If this proposal becomes law, then people will be able to avail tax exemption on lump sum pension withdrawal as well.

The government is preparing to bring a big relief to those who invest in private pension schemes. A special committee of the Lok Sabha has recommended making the tax rules on lump sum pension withdrawal equal for all in the new Income Tax Bill. Earlier, only government and some private sector employees used to get tax exemption on this, while non-working people who invested on their own did not get any exemption. The committee has proposed to remove this difference.

What was the difference from the existing rules?

According to the system till now, employees of the central or state government and the army were completely exempted from tax on the lump sum pension amount received on retirement. Some employees of the private sector were given partial exemption.

If they have received gratuity, then on one-third amount, otherwise on half amount. However, those who have invested in recognized private pension schemes like LIC on their own (such as self-employed or freelancers), had to pay tax on the entire amount on withdrawing the lump sum pension. The committee has not considered this inequality to be right.

Who will get the benefit?

If this proposal becomes law, the following people will be able to avail tax exemption on lump sum pension withdrawal as well…

Self-employed professionals: Such as doctors, lawyers, artists or freelancers who have invested in a recognised pension fund on their own.

Such private sector employees whose company does not have any pension scheme, but they themselves have invested money in an approved pension scheme.

Legal heir or nominee: In case of death of the pension account holder, the lump sum amount received by his dependents or nominee will also be eligible for exemption.

Beneficiaries of group insurance pension: Those who are not direct employees of an organisation but receive benefits from its approved pension fund.

What is lump sum pension withdrawal?

Lump sum pension withdrawal (commuted pension) means that at the time of retirement a person can take a part of his total pension amount immediately as a large sum. The remaining part continues to be received as regular pension every month. Before the new rule, most people had to pay full tax on this large sum received immediately.

What does the government say?

The government believes that this change will reduce the tax burden on more people who are retiring. This will increase people’s savings and their financial security will also improve after retirement. Financial experts also believe that this step will bring uniformity in tax rules between government and private sector employees.

Other proposed changes in the Bill

Apart from this, the committee has also recommended improvements in some other rules related to income tax…

Relaxation in ITR requirement: Now it will not be necessary to file a full ITR just for TDS (tax deducted at source) refund. Instead, it is proposed to fill a simple form.

Refund even on late filing of returns: According to the first proposal, there was no refund on filing returns after a certain deadline. The committee has recommended changes in this so that those who file returns late can also get a refund.

Zero TDS Certificate: Taxpayers will be able to get the facility of getting a Zero TDS certificate even before the tax is deducted, so that no tax will be deducted on their income.

New Income Tax Bill will be presented in Lok Sabha today

Finance Minister Nirmala Sitharaman will introduce this new Income Tax Bill in the Lok Sabha. The Lok Sabha Select Committee headed by BJP member Baijayant Panda gave 285 suggestions on the Income Tax Bill, which were accepted by the government. If this bill is passed, this change can bring financial relief to millions of people investing in private pension schemes.

The post New Income Tax Bill: Preparations to Implement Tax Exemption in private Pension Schemes first appeared on Rightsofemployees.com.

Finance Minister Nirmala Sitharaman said on Wednesday that the number of subscribers of Atal Pension Yojana (APY) has reached about seven crores. In Atal Pension Yojana, a maximum monthly pension of Rs 5,000 and an annual pension of Rs 60,000 is available. Let us know the benefits of Atal Pension Yojana.

6.9 crore people have invested in Atal Pension

Sitharaman said at a program organized on the occasion of the launch of NPS Vatsalya Yojana that the total money deposited under this scheme has increased to Rs 35,149 crore. APY is a low-cost pension scheme that guarantees a monthly minimum pension of Rs 1,000-5,000 after the age of 60 years (depending on the contribution of the subscribers). On the death of the subscriber, his spouse will be given the same pension for his lifetime. On the death of both the subscriber and the spouse, the entire money is given to the nominee. She said that since its launch in the year 2015, 6.90 crore people have subscribed to the Atal Pension Yojana and a fund of Rs 35,149 crore has been deposited.

