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How to make your money work now, so future you can chill!

Retirement Plan, in a Nutshell

Retirement Plan, in a Nutshell

What

You invest in a plan while you’re earning and later get a steady income or lump sum after retirement. It also includes life cover.

Why

It helps you manage daily expenses, handle medical costs, save on taxes, and enjoy your retirement without depending on anyone financially. 

When

Start early when your income is at peak and responsibilities are low. This way your money will stay invested for a longer time and will give you a substantial retirement corpus. 

How much

Enough to replace your income, cover your expenses, beat inflation, and support the lifestyle you want.
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5 Steps to Get Retirement-Ready

Picture your retired life

Picture your retired life

Travel? Hobbies? Just chill? Decide when you want to retire and how much monthly income you’ll need to live that dream.

Map your finances

Map your finances

Note what you already have, EPF, PPF, mutual funds, savings. Then see how much more to invest to reach your goal by calculating your retirement corpus.

Pick what fits you best

Pick what fits you best

Want safety? Go for guaranteed plans like insurance-backed retirement plans. 
Want growth? Try market-linked options like NPS or pension ULIPs.

Customize your plan

Customize your plan

Increase investments over time, pick a payment frequency that fits your budget, choose payout, lump sum, monthly income, or both. 

Keep checking in

Keep checking in

Your life and goals will evolve, make sure your plan does too. Review and tweak 
when needed.

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Annuity Plans For Retirement Income

Annuity Plans

Annuity Plans are retirement plans offered by life insurance companies that help you get a steady income after you stop working. They also give life cover, so your family stays financially protected.

Here’s how they work

You put in money while you’re earning, and later, it comes back to you as regular payouts aka pension. 

 

Payout can be received in two ways: 

 

  • Deferred Annuity- Pension starts later, after your corpus has grown further. 

 

  • Immediate Annuity- Pension starts right after investment. 

The Right Time To Start Planning

Why It Matters

  • Long investment horizon
  • Fewer responsibilities
  • Affordable premiums

Retirement Moves

  • Start with market-linked plans with smaller contributions
  • Let compounding work

Why It Matters

  • More financial responsibilities
  • Need a higher corpus and better financial maturity

Retirement Moves

  • Opt for a mix of market-linked and safe options (PPF/EPF)
  • Continue long-term investing

Why It Matters

  • Peak expenses
  • Less time to save
  • Need safer options

Retirement Moves

  • Go for guaranteed returns
  • Choose deferred annuity/guaranteed retirement plans
  • ULIPs with a clear time horizon for 
wealth creation

Why It Matters

  • Retirement is close
  • Need aggressive saving but 
lower risk

Retirement Moves

  • Considering single premium or immediate annuity plans
  • Focus on liquidity and low-risk investments

Why It Matters

  • Retirement is here
  • Focus on stable income and 
corpus safety

Retirement Moves

  • Choose immediate annuities or withdraw from NPS/EPF for regular income
  • Retirement Planning
  • Annuity
  • Vesting Period
  • Deferment Period
  • Policy Surrender Charges
  • FIRE
  • Joint Life Insurance

No Jargon Zone

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Frequently Asked Questions, Klarified.

How much do I really need to retire comfortably?

There’s no one-size-fits-all, it depends on the lifestyle you want post-retirement. Start with your current monthly spend, adjust it for inflation, and then multiply by the estimated years you expect to live post-retirement. That gives you a rough idea of the retirement corpus you should aim for.

Is early retirement possible in India?

Yes, you can retire early in India, but remember, the earlier you stop working, the longer your retirement funds need to last. The average Indian lives about 69 years*. So, if you retire at 40, your savings must cover almost 30 years without paychecks! That means you’ve got to plan extra carefully, save aggressively, and invest wisely to make sure your money stretches through those long golden years.

 

Source: https://www.pib.gov.in/

Article: Average Life expectancy. Date: 13 March 2020

Should I consider a life insurance retirement plan?

Totally worth thinking about. These plans do more than just save money, they provide financial protection for your family when life throws a curveball. Along with life cover, they also offer guaranteed or market-linked returns, steady income post-retirement and tax perks*. Think of it as retirement, insurance, peace of mind, bundled together.

How often should I review my retirement plan?

At least once every 2 to 3 years, or whenever your financial situation changes like a job switch, salary hike, buying a house, or even welcoming a new family member.

What is a monthly pension scheme and how does it work?

Think of it as your pay cheque after retirement. You contribute regularly in your working years, and once you retire, the scheme pays you a fixed income every month. It’s a simple way to make sure your expenses are covered for life or for a defined period.
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