Top 9 Best Retirement Plans In 2021

Retirement planning is becoming increasingly essential with the increasing uncertainty of life. 2021 has been no different and even more harsh on the salaried groups, while many had to leave their job mid way, many had to retire years before the stipulated time, therefore you should start retirement planning from a very early age. The primary goal of retirement planning is to guarantee that your fundamental requirements are met even if your income source is no longer available. 

The type of life you will live after retirement will be determined by how early you prepare your retirement. Choosing the best plan for your requirements and financial objectives may be a tough but a necessary decision but will result in a better life after retirement. It is very important to choose the finest plan to meet your financial demands in old age. With the plethora of retirement plans available in the market, you just have to choose the best for you. 

9 Best Retirement Plans In 2021

Here is a list of the top 9 Best Retirement Plans to invest into, in 2021, have a look and find which one suits you the best:

• LIC Jeevan Akshay 6 Pension Plan

The LIC Jeevan Akshay 6 Pension Plan is currently the most purchased retirement plan. It is known to provide a lifetime pension after retirement however there is no maturity benefit as such but the fact that it is providing you with financial stability throughout your life makes it one of the best.

• Jeevan Nidhi Pension Plan of the LIC

The Jeevan Nidhi Pension Plan of the LIC is a deferred pension plan. Under this plan both regular income after retirement as well as life cover is available at desired premium rates. It also provides great tax benefits. 

• SBI Life Saral Pension Plan 

The SBI Life Saral Pension Plan is your traditional pension plan where you pay regular premium plan and in return it provides you with life cover and many kinds of bonuses frequently, it also provides maturity benefits. 

• Reliance – Smart Pension Plan

The Reliance Smart Pension Plan is a unit linked and quasi pension plan which helps you to build a corpus for your post retirement days. Investments in the units also subject the corpus to market share in order to increase your wealth.

• HDFC Life – Click to Retire

The HDFC- Click to Retire is known for saving a lot on taxes, it helps you get an exemption of around 1.5 lacs per fiscal year according to the Income Tax Acts. Apart from that, it provides you with regular remuneration after retiring, for a lifetime. 

• HDFC Life – Assured Pension Plan

The HDFC Life- Assured Pension Plan helps ensure your retirement with a secure income and a profit on the market.  Every other year starting in the eleventh year from the early beginning, you will receive pension multipliers. You can sign up for this policy as soon as you are 18. 

• Bajaj Allianz – Pension Guarantee

Bajaj Allianz- Pension Guarantee is a great way to keep your pension assured in the course of the years and it lets you enjoy life after retirement. It helps get set revenue at the rate of payment of the selected rent. Payment for Annuity may occur every month, quarterly, six months or yearly.

• Max Life Guaranteed Lifetime Income Plan

Max Life Guaranteed Lifetime Income Plan comes with a lifetime pension fund which caters to the individual’s different needs. It comes with multiple annuity options and along with payout flexibility it provides tax benefits as well. 

• Birla Sun Life Empower Pension

The Birla Sun Life Empower Pension is a quasi unit-related pension plan with a broad variety of advantages. The scheme helps the person save for his retirement for a safe future. The Birla Sun Life Insurance plan offers a variety of investment choices that may be chosen by the person and provides a good corpus amount after retirement. 

Take Away

There are several such choices for the Pension Plan in 2021. You can select a plan that meets your needs for a sustainable future and suits your budget. These Retirement Funds assist you in achieving financial stability so that you can spend your golden years of post-retirement freely and live carefree.

Also read 

How To Calculate Retirement Savings?

Best Life Insurance Retirement Plans 2021

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.