Earn ₹12,000 Every Month! See How This Govt Scheme Can Boost Your Finances

Planning for a secure and stress-free retirement? LIC’s Simple Pension Plan is designed exactly for that. With this scheme, you can enjoy a guaranteed monthly pension throughout your life without worrying about market risks. It is one of the most popular retirement plans offered by LIC, providing financial stability in your golden years.

What is LIC Simple Pension Plan ?

The LIC Simple Pension Plan is a one-time investment scheme. Once you invest, you start receiving a pension for life. This means a regular income every month, helping you manage daily expenses even after retirement. With this plan, retirees can receive a pension of around Rs 12,000 per month, depending on the investment.

How Does It Work?

If you are a salaried person in the government or private sector, you can invest your PF fund and gratuity into this scheme before retirement. LIC then ensures that you receive a steady monthly pension for life. This helps transform your retirement corpus into a reliable income source.

Key Features of LIC Simple Pension Plan

• Eligibility: Investors must be above 40 years of age.
• Investment Age Limit: You can invest in the plan up to 80 years.
• Annuity Options: The minimum annuity starts from Rs 1,000 per month.
• Payment Frequency: Quarterly (min Rs 3,000), Half-Yearly (min Rs 6,000), or Yearly (min Rs 12,000).
• Lifetime Pension: Once invested, you receive pension for life, making it a safe retirement plan.

How to Get a Monthly Pension of Rs 12,000?

Under this scheme, you can invest in an annuity of at least Rs 12,000 per year. There is no maximum limit, meaning you can invest as much as you like. Pensions can be received monthly, quarterly, half-yearly, or annually. For example, a 42-year-old investing Rs 30 lakh in the plan may get around Rs 12,388 per month, according to LIC’s online calculator.

Additional Benefits

• Loan Facility: After 6 months, you can avail a loan against your policy.
• Surrender Option: If needed, the policy can be surrendered, and you get the surrender value based on your investment.
• Safe & Guaranteed: Unlike other market-linked schemes, this plan is risk-free, offering assured returns for life.

How to Invest

Investing in LIC Simple Pension Plan is simple. Visit www.licindia.in, calculate your pension, and plan your retirement smartly. With LIC’s trusted backing, this plan can make your retirement financially secure, predictable, and comfortable.

Disclaimer: The information provided in this article is for educational and informational purposes only. We are not encouraging or advising any investment. Readers should consult a certified financial advisor or investment expert before making any financial decisions. Newspoint will not be responsible for any gains, losses, or consequences resulting from investments made based on this information.