A person in private or government employment who invests the amount received from PF fund and gratuity in this scheme before retirement will continue to get pension every month throughout his life.
Mumbai: Employed people save certain amount from their income. Employees invest to continue receiving income after retirement. There are many investment options available for retirement. If you are looking for a safer option, LIC has a plan. In this scheme you can get monthly pension by investing a lump sum. In this scheme you have the facility of taking loan. But the important thing is that you can invest in this only if you are 40 years old.
A person in private or government employment who invests the amount received from PF fund and gratuity in this scheme before retirement will continue to get pension every month throughout his life. The name of this scheme is LIC Saral Pension Scheme. This scheme guarantees pension every month after retirement. You only have to invest this once, then get pension for life. LIC Saral Pension Yojana is very popular as a retirement plan. This scheme gives you a pension of Rs 12 thousand per month after retirement.
Age limit for investment in the scheme
A person below 40 years of age cannot invest in this scheme. Maximum age limit is 80 years. Under this policy, an annuity of Rs 1000 per month has to be taken. Annuity of 3000 for quarter, 6000 for six months and 12000 for annual annuity has to be taken.
How to get Rs 12000 pension?
In LIC's Saral Pension Yojana, you can buy an annual annuity of at least Rs 12 thousand. There is no maximum investment limit in this scheme. Under this policy scheme, one can avail annual, half yearly, quarterly and monthly pension by paying one time premium. According to the LIC calculator, if a 42-year-old takes an annuity of Rs 30 lakh, the monthly pension will be Rs 12,388.
You can buy this plan of LIC by visiting the website www.licindia.in . You can surrender or take a loan after completing six months of taking this policy. The loan amount depends on the investment amount.
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