Secure Your Financial Future

Retirement can be a stressful time, but having a pension plan in place can provide some peace of mind. A pension plan guarantees a steady income stream for policyholders during their retirement years. Here are some key features to consider:

1. Guaranteed Income: With a pension plan, you can count on a guaranteed income for life or for a specific term chosen by you.
2. Flexibility: You have the flexibility to choose how often you receive payouts (monthly, quarterly, annually) and how you receive your pension (for as long as you live, with return of purchase price, etc.).
3. Accumulation Phase: Before retirement, you’ll pay regular premiums to build up your pension fund during the accumulation phase.
4. Vesting Age: The age at which you start receiving pension payments is called the vesting age, typically set when you purchase the policy.
5. Benefit: If you pass away during the accumulation phase, a benefit is usually paid out to your nominee or beneficiary.
6. Tax Benefits: Contributions made towards your pension plan may be eligible for tax benefits under Section 80CCC of the Income Tax Act, and the pension you receive may be subject to tax based on current tax laws.

Having a pension plan can provide financial security and stability during your retirement years. It’s important to consider all the features and benefits before choosing a plan that best suits your needs.