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The write-up speaks about various pension plans that are available for Non resident Indians (NRI) from best market players like Citi bank, LIC, Aviva and SBI.

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Best Pension Plans for Non Resident Indians in India

For Non-resident Indians planning to settle down in India, it becomes mandatory to plan their retirement in advance. In doing this, they have to bear in mind the future value of money, calculate their approximate expenditure and plan their lifestyle. Pension plans are a good option for them to start planning their retirement. In this article the features of few good pension plans are discussed.
SBI pension plans:-
SBI start smart:
  • This is a onetime premium payment plan.
  • It is a unit linked plan that offers specified returns on an annual basis.
  • This pension plan also has an option of choosing multiple low cost pension plans at once.
  • The policy provides the entire sum that is payable to the nominee of the policy on the death of the policy holder.
SBI Lifelong pension plus:
  • The plan provides an option where a Non Resident Indian can choose between a plan that provides only pension and a plan that provides an extra cover along with the plan.
  • The policy also promises certain amount as a percentage of the premium every year.
  • There is also an option to choose other insurance covers (covers against accident) along with this plan. 
Aviva Pension Schemes:-
Aviva Secure pension:
  • This plan provides certain sum of amount over the premiums for the first few years of the plan.
  • The minimum sum assured starts from Rs 1 lakh and there is no maximum limit on the sum assured. 
Citi bank retirement plans:-
3g Manu life:
  • The plan has few special features apart from regular features of pension plan.
  • It provides a coupon on annual basis after the 10th year of the policy.
  • The policy also offers an option for other insurance covers like critical care, disability etc.
  • Pru Save limited pay:
  • The plan has an option where an NRI can choose to hold the amount accrued for about 5 to 10 years after the premium payment term.
  • The NRI can also choose the annuity payback turn from a wide range of options in years.
  • There is also a loan facility for medical purposes and the loan is free from interest rate. 
Life Insurance Corporation:-
Jeevan Nidhi:
  • The plan is very popular for its annuity options.
  • NRIs can choose the payment of annuity from 5 different options of the plan.
  • This plan offers a guaranteed sum on the assured amount for the first few years of the premium payment term and later on certain sum as bonus obtained by the participation of premiums in the company’s profit.
  • New Jeevan Suraksha 1:
  • The plan with special features such as joint life, a percentage hike of 3% on the annuity, grace period etc can pull NRI.
  • There are other insurance covers available along with this plan but it is purely optional.
Jeevan Akshay VI:
  • This is a onetime payment, annuity purchase policy.
  • An NRI pays a lump sum amount at once and he can choose to get annuities for the rest of life anytime.
  • The annuities are payable on monthly, quarterly, half yearly or even on annual basis. 
Pension plans provided by various companies in India have become investment options to Non Resident Indians. With few of these policies being participating ones and with use of internet for simple procedures towards purchase of these policies, today we have more and more number of Non Resident Indians are choosing these policies. It is however advisable to compare the pension plans and choose the one that best fits individual needs. Since the features of these policies are prone to changes, consulting an investment advisor is recommended.

  • D A BHATT:
    Is it possible to gift Jeevan Akshay VI PLAN to NRI/OCI son of a father by using his own Indian currency and remitting periodical pension amount in to nre/nro account of his son? please send me a reply on my email id in an unambiguous words. Thanking you in mean time.
    14-Oct-2016 03:20 AM
  • Binu:
    I am an NRI .Can u advise me to choose the best policy which I can get 50,000 per month ?
    12-Nov-2015 03:13 PM
  • simson varghese:
    my age is 41 which is the best pension plan in monthly earn INR 25000 /- kindly advise to me
    thanks & regards
    06-Sep-2015 04:04 AM
  • Vakula:
    My sister is an NRI working in Canada and she wants to retire in India by another two years. Her age is 50 years. What scheme would get her 50,000 INR per month pension and how much should she invest in INR ? Please suggest. Thanks.
    16-Jun-2013 06:42 AM
    • Victor Agera : Dear Sir,
      My age is 54 year suppose after 60 years if my monthly income need twenty thousands rupee so how much I have to invest.
      20-Jun-2016 05:48 PM
  • Vidhya:
    Please advise a pension plan that gives me 50,000 per month. I am a NRI. I am 30 yrs now.
    16-May-2013 11:11 AM
    21-Apr-2013 06:14 PM
  • Mohammed Hamid Hussain:
    Need to know which is the best pension plan for NRI.
    26-Mar-2013 03:03 PM
  • P.c.Anilan:
    Sir;iam NRI pls let me know the pesion scheme for the 5 yrs and monthly return's 10000 Rs
    13-Mar-2013 01:04 PM
  • B. Chatterjee:
    Hi , My niece works in delhi as a low paid security guard and she is a widow aged 45. Is there any pension plan she could buy? & when she is 60 she could get monthly pension as long as lives.
    11-Mar-2013 06:32 AM
  • ajay:
    Hi I am an NRI, and my age is 37. Please advice a good pension plan which gives me a monthly return of 40,000 & above when i become 65. thanks
    28-Jan-2013 10:46 PM
  • christina mettakadapa:
    i am 47, i need a pension 40,000 from the age of 58, please advise me a monthly premium pension plan, i am in US
    21-Jan-2013 10:05 AM
  • mangalasseri ravindran:
    I am 65 year old NRI. Please advise me a single premium pension plan to get a monthly income of rs 40,000 from the age of 66
    19-Nov-2012 09:37 PM
  • Tarak Biswas:
    My age is 37 and currently an nri (USA) but I will come back in India by 2015. What could the retirement options for me?
    17-Sep-2012 08:18 PM