Saral Pension Plan: In the name of pension plan, a lot of fraud is happening nowadays. To prevent this fraud, IRDAI has instructed insurance companies to implement Saral Pension Scheme.
Saral Pension Plan: From April 1, there can be a big change in your life. Insurance regulator IRDAI has issued instructions to the insurance companies to implement the Saral Pension Scheme from 1 April. The insurance companies are going to start the Saral Pension Scheme from April 1, 2021. The Insurance Regulatory and Development Authority (IRDAI) has issued instructions to life insurance companies for this. Under Saral Pension Plan, there will be only two Annuity option in the name of the insurer.
This is Saral Pension Yojana
According to the guidelines of IRDAI, the minimum annuity amount in Saral Pension Scheme will be Rs. 1 thousand per month, Rs. 3 thousand per quarter, Rs. 6 thousand per half year or Rs. 12 thousand annually. IRDAI has said that it is extremely important to launch a personal immediate annuity with common features and standard terms and conditions. Experts believe that this initiative of IRDAI will make it easier for consumers to choose the plan. According to IRDAI guidelines, the policy can be surrendered at any time after 6 months from the date of commencement of policy.
What is Annuity
Annuity is an insurance company that promises to give an annual amount in lieu of your deposited amount in a pension plan. After retirement, the investor gets this facility under the pension plan for regular income. This scheme can prove to be very important for non-government employees.
Benefits of saral pension Yojana
According to IRDAI, the more money you invest in a simple pension plan, the more money you will get. Apart from this, you will also get the benefit of annuity. The customer will continue to get the benefit of Annuity throughout his life and after his death the spouse will continue to receive annuity till his death. After this, on the death of the spouse, the legal heir will get 100% of the purchase price back.