There comes a time in every person's life when his source of regular income stops. This time is called retirement. In such a situation, every person should plan for his retirement in advance. For retirement planning, you can invest in many schemes, so that you keep getting a pension every month after your retirement. One of these retirement schemes is also LIC Saral Pension Yojana. LIC Saral Pension Yojana is being run by Life Insurance Corporation. By investing in this scheme, you can get a pension of up to Rs 12,000.

LIC Saral Pension Yojana

LIC's Saral Pension Yojana is a non-linked, single premium, individual immediate annuity plan, in which you can get a pension for life by investing in a lump sum. The minimum age for investment in this scheme is 40 years and the maximum age is 80 years i.e. any person between 40 to 80 years can invest in this scheme. There is no maximum limit for investing in the scheme.

You can take a pension from LIC Saral Pension Yojana monthly, quarterly, half-yearly, or yearly. A monthly pension is a minimum of Rs 1,000, a quarterly pension is a minimum of Rs 3,000, a half-yearly pension is a minimum of Rs 6,000 and an annual pension is a minimum of Rs 12,000.

Invest like this to get a pension of Rs 12,000

If you want to get a pension of Rs 12,000 for your entire life after your retirement, then you will have to buy an annuity of Rs 30 lakh at the age of 42. After this, you will get a pension of Rs 12,388 per month. To get more money in a pension, you will have to invest more.