LIC Smart Pension Scheme : Retirement planning is important to provide financial security in one’s old age. LIC Smart Pension Plan is a good means of ensuring a regular income after retirement. Through this scheme, one can earn a fixed pension every month without any financial reliance. If you want a pension plan that ensures long-term returns, this LIC scheme is an excellent choice.
What is LIC Smart Pension Plan?
LIC Smart Pension Plan is especially created to offer a guaranteed pension after retirement. In this plan, investors are given a guaranteed pension, making them financially independent in their post-retirement years.
How to Get Rs.12,000 Pension?
To get a monthly pension of Rs.12,000, investors need to invest a minimum of ₹1,00,000 in the LIC Smart Pension Plan. The pension amount is based on the withdrawal frequency:
- Monthly – Rs.1,000 per month
- Quarterly – Rs.3,000 every three months
- Yearly – Rs.6,000 every six months
- Yearly – Rs.12,000 annually
Moreover, the scheme permits joint accounts, so in the event of the death of the policyholder, the spouse will be able to avail the benefits. Investors also receive annuity benefits under this plan.
How to Apply for LIC Smart Pension Plan?
It is easy to apply for this scheme and can be done in several ways:
- Go to LIC’s official website and apply online.
- Get in touch with a registered LIC agent for offline application.
- Apply through Common Public Service Centers (CPSC).
Other Pension Options Available
Besides the LIC Smart Pension Plan, salaried employees get pensions under EPFO (Employees’ Provident Fund Organization), where a part of their salary is deducted monthly. Moreover, people can also avail pension benefits through NPS (National Pension System) and UPS (Universal Pension Scheme).