Pension Plan also known as retirement plan is an insurance contract that specifies pension plan contributions to an insurance undertaking in exchange for which the pension plan benefits will be paid when the members reach a specified retirement age or on earlier exit of members from the plan. 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.

Retirement is like a long vacation. You get all the time in the world to travel, have long lunches and siestas and pursue your hobbies. As India does not offer one of the best environments for senior citizens it is important to plan for your retirement in advance. India’s consistently high inflation is noted as one of the big concern. This is why, timely investment in retirement plans is very crucial. Retirement Planning can provide you a stable source of income even after you stop working. Friend Digital 24 offers one of the best retirement plans in India that will help you meet your post-retirement financial needs.

These plans come in two versions and provide a source of income to people in their older ages when they have retired from active employment. Immediate Annuity plans are where the policyholder pays a bulk amount to the company to buy the plan and then annuity payouts start from the next frequency without any delay. No money is payable if the policyholder dies during the annuity phase. Deferred annuity plans are those where the annuity payments are delayed. The policyholder buys the plan for a specific term, called the deferment period, makes payments for the premium required during this period and when the period expires is eligible to receive annuity. If he dies during this period, a specific benefit is paid as death benefit. The policyholder can only withdraw 1/3.