Archive · 9 Jun 2025
LIC Saral Pension: Key Details for Investors
The LIC Saral Pension Plan is like a special savings plan for retirees.
You pay a lump sum, and then the company gives you regular payments for the rest of your life.
This plan is designed to be simple and provide a steady income.
You can choose how often you get paid: monthly, quarterly, or yearly.
You can also borrow money against the plan after six months, and it has tax benefits.
The goal is to help people in India have a secure income during retirement.
There is no limit to the investment amount.
LIC's Saral Pension Plan is a standardized immediate annuity scheme.
It offers a guaranteed lifelong income stream for retirees.
The plan is a single premium, non-linked, and immediate annuity policy.
Pension payments begin one month after purchase.
The plan is eligible for tax benefits under Sections 80C and 10(10D).
- Who
- Resident individuals aged 40 to 80 years seeking a steady pension income.
- What
- LIC's Saral Pension Plan, a standardized immediate annuity scheme.
- When
- Pension payments begin one month after the purchase of the plan.
- Where
- India
- Why
- To provide retirees with a guaranteed lifelong income and simplify pension options.
- Age Eligibility
- 40 to 80 years
- Policy Type
- Single premium, non-linked, non-participating, and immediate annuity policy
- Annuity Payout Options
- Monthly, quarterly, half-yearly, or annual
- Minimum Annuity Payouts
- ₹1,000/month, ₹3,000/quarter, ₹6,000/half year, or ₹12,000/year
- Loan Availability
- After six months of policy commencement
- Tax Benefits
- Eligible under Sections 80C and 10(10D) of the Income Tax Act