Deposit just Rs 210 and get Rs 5000 monthly pension

You can get a maximum pension of Rs 5,000 every month after retirement i.e. after 60 years by depositing only Rs 210 every month. The name of this government scheme is Atal Pension Yojana, in which a guaranteed pension is received every month. According to the current rules, if you join at the age of 18 for a maximum monthly pension of Rs 5,000, you will have to pay Rs 210 every month. If you pay the same amount every three months, you will have to pay Rs 626 and if you pay it every six months, you will have to pay Rs 1,239. If you invest at the age of 18 to get a pension of Rs 1,000 per month, you will have to pay Rs 42 per month.

Also Read: Special FD Closing: SBI’s special FD will be closed in 12 days, check last date here

What is Atal Pension Yojana?

The government has introduced Atal Pension Yojana in the budget 2015-16 to ensure security of income in old age. Through this scheme, the government is encouraging common people, especially those who are associated with the unorganized sector, to save as much as possible. People associated with the unorganized sector are also protected from the risk of not having income after retirement. This scheme is being run by the Pension Fund Regulatory and Development Authority (PFRDA).

You will get a pension of Rs 5,000 every month

Under the Atal Pension Yojana, subscribers get a monthly pension of Rs 1,000 to Rs 5,000. The Government of India guarantees the benefit of minimum pension. The central government contributes 50 percent of the subscriber’s contribution or Rs 1,000 annually, whichever is less. Government contribution is given to those who do not come under any statutory social security scheme and are not taxpayers. Under the scheme, pension of Rs 1,000, 2000, 3,000, 4,000 and 5,000 is available. Investment also depends on the amount of pension. Joining at a young age gives more benefits.

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The post Govt Pension Scheme: You get a pension of Rs 60,000 by depositing just Rs 210. Check Details first appeared on Rightsofemployees.com.

Many pension schemes are currently running to encourage financial security of senior citizens. Guaranteed pension is being offered in some. Let us know about these schemes in detail-

National Pension System (NPS) is a retirement savings and investment program launched by the Central Government. Under this, you have to invest yourself and citizens get security as their age increases. The investment made in this is based on safe and regulated market based returns. It is supervised by PFRDA. Any Indian citizen between the age of 60 to 65 years can also register in NPS. Also, he can remain a member till the age of 70 years.

By investing in NPS you can manage your old age. The benefits of investing in it are as follows – – Source of income in old age – Market based returns in long term – Expansion of security coverage in old age.

Monthly pension is also available under the Indira Gandhi National Old Age Pension Scheme (IGNOAPS) launched for senior citizens. Senior citizens in the age group of 60-79 years falling in BPL category get a monthly stipend of Rs 300/-. When someone turns 80 years of age, the pension increases to Rs 500 per month. There is no need to make any investment for this pension scheme.

Atal Pension Yojana (APY) was started keeping in mind the future of the poor, the underprivileged and the workers working in the unorganized sector. There is a provision to get minimum monthly pension to the investor under APY. In this, the pension amount can range from Rs 1000 to Rs 5000 per month. Also, you can start investing in this between the age of 18 to 40 years. Under this, any citizen who is or has been a tax payer will not be eligible to participate in APY.

According to the Financial Services Department, ‘This scheme is operated through LIC. Under the scheme, customers get a guaranteed pension of 9% per annum on paying a lump sum amount. Any difference in the guaranteed returns generated by LIC on the fund is compensated by the Government of India through subsidy payments into the scheme. In the scheme, withdrawal of deposited amount is allowed after 15 years of purchasing the policy.

In the budget speech of 2014-15, the then Finance Minister proposed to restart the program for a short period from 15 August 2014 to 14 August 2015 for the benefit of citizens aged 60 years and above.

Highest FD Rates: Two banks give more interest on Fixed Deposit than PPF-Sukanya Samriddhi

The post National Pension System: Apart from NPS, there are many government pension schemes for old age, which one has how much benefit? first appeared on Rightsofemployees.com.

After retirement, apart from getting a lump sum amount under this, the benefit of pension is also available every month. Through the website of NPS, you can invest in it and here the returns and benefits can be easily understood. NPS calculator is also available here. If you want to invest, then you can understand the return on investment as per the requirement.

