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Pension Plan in India

Retirement & Pension Plans in India - Start your retirement planning with SBI Life pension schemes that will provide you retirement income even in your old age. Get your retirement policy now!

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Pension Plan in India

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  1. Pension Plan in India

  2. Pension Plan in India • SBI Life Insurance, one of the top insurers in India, is a partnership between the State Bank and BNP Paribas. To meet the needs of those looking for insurance, SBI Life Insurance Company provides a comprehensive choice of insurance products. SBI Life Pension Plan in India are comprehensive retirement programmes that are created especially to meet a person's financial needs after retirement. • After retirement, SBI Life Pension Plans pay out annuities to the retirees. Deferred annuity and instant annuity options are available for SBI pension programmes. Let's look at the different sorts of pension plans before delving into the specifics of the SBI pension programmes.

  3. Different Types of Pension Plan in India? • A conventional pension programmethat offers the different types of pension plan: • SBI Life – Retire Smart Plus • Besides market linked returns, the SBI pension plan also gives guaranteed additions to further increase the corpus • Guaranteed Additions accrue @10% of the annual premium from the 15th year of this SBI pension plan till the end of the term. • Moreover, a Terminal Addition @1.5% of the Fund Value will be paid on the vesting date. 2. SBI Life – Saral Pension • The SBI pension plan participates in the company’s profits and bonus is declared under the plan • On Vesting the chosen Sum Assured including the Simple Reversionary Bonuses and Guaranteed Bonuses accumulated during the term of this SBI pension plan and a Terminal Bonus, if any is payable to the policyholder. 3. SBI Life - Smart Annuity Plus • The annuity is paid is paid immediately once the single premium is deposited with the insurer under the SBI pension plan • There are two annuity options under the SBI pension plan. The first option is for a single life and the second option is for a joint life annuity. Both the options are further sub-divided into further annuity payout options.

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