Invest in LIC Saral Pension Plan to Get Lifetime Rs 12K Monthly Pension
Get Rs 12,000 monthly pension through LIC Saral Pension Plan. One-time payment required. Open to citizens aged 40 to 80. Choose payout frequency.
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The Life Insurance Corporation of India announced on Monday that investors aged 40 to 80 can secure a guaranteed pension of Rs 12,000 per month by purchasing an annuity under its Saral Pension Plan. The policy requires a one‑time premium payment, after which policyholders begin receiving regular payouts according to their chosen frequency.
Under the Saral Pension Plan, the minimum annuity purchase amounts are set at Rs 3,000 for quarterly payouts, Rs 6,000 for semiannual, and Rs 12,000 for annual payments. To obtain monthly disbursements, an annuity unit of Rs 1,000 must be acquired. Investors free to allocate any multiple of these annuity units can tailor the total pension sum to their retirement needs.
LIC officials noted that private‑sector and government employees may channel provident fund balances and gratuity into the plan before retiring. Once the annuity purchase is complete, payouts commence immediately and continue for the remainder of the investor’s life.
A sample illustration provided by LIC shows a 42‑year‑old purchaser investing Rs 30 lakh through the LIC calculator would receive a monthly pension of Rs 12,388. The calculator factors in prevailing annuity rates and investor age at the time of purchase.
The plan’s payment schedule offers flexibility: policyholders can elect to receive the pension on an annual, semiannual, quarterly, or monthly basis after the single premium is paid. LIC recommends that investors review their retirement income requirements and select the annuity multiple that best matches their long‑term cash‑flow needs.
The Saral Pension Plan aims to address gaps for individuals whose employers do not offer defined‑benefit pension schemes. By converting accumulated savings into a lifetime income stream, subscribers can manage post‑retirement expenses without relying solely on market‑linked returns.
Applications for the Saral Pension Plan are available at LIC branches and through the corporation’s website. Investors seeking further information can consult LIC’s online resources or speak with a licensed agent to calculate the precise premium required for their desired monthly pension.
