• Choosing the appropriate pension plan is an essential step in one’s life. To guarantee a secure future for you and your family after you cease working, it is vital to opt for the right pension plan. Especially within Indian households, pension schemes have been prioritized for many years. Job selections were frequently influenced by whether a pension would be provided or not. Following this trend might not be a bad idea at all.

• There are numerous factors to consider when investing in a pension plan. It is beneficial to begin early, as the sooner you start, the greater the future returns will be thanks to the power of compounding. Furthermore, this will lessen the burden in your later years. Equities should hold a significant place in your pension planning, as long-term returns are usually superior to those of other asset classes.
• Additionally, it is recommended to invest in a varied range of assets, such as fixed deposits, bonds, and gold, just to name a few. Making smart choices among these can greatly assist you in achieving your post-retirement goals. It is rather common to believe that PPF or EPF will suffice for a smooth journey after retirement. However, this is quite far from reality.

Some critical factors to take into account while selecting the right pension plan are as follows:

• Does the plan allow you to save systematically for an extended period and provide flexibility in selecting your retirement or vesting age?
• Does the plan guarantee some minimum assurance of the principal that you invest?
• Does the plan enable you to invest in both equities and debt in a balanced way?
• As it is essential to plan for retirement for both you and your spouse, a suitable retirement plan should also present the option to purchase additional life cover.
• With an increase in income, you should ensure that your monthly contributions toward retirement also rise systematically each year. Ideal retirement solutions