Under the National Pension System, more benefits can be availed by investing a very small amount. Here’s how you can get a monthly pension of Rs 57,000 by saving Rs 100 a day. Let’s understand the calculation

Pension on investment of 1500 per month at the age of 25

If you start investing Rs 1500 i.e. Rs 50 per day in NPS at the age of 25, then by the age of 60 the total corpus will be Rs 57,42,416. However, for this the annual interest should be 10 percent. You can invest even till the age of 75. At the time of exit from the scheme, investors have the option to buy an annuity plan with a corpus of up to 100 per cent.

If 100% annuity is purchased with this copper, the customer can avail a monthly pension of Rs 28,712. If only 40% of the annuity is purchased, then the monthly pension will be Rs 11,485 and you will get a lump sum amount of Rs 34 lakh, which you can withdraw.

How much pension will be received on Rs 100 per day

If you start investing Rs 3000 every month i.e. Rs 100 per day from the age of 25, then according to the NPS calculator, after 60 Rs 1,14,84,831 will be accumulated. If 100% annuity is purchased with this amount, then the total monthly pension will be Rs 57,412 and if only 40% annuity is purchased, then only Rs 22,970 will be given as monthly pension, but after retirement the lump sum amount will be Rs 68 lakh.

The post New Pension For Senior Citizen! By saving 100 rupees, you will get a pension of 57 thousand rupees every month first appeared on Rightsofemployees.com.

The schemes we are talking about are Senior Citizens Savings Scheme, Atal Pension Yojana and Monthly Income Scheme. The special thing about these schemes is that your deposited money will be safe in them, which can also be withdrawn after maturity. Investing in these schemes will give you financial power, so let’s know about them in detail….

Senior Citizens Savings Scheme

The investment limit in the Senior Citizens Savings Scheme has been increased from Rs 15 lakh to Rs 30 lakh. From January 1, the interest rate for this scheme has also been increased to 8 percent per annum. You can extend this account for another 3 years after maturity of 5 years.

Any person can open an account under this scheme either singly i.e. individually or jointly with his/her spouse with a minimum deposit of one thousand rupees or any amount in multiple of one thousand rupees. This account can be closed after the expiry of 5 years from the date of opening. At the same time, it can also be extended for a further period of 3 years.

Atal Pension Yojana

The investment made by you in the Atal Pension Scheme depends on your age. Under this scheme, monthly pension of at least Rs 1,000, Rs 2000, Rs 3000, Rs 4000 and maximum Rs 5,000 can be received. Husband and wife can get monthly pension of Rs 10,000 by opening separate accounts.

To take advantage of this pension scheme, your age should be between 18 to 40 years. Under this scheme, one has to invest for at least 20 years. After the age of 60 they will get pension

Monthly Income Scheme

Post Office Monthly Income Scheme can be a better option for regular income for you. In this scheme, investors have to deposit lump sum money and get a chance to earn every month. Due to the post office scheme, your money is also safe. This scheme is of 5 years, which can be further extended for 5-5 years. Under the scheme, an account can be opened for just Rs 1000. Any person who has completed 18 years of age can open an account. Post Office MIS has the facility to open both single and joint accounts.

The post Best pension plan for retirement, old age will be spent happily first appeared on Rightsofemployees.com.

But there are many such pension schemes from which individuals get benefits. Such as Old Age Pension Scheme, Widow Pension Scheme, and National Pension Scheme Scheme. But in all these pension schemes individuals have to wait for a very long time. Under all these pension schemes, the facility of pension is provided to the individuals at the age of 60 years.

But if we talk about the best pension scheme among all these pension schemes, then it can go to Saral Pension Yojana. You must be thinking that what is the name of the scheme, then we will provide you a brief description about it.

LIC Saral Pension Yojana

The name of this pension scheme brought by LIC is Saral Pension Yojana. Let us tell you that it comes in the list of a single premium pension plane. In this, a type of premium is required to be paid for taking the policy. As we have told above that in the coming pension schemes, pension facility is provided only after the age of 60 years. But there is no such circumstance under this pension scheme. Let us tell you that a great film has been launched by Life Insurance Corporation (LIC). Under this, by depositing the amount, you will be provided pension facility only from the age of 40 years.

