pension-plans

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Pension Plans
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How do pension plans work?
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Types of pension plans in India

• Immediate Annuity Your pension begins almost
  immediately after a policy is purchased and a
  lump sum amount has been deposited by you.
• Deferred Annuity A corpus can be accumulated
  over a policy term through regular premiums and
  your pension starts after the term is over.
• Annuity Certain Your pension is paid in a series
  of payments over a set period of time that can be
  chosen by you.
• Life Annuity Your pension is paid to you for
  your lifetime. In case of an unfortunate event,
  your spouse is entitled to the pension.
• With Cover Pension Your pension plan includes an
  insurance cover that entitles your dependents to
  a lump sum amount in case of an unfortunate
  event.
• National Pension Scheme Managed by the central
  government, you can withdraw 60 of the amount at
  retirement while 40 must be used to purchase an
  annuity.

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