Retirement plans refers to insurance plans which aim to offer you income/ pension after retirement when you may not have any other adequate source of income.

Retirement plans provide you with a steady flow of income post retirement so that you can continue to live a financially independent life.

Unit Linked Pension Plans are a good tool to help you accumulate your savings in your earning years and give you a lump sum amount at the time of your retirement. Being a unit lnked plan, you have the flexibility to choose your investment fund and the freedom to switch between funds, depending upon your needs. At the time of maturity, you are paid the fund value based on the prevailing unit price.

• With HDFC Standard Life Pension Plans, you have the freedom to – Choose your retirement age and date.
• Choose the amount of premium to be paid.
• Choose between conventional and ULIP pension plans.
• Choose between regular payment and single premium payment options.

Pension plans from HDFC Standard Life allow you to choose your retirement date. You can retire at any age between 50 to 70 years.

On the retirement date, you will get the Sum Assured plus any attached bonuses in case of conventional plans. In case of Unit linked plans, you receive the fund value of the units you hold.

At least 2/3rd of the amount you receive on retirement has to be used to buy an annuity from an insurance company. This annuity provides you income post retirement.