Top News

Economic stability after retirement is everyone’s dream. If you are also looking for a reliable source of regular income, then Sararal Pension Yojana of Life Insurance Corporation of India (LIC) can be a great option for you. This scheme is specially made for those who want to enjoy life without any concern after retirement.

The scheme launched under the guidelines of the Insurance Regulatory and Development Authority of India (IRDAI) is not only simple, but also makes pension options even more attractive. Let’s know in detail about this scheme.

Planning features

SARAL Pension Yojana is a single premium, immediate annuity policy, in which you have to deposit a lump sum. Instead, you get regular pension throughout life. It is a non-linked and non-participping scheme, that is, its return does not depend on market fluctuations. Under this scheme, the minimum pension amount starts at Rs 12,000 (monthly Rs 1,000) annually, which can be taken on quarter, semi-annual or annual basis. This flexibility makes it convenient for every income group.

Loan and tax relief

A great feature of Saral Pension Yojana is that you can take a loan six months after the policy starts. This feature is a boon for those who may require additional money in emergency. Also, the scheme also comes with tax exemption under Section 80C and 10 (10D) of the Income Tax Act, which makes it an attractive option for investment. The pension starts just a month after purchasing the policy, which starts getting you early benefits.

Who can take this scheme?

To join the Saral Pension Yojana, you must be between 40 and 80 years old. Some basic documents like PAN card, Aadhaar card, age certificate, residence proof, bank details and passport size photos will be required to take the policy. Its process is so easy that any person can avail this scheme without much paperwork.

Why choose LIC Saral Pension Scheme?

Economic freedom and security are everyone’s priority after retirement. LIC SAral Pension Yojana not only ensures a stable pension amount, but also protects your hard earned money. This scheme is ideal for those who want a reliable investment without risk. If you want to make your retirement relaxed and enjoyable, then LIC SARAL PENSION YOJANA can be a smart decision for you.