Overview: Pension plans ensure a regular income stream post-retirement, allowing you to maintain your lifestyle without financial worries. They are a perfect tool for retirement planning in India.
Key Features:
Regular pension payouts post-retirement.
Option for deferred or immediate annuities.
Tax benefits under Section 80CCC.
Why It’s Important: With increasing life expectancy and inflation, pension plans offer a reliable source of income for your golden years.
Benefits:
Financial independence post-retirement.
Various payout options.
Spouse protection with joint annuity options.
FAQs:
1. Can I withdraw my pension plan early? Partial withdrawals may be allowed, subject to terms.
2. What is the vesting age? Typically ranges from 40 to 70 years.
