Pension plans in India – lumpsome amt?



Hi .
I want to put in a Rs 10 lakh in any pension plan for my grandmom so that she gets monthly income right from the next month I put in the money. Are there any such pension plans available ? I know there are pension plans for systematically investing every year (for a certain period) and at the age of retirement get the monthly income. But are there plans which start right after I pay a lumpsome amount and I get a monthly income ?

Please let me know if there are any other traditional ways of doing this (Post office, Banks deposits etc) . Thanks a TON.

2 Replies to “Pension plans in India – lumpsome amt?”

  1. hi

    there is a good PENSION PLAN in LIC

    that is JEEVAN AKSHAY 6 there is guarantee in this plan

    pension starts from next month of the comencement of the plan immediatly.

    if you r interested pls call at 9444153927 WELL-WISHER CONSULTANTS

    or contact any LIC agent in your area


  2. You can achieve your objective in many ways.

    1) Using pension plans: The plans that will suit your need are called immediately annuity plan. you can get a list (not exhaustive ) here : http://www.apnainsurance.com/pension-plans-india/immediate-compare.html

    2) you can also achieve your objective by investing your money in fixed deposits which pay out regular interests, i.e. non-cumulative fixed deposit. these interest payouts may be at different intervals: semiannual, monthley etc.

    3) probably the best fixed income scheme will be the post-office Monthly income scheme. (http://www.indiapost.gov.in/Netscape/6yearsMIS.html) and Senior citizen saving scheme (http://www.indiapost.gov.in/Netscape/seniorcitizen.html)

    HTH 🙂





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