Know more about Saral Pension Yojana

About this scheme of Life Insurance Corporation LIC, we have told you in the east that the name of this scheme is Saral Pension Yojana. It is also a single premium pension plan. Under which you need to pay premium only once at the time of taking the policy. Thereafter, you continue to get pension for the rest of your life. And on the death of the pensioner, the single premium amount is returned and given to his nominee.

Let us tell you that Saral Pension Yojana is an immediate annuity plan. Meaning you will start receiving pension only at the time of taking the policy. After taking this policy, the amount of pension you will start getting will be provided to you for the whole life.

How to take Saral Pension Yojana

Saral Pension Yojana 2022 Details: If you are interested in this pension scheme, then you can join this scheme mainly in two ways.

Single Life:- Under this, there is a policy in the name of any one. As long as the pensioner is alive, he continues to get pension under this scheme, but when he dies, the amount of his base premium is returned to his nominee.
Joint Life:- Under this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his life partner will continue to get pension for the rest of his life. If he dies, his best premium is handed over to his nominee.

Know who can take advantage of Saral Pension Yojana

To take advantage of this scheme, the minimum age limit has been fixed at 40 years and the maximum age limit has been fixed at 80 years. Because it is a whole life policy under which the pensioner gets whole life pension till he is alive. Saral Pension Policy can be surrendered anytime after 6 months from the date of commencement.

Till when can I get pension

From when to take the pension, this decision would have been taken by the pensioner only. In this, four options are provided to the equality pension holders. in which

Pension can be taken every month
Can be received after every 3 months
Pension can be taken after every 6 months
Pension facility is available even after 12 months

You have to get pension by selecting any one of these options.

How much pension will be provided up to Rs.

To get pension, you have to take care of a special thing that how much you get a policy under this scheme. That is to say, you have to pay according to the amount of pension you want to get. If you want to take ₹ 1000 pension, ₹ 3000 for 3 months, ₹ 6000 for 6 months, and ₹ 12000 for 12 months is the minimum pension. There is no maximum limit for this.

If the age of the person is 40 years and he has deposited a single premium of ₹ 1000000, then he will be provided ₹ 50250 annually. And let us tell you that he will continue to receive this pension for life. If for any reason the person gets the situation to withdraw the amount in the middle, then the balance amount is returned to him after deducting 5%.

The post Saral Pension Yojana: Deposit money once in this superhit scheme of LIC, get Rs 50,000 pension for life first appeared on Rightsofemployees.com.

But there are many such pension schemes from which individuals get benefits. Such as Old Age Pension Scheme, Widow Pension Scheme, and National Pension Scheme Scheme. But in all these pension schemes individuals have to wait for a very long time. Under all these pension schemes, the facility of pension is provided to the individuals at the age of 60 years.

But if we talk about the best pension scheme among all these pension schemes, then it can go to Saral Pension Yojana. You must be thinking that what is the name of the scheme, then we will provide you a brief description about it.

LIC Saral Pension Yojana

The name of this pension scheme brought by LIC is Saral Pension Yojana. Let us tell you that it comes in the list of a single premium pension plane. In this, a type of premium is required to be paid for taking the policy. As we have told above that in the coming pension schemes, pension facility is provided only after the age of 60 years. But there is no such circumstance under this pension scheme. Let us tell you that a great film has been launched by Life Insurance Corporation (LIC). Under this, by depositing the amount, you will be provided pension facility only from the age of 40 years.

Know more about Saral Pension Yojana

About this scheme of Life Insurance Corporation LIC, we have told you in the east that the name of this scheme is Saral Pension Yojana. It is also a single premium pension plan. Under which you need to pay premium only once at the time of taking the policy. Thereafter, you continue to get pension for the rest of your life. And on the death of the pensioner, the single premium amount is returned and given to his nominee.

Let us tell you that Saral Pension Yojana is an immediate annuity plan. Meaning you will start receiving pension only at the time of taking the policy. After taking this policy, the amount of pension you will start getting will be provided to you for the whole life.

