Pension Plans for Retirement Planning

Retirement & Pension Plans provide you with financial security so that when your professional income starts to ebb, you can still live with pride without compromising on your living standards. Given the high cost of living and rising inflation, Retirement planning has become all the more important.

What are Pension Plans?

Pension plans are investment plans that lets you allocate a part of your savings to accumulate over a period of time and provide you with steady income after retirement. Retirement & Pension Plans provide you with financial security so that when your professional income starts to ebb, you can still live with pride without compromising on your living standards. Given the high cost of living and rising inflation, Retirement planning has become all the more important.

Why You Need Retirement and Pension Plans?

Retirement & Pension Plans provide ample regular income in retirement with the help of money saved during work life. Your family can maintain its lifestyle without your regular pay cheque despite constantly rising living costs.

Adequate retirement planning also help you to meet unexpected expenses without a worry.

How HDFC Life Retirement and Pension Plans Help?

Investments with regular premiums or a lump sum payment makes your money grow well during your work life.

On retirement, a part or the whole of this savings can be used to create regular retirement income.

 

All Plans

HDFC Life Personal Pension Plus
This pension plan is designed to help you secure your retirement fund. Read More
HDFC Life Guaranteed Pension Plan
This pension plan gives you guaranteed returns for your retirement. Read More
HDFC Life New Immediate Annuity Plan
A Retirement Plan that provides regular income in your retirement years. Read more
HDFC Life Pension Super Plus
Regular premium plan that builds corpus for post retirement. Read More
HDFC Life Single Premium Pension Super Plan
Build corpus for retirement with one single premium Read More
HDFC Life Assured Pension Plan– ULIP
HDFC Life Assured Pension Plan – ULIP" is a Unit Linked Plan that offers you market linked returns. Read More
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Retirement Plans

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3 Reasons You Need to Start Planning Your Retirement Today
By your mid-thirties, chances are that you have settled down and are earning a decent salary. Your standard of living has seen a great improvement since your twenties, when you first joined the workforce. But have you stopped to think about what happens when you are no longer able to work for a living? No, retirement planning is not something you need to worry about when you’re older. It’s something you need to act on today. Getting an early start on building that retirement nest egg can make a world of a difference to the security of your financial future. Here’s why you should start planning for your retirement today.
  • We all know the burden of taxes can be a hard one to bear, especially when you have a family to provide for. With the weight of these financial burdens, it can be easy to neglect yourself and your future financial security. You tell yourself that you’ll start saving for retirement once you get that promotion, once you turn 40 or once your kids go off to college.

    However, the sooner you begin the better. In fact, investing money in your retirement plan can even help you save on taxes. By investing in retirement schemes such as the Public Provident Fund (PPF) and New Pension Scheme (NPS), you can avail up to Rs.1.5 lakhs in tax deductions under Section 80C.*

    What’s more, the power of compounding has a lot to offer you. Say you begin investing Rs.300 per month at the age of 25. Assuming an interest rate of 8%, you’d have over Rs.1 million by the time you are 65. Now if you invested the same amount starting at the age of 35, you’d have only Rs.440,000 at 65. In this case, starting a decade earlier would more than double your final amount.

  • When you’ve spent your life supporting and providing for your children, it’s likely that they will want to help you out financially in your old age. However, being too dependent on them could mean them delaying their own financial goals as young adults. Wouldn’t it be better instead for you to have your own source of income? The earlier you start on your retirement savings, the bigger corpus you’ll have to fall back on. Perhaps you will even be able to help your children as they get settled!

    And should something happen to you, a retirement plan or a pension plan will help ensure that your spouse and children are looked after in your absence.

  • Sometimes it seems that the harder you work, the more inflation gets ahead of you. But what do you do about it? You save - not only for short-term goals and emergencies, but for your retirement as well. Even if it is only a small sum that you can manage to stash away at the end of the month, it’s better than nothing, and the small sum will grow eventually.

    So don’t hesitate to start investing. Start small and let compounding do its job, so you don’t have to live small later in life. It’s possible to maintain your current standard of living after you retire or even go on that dream vacation. All it takes is the right approach.

    Now that you’ve seen how early retirement planning can help you continue to live life on your own terms even after you’ve stopped earning, your next step is to start investing in a retirement plan. With the abundance of options available in the market, it can be difficult to zero in on the retirement plan for you. At HDFC Life, we provide retirement plans to help you meet the high cost of living and rising inflation. Choose from our range of pension schemes to find the one that best suits your needs.

    *http://profit.ndtv.com/news/budget/article-budget-2015-16-offers-additional-tax-benefit-on-pension-scheme-743241

HDFC Life Click 2 Retire- ULIP
Your retired life is for you to enjoy, not for you to worry about taxes. With HDFC Life Click 2 Retire you can plan your retirement for just Rs 2000 per month and avail tax benefits.
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FAQs

A nominee is the person who would receive the sum assured or benefits in the eventuality of the policyholders' death. you may change your nominee or the percentage of nomination during the tenure of the retirement plan
You have to submit the duly filled and signed Policy Servicing Request Form along with the original policy document at any HDFC Life branch.

For Pension Plans or Retirement Plans, the vesting date is the Maturity date on which the policy holder can take 1/3 of the Maturity value as a cash lump sum and remaining should be used for purchasing Annuities/ policyholder can also use 100% of maturity value for purchasing Annuities.
*Annuity Kit is sent 30 days in advance to the correspondence address before the maturity of the pension policy.

You can pay your retirement plan premiums online via:
Netbanking
Credit card/ Debit card
Debit Card with PIN
SI on card

In case of any queries related to plan or form filling pls call our toll free number 1800 266 9777 or contact us at Buyonline@HDFCLife.in
For submitting documents or any other query after premium payment, you can write us at onlinequery@hdfclife.in or call us on toll free number 1800 266 0315.
Post policy Issuance you can reach out our customer service desk on 1860 267 9999 (Local call charges apply) or write to us at SERVICE@HDFCLife.com

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