of the value of a pension. Most pensions are paid from a certain age and remain until death. The amount of the pension depends on the number of years of service, the age from which you want to start earning, and usually on the average annual income in the last years of service.

Que.5 Jeevan Anand from top 10 best pension plan?

Ans. LIC New Jeevan Anand – Main Features:
It’s mainly one of the top 10 LIC Pension Plans.
LIC Jeevan Anand is a traditional endowment plan for life. The plan offers the insured the possibility of regular premium payment. In the case of survival until the end of the term of the plan, the benefit is paid out to the insured at maturity and the plan remains in force.

WhatsApp chat