How to take Saral Pension Yojana

Saral Pension Yojana 2022 Details: If you are interested in this pension scheme, then you can join this scheme mainly in two ways.

1. Single Life:- Under this, there is a policy in the name of any one. As long as the pensioner is alive, he continues to get pension under this scheme, but when he dies, the amount of his base premium is returned to his nominee.
2. Joint Life:- Under this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his life partner will continue to get pension for the rest of his life. If he dies, his best premium is handed over to his nominee.

Know who can take advantage of Saral Pension Yojana

To take advantage of this scheme, the minimum age limit has been fixed at 40 years and the maximum age limit has been fixed at 80 years. Because it is a whole life policy under which the pensioner gets whole life pension till he is alive. Saral Pension Policy can be surrendered anytime after 6 months from the date of commencement.

Till when can I get pension

From when to take the pension, this decision would have been taken by the pensioner only. In this, four options are provided to the equality pension holders. in which

1. Pension can be taken every month
2. Can be received after every 3 months
3. Pension can be taken after every 6 months
4. Pension facility is available even after 12 months

You have to get pension by selecting any one of these options.

How much pension will be provided up to Rs.

To get pension, you have to take care of a special thing that how much you get a policy under this scheme. That is to say, you have to pay according to the amount of pension you want to get. If you want to take ₹ 1000 pension, ₹ 3000 for 3 months, ₹ 6000 for 6 months, and ₹ 12000 for 12 months is the minimum pension. There is no maximum limit for this.

If the age of the person is 40 years and he has deposited a single premium of ₹ 1000000, then he will be provided ₹ 50250 annually. And let us tell you that he will continue to receive this pension for life. If for any reason the person gets the situation to withdraw the amount in the middle, then the balance amount is returned to him after deducting 5%.

The post Saral Pension Yojana: Deposit money once in this superhit scheme of LIC, get Rs 50,000 pension for life first appeared on Rightsofemployees.com.

But there are many such pension schemes from which individuals get benefits. Such as Old Age Pension Scheme, Widow Pension Scheme, and National Pension Scheme Scheme. But in all these pension schemes individuals have to wait for a very long time. Under all these pension schemes, the facility of pension is provided to the individuals at the age of 60 years.

But if we talk about the best pension scheme among all these pension schemes, then it can go to Saral Pension Yojana. You must be thinking that what is the name of the scheme, then we will provide you a brief description about it.

LIC Saral Pension Yojana

The name of this pension scheme brought by LIC is Saral Pension Yojana. Let us tell you that it comes in the list of a single premium pension plane. In this, a type of premium is required to be paid for taking the policy. As we have told above that in the coming pension schemes, pension facility is provided only after the age of 60 years. But there is no such circumstance under this pension scheme. Let us tell you that a great film has been launched by Life Insurance Corporation (LIC). Under this, by depositing the amount, you will be provided pension facility only from the age of 40 years.

Know more about Saral Pension Yojana

About this scheme of Life Insurance Corporation LIC, we have told you in the east that the name of this scheme is Saral Pension Yojana. It is also a single premium pension plan. Under which you need to pay premium only once at the time of taking the policy. Thereafter, you continue to get pension for the rest of your life. And on the death of the pensioner, the single premium amount is returned and given to his nominee.

Let us tell you that Saral Pension Yojana is an immediate annuity plan. Meaning you will start receiving pension only at the time of taking the policy. After taking this policy, the amount of pension you will start getting will be provided to you for the whole life.

How to take Saral Pension Yojana

Saral Pension Yojana 2022 Details: If you are interested in this pension scheme, then you can join this scheme mainly in two ways.

1. Single Life:- Under this, there is a policy in the name of any one. As long as the pensioner is alive, he continues to get pension under this scheme, but when he dies, the amount of his base premium is returned to his nominee.
2. Joint Life:- Under this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his life partner will continue to get pension for the rest of his life. If he dies, his best premium is handed over to his nominee.

Know who can take advantage of Saral Pension Yojana

To take advantage of this scheme, the minimum age limit has been fixed at 40 years and the maximum age limit has been fixed at 80 years. Because it is a whole life policy under which the pensioner gets whole life pension till he is alive. Saral Pension Policy can be surrendered anytime after 6 months from the date of commencement.

Till when can I get pension

From when to take the pension, this decision would have been taken by the pensioner only. In this, four options are provided to the equality pension holders. in which

1. Pension can be taken every month
2. Can be received after every 3 months
3. Pension can be taken after every 6 months
4. Pension facility is available even after 12 months

You have to get pension by selecting any one of these options.

How much pension will be provided up to Rs.

To get pension, you have to take care of a special thing that how much you get a policy under this scheme. That is to say, you have to pay according to the amount of pension you want to get. If you want to take ₹ 1000 pension, ₹ 3000 for 3 months, ₹ 6000 for 6 months, and ₹ 12000 for 12 months is the minimum pension. There is no maximum limit for this.

If the age of the person is 40 years and he has deposited a single premium of ₹ 1000000, then he will be provided ₹ 50250 annually. And let us tell you that he will continue to receive this pension for life. If for any reason the person gets the situation to withdraw the amount in the middle, then the balance amount is returned to him after deducting 5%.

The post Saral Pension Yojana: Deposit money once in this superhit scheme of LIC, get Rs 50,000 pension for life first appeared on Rightsofemployees.com.

But there are many such pension schemes from which individuals get benefits. Such as Old Age Pension Scheme, Widow Pension Scheme, and National Pension Scheme Scheme. But in all these pension schemes individuals have to wait for a very long time. Under all these pension schemes, the facility of pension is provided to the individuals at the age of 60 years.

But if we talk about the best pension scheme among all these pension schemes, then it can go to Saral Pension Yojana. You must be thinking that what is the name of the scheme, then we will provide you a brief description about it.

LIC Saral Pension Yojana

The name of this pension scheme brought by LIC is Saral Pension Yojana. Let us tell you that it comes in the list of a single premium pension plane. In this, a type of premium is required to be paid for taking the policy. As we have told above that in the coming pension schemes, pension facility is provided only after the age of 60 years. But there is no such circumstance under this pension scheme. Let us tell you that a great film has been launched by Life Insurance Corporation (LIC). Under this, by depositing the amount, you will be provided pension facility only from the age of 40 years.

Know more about Saral Pension Yojana

About this scheme of Life Insurance Corporation LIC, we have told you in the east that the name of this scheme is Saral Pension Yojana. It is also a single premium pension plan. Under which you need to pay premium only once at the time of taking the policy. Thereafter, you continue to get pension for the rest of your life. And on the death of the pensioner, the single premium amount is returned and given to his nominee.

Let us tell you that Saral Pension Yojana is an immediate annuity plan. Meaning you will start receiving pension only at the time of taking the policy. After taking this policy, the amount of pension you will start getting will be provided to you for the whole life.

How to take Saral Pension Yojana

Saral Pension Yojana 2022 Details: If you are interested in this pension scheme, then you can join this scheme mainly in two ways.

1. Single Life:- Under this, there is a policy in the name of any one. As long as the pensioner is alive, he continues to get pension under this scheme, but when he dies, the amount of his base premium is returned to his nominee.
2. Joint Life:- Under this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his life partner will continue to get pension for the rest of his life. If he dies, his best premium is handed over to his nominee.

Know who can take advantage of Saral Pension Yojana

To take advantage of this scheme, the minimum age limit has been fixed at 40 years and the maximum age limit has been fixed at 80 years. Because it is a whole life policy under which the pensioner gets whole life pension till he is alive. Saral Pension Policy can be surrendered anytime after 6 months from the date of commencement.

Till when can I get pension

From when to take the pension, this decision would have been taken by the pensioner only. In this, four options are provided to the equality pension holders. in which

1. Pension can be taken every month
2. Can be received after every 3 months
3. Pension can be taken after every 6 months
4. Pension facility is available even after 12 months

You have to get pension by selecting any one of these options.

How much pension will be provided up to Rs.

To get pension, you have to take care of a special thing that how much you get a policy under this scheme. That is to say, you have to pay according to the amount of pension you want to get. If you want to take ₹ 1000 pension, ₹ 3000 for 3 months, ₹ 6000 for 6 months, and ₹ 12000 for 12 months is the minimum pension. There is no maximum limit for this.

If the age of the person is 40 years and he has deposited a single premium of ₹ 1000000, then he will be provided ₹ 50250 annually. And let us tell you that he will continue to receive this pension for life. If for any reason the person gets the situation to withdraw the amount in the middle, then the balance amount is returned to him after deducting 5%.

The post Saral Pension Yojana: Deposit money once in this superhit scheme of LIC, get Rs 50,000 pension for life first appeared on Rightsofemployees.com.

But there are many such pension schemes from which individuals get benefits. Such as Old Age Pension Scheme, Widow Pension Scheme, and National Pension Scheme Scheme. But in all these pension schemes individuals have to wait for a very long time. Under all these pension schemes, the facility of pension is provided to the individuals at the age of 60 years.

But if we talk about the best pension scheme among all these pension schemes, then it can go to Saral Pension Yojana. You must be thinking that what is the name of the scheme, then we will provide you a brief description about it.

LIC Saral Pension Yojana

The name of this pension scheme brought by LIC is Saral Pension Yojana. Let us tell you that it comes in the list of a single premium pension plane. In this, a type of premium is required to be paid for taking the policy. As we have told above that in the coming pension schemes, pension facility is provided only after the age of 60 years. But there is no such circumstance under this pension scheme. Let us tell you that a great film has been launched by Life Insurance Corporation (LIC). Under this, by depositing the amount, you will be provided pension facility only from the age of 40 years.

Know more about Saral Pension Yojana

About this scheme of Life Insurance Corporation LIC, we have told you in the east that the name of this scheme is Saral Pension Yojana. It is also a single premium pension plan. Under which you need to pay premium only once at the time of taking the policy. Thereafter, you continue to get pension for the rest of your life. And on the death of the pensioner, the single premium amount is returned and given to his nominee.

Let us tell you that Saral Pension Yojana is an immediate annuity plan. Meaning you will start receiving pension only at the time of taking the policy. After taking this policy, the amount of pension you will start getting will be provided to you for the whole life. 

How to take Saral Pension Yojana

Saral Pension Yojana 2022 Details: If you are interested in this pension scheme, then you can join this scheme mainly in two ways. 

1. Single Life:- Under this, there is a policy in the name of any one. As long as the pensioner is alive, he continues to get pension under this scheme, but when he dies, the amount of his base premium is returned to his nominee. 
2. Joint Life:- Under this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his life partner will continue to get pension for the rest of his life. If he dies, his best premium is handed over to his nominee. 

Know who can take advantage of Saral Pension Yojana

To take advantage of this scheme, the minimum age limit has been fixed at 40 years and the maximum age limit has been fixed at 80 years. Because it is a whole life policy under which the pensioner gets whole life pension till he is alive. Saral Pension Policy can be surrendered anytime after 6 months from the date of commencement. 

Till when can I get pension

From when to take the pension, this decision would have been taken by the pensioner only. In this, four options are provided to the equality pension holders. in which

1. Pension can be taken every month
2. Can be received after every 3 months
3. Pension can be taken after every 6 months
4. Pension facility is available even after 12 months

You have to get pension by selecting any one of these options. 

How much pension will be provided up to Rs.

To get pension, you have to take care of a special thing that how much you get a policy under this scheme. That is to say, you have to pay according to the amount of pension you want to get. If you want to take ₹ 1000 pension, ₹ 3000 for 3 months, ₹ 6000 for 6 months, and ₹ 12000 for 12 months is the minimum pension. There is no maximum limit for this. 

If the age of the person is 40 years and he has deposited a single premium of ₹ 1000000, then he will be provided ₹ 50250 annually. And let us tell you that he will continue to receive this pension for life. If for any reason the person gets the situation to withdraw the amount in the middle, then the balance amount is returned to him after deducting 5%. 

The post Saral Pension Yojana: Deposit money once in this superhit scheme of LIC, get Rs 50,000 pension for life first appeared on Rightsofemployees.com.