123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Insurance >> View Article

Role Of Pension Plan In Retiring Rich

By Author: Easy policy
Total Articles: 20

The role of the pension policy has come into focus, given the increasing life expectancy in India and the rising costs of living associated with inflationary pressures. With there being a wide range of options available to invest your money in, retirement planning is all about investment returns, helping you take charge of life as you get set to relax after having a run at it.

As is always the case, it pays to plan well of your retirement age. Pension plans involve investing small and regular amounts of money into securities that are approved and strictly monitored by the IRDA, the Insurance Regulatory and Development Authority. This is known as the accumulation phase, where the amounts that you invest in pension plans tend to get accumulated for the payout that you plan for in your retirement age. You could choose the number of years that plan to spread your accumulation phase over, giving you flexibility in your retirement planning in line with your earnings, plans, and circumstances.

Alternatively, there is also the option of immediate annuity, where you could reap the benefits of your pension policy by investing a lump sum amount. This is another form of retirement planning that lets you get returns on a regular basis on the amount invested in one shot.

Technically speaking, the period that you start getting the investment returns out of your retirement plans is called the vesting age. This period is marked by regular payouts, though you may not be able to withdraw any of your invested amounts. The next phase in pension plan is the annuity phase – this phase allows you to withdraw as much as one third of your invested amount, while the rest of your investment plan is used to pay your pension

You could see how you could use your hard earned earnings to get investment returns in your retirement age – whether it is rising costs, medical expenses, or general living expenses, you do not have to deal with uncertainties of the future when you invest in pension policy. This way, you ensure that you are well poised for the stage of life that is all about freedom and choice. Ultimately, the best pension plan is one that gives you peace of mind with minimal risks involved, while maximising your investment returns.

Compare pension plan quotes and chose best plan to get regular income after retirement. We helps to compare best offers from leading insurance companies.

Total Views: 85Word Count: 408See All articles From Author

Insurance Articles

1. Important Guideline To Be Followed Post Meeting A Car Accident
Author: Chicago Auto Appraisals

2. 5 Things To Expect In A Travel Insurance Policy
Author: omega

3. Young Drivers Choose To Be Behind The Wheels Over Luxuries, Says Survey
Author: Brijesh B.

4. Health Medical Insurance Agents And Dental Life Small Group Health Supplement Plan - California
Author: Stan Ofomata

5. Understanding The Working Of Payday Loans
Author: Broad Stevens

6. Learn How To Get Auto Insurance With No Down Payment, Free Expert Advice Online
Author: Janicel Porto

7. Bad Credit Auto Insurance - Get Expert Assistance
Author: Victor Cano

8. Check If You Can Get Approved For Cheap Auto Insurance With Bad Credit
Author: Terry Calvert

9. Ready To Pay Heavy Fines For Texting Or Calling At The Wheel
Author: Brijesh B.

10. Look For Public Liability Insurance In India
Author: Plan Cover

11. Fewer Than 8% Of Uk Businesses Know The Necessity Of Health Insurance For Their Overseas Employees
Author: Brijesh B.

12. Important Information On Marine Insurance Policy
Author: Plan Cover

13. Need Of Business Insurance In Business
Author: Michael McCullough

14. Best Car Insurance With Military Discount For Military Dependents
Author: Victor Cano

15. Indepenedent Insurance Agency In Lexington Can Meet Your Needs
Author: Shaun Michel is the author of this article.

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: