Many people start making investments early on to create an avenue for benefits during their retirement. One such scheme that would allow them to secure their plans once they retire from their jobs is the Saral Pension Plan. The Saral Pension Plan is a standard individual immediate annuity product that could be beneficial for those making personal finance decisions this year.
Zee News recently reported that the Insurance Regulatory and Development Authority of India (IRDAI) has directed the insurance companies in India to start the Saral Pension Plan from April 1. It means that the Saral Pension Plan may start from the beginning of the next financial year.
As per the information available, the Saral Pension Plan has two annuity options to be availed by the insurer — single-life annuity and joint-life annuity. According to the guidelines of the IRDAI, the Saral Pension Yojana allows for a minimum annuity amount contribution of Rs 1000 per month, Rs 3000 every three…
