Top 10 Pension Plans in India 2025

HDFC Life Click 2 Retire Plan

The HDFC Life - Click 2 Retire plan is a unit-linked pension plan that assists you in meeting your retirement goal.

Features and benefits:

1. No charges for entry, exit, and policy administration
2. Single Pay and Limited Pay options are available
3. Death benefits payable to the nominee will be 105% of the premiums paid up to that point
4. Plans can be purchased at a starting price of Rs.2,000 per month

Max Life Guaranteed Lifetime Income Plan

The Max Life Guaranteed Lifetime Income Plan ensures that you receive a steady income with multiple benefits after retirement.

Features and benefits:

1. Six Annuity options are available
2. Pension amount is offered in four annuity payout options: monthly, quarterly, half-annually, or annually
3. The minimum premium amount is Rs.1,000 per month
4. You can select between a single life and a joint life annuity

SBI Life Saral Retirement Saver Plan

The SBI Life Saral Pension plan assists you in growing a retirement corpus and also ensures your family's future is secure.

Features and benefits:

1. The plan offers a life insurance option with the SBI Life - Preferred Term Rider
2. You can avail income tax benefits according to the applicable Indian income tax regulations
3. Grow your retirement fund by receiving regular simple reversionary bonuses during the insurance term
4. The premium payment modes available are single, monthly, half-yearly, and yearly

LIC New Jeevan Shanti Plan

The LIC New Jeevan Shanti plan is a single premium plan in which you can select between a single life and a joint life deferred annuity.

Features and benefits:

1. This plan can be purchased both online and offline
2. Additional Death Benefit will be paid at the completion of each policy month until the end of the Deferment Period
3. Annuity modes available are monthly, quarterly, half-yearly, and yearly
4. Policy loans can be availed after three months of policy conclusion

Bajaj Allianz Life LongLife Goal

The Bajaj Allianz Life LongLife Goal plan is a unit-linked plan that offers you a steady income until you attain the age of 99 years.

Features and benefits:

1. The plan is available in two variants: LongLife Goal with Waiver of Premium and LongLife Goal without Waiver of Premium
2. Four investment portfolio options are available
3. Loyalty Additions are offered every year from the fifth policy year to 25th policy year
4. Partial withdrawals can be made after the fifth policy year

IndiaFirst Life Guaranteed Annuity Plan

The IndiaFirst Life Guaranteed Annuity Plan, an annuity pension plan, comes with a variety of choices to let you tailor your retirement coverage to your unique requirements.

Features and benefits:

1. Choose from 12 different annuity plans based on your needs to ensure a steady lifelong income
2. The top-up option allows you to increase the amount of your annuity
3. Avail tax benefits on the premiums paid
4. The Deferred Life Annuity Option lets you delay your annuity payments

ABSLI Empower Pension Plan

ABSLI Empower Pension Plan is a unit-linked pension plan that allows you to save for retirement in a simple and hassle-free manner.

Features and benefits:

1. Select Conservative/Moderate/Aggressive risk profile for your investments
2. Partial withdrawals are allowed on completion of five policy years
3. Two different plan options that meet your diverse requirements
4. Premium payment can be made on a monthly, quarterly, half-yearly, and yearly basis

Kotak Premier Pension Plan

Kotak Life Insurance has launched the Kotak Premier Pension Plan that ensures you receive regular income along with added benefits after retirement.

Features and benefits:

1. You can select from two rider options
2. The plan offers bonuses from the sixth policy year
3. You will receive a minimum guaranteed benefit equal to 105% of the premiums paid up to the date of death or vesting
4. Guaranteed Additions will be offered in the first five policy years.

Tata AIA Guaranteed Monthly Income Plan

The Tata AIA Life Guaranteed Monthly Income Plan offers regular income and financial security for your family, assisting you in planning your future.

Features and benefits:

1. Flexibility in planning your monthly income for 10/16/24 years
2. Receive assured income every month for up to 288 months
3. You are entitled to tax benefits in accordance with the current tax regulations
4. Loans against the policy can be availed

ICICI Pru Easy Retirement Plan

ICICI Pru Easy Retirement Plan helps in providing regular income to the policyholder through investment opportunities in stocks.

Features and benefits:

1. This plan has various payment frequency methods like biannual, monthly, and yearly. Policyholders can pay premiums on monthly, half yearly, and yearly basis.
2. As this is a pension policy, the insured can reduce their taxable income.
3. The death benefit in this plan is equal to 105% of the total premium paid.

Basis for Selection of Pension Plans

The insurers have been selected based on their highest annual new business premium income in the mentioned fiscal year. Here is the table that highlights the selected insurers and their annual new business premium income in FY 2021-22, based on the highest to lowest income in terms of Annual New Business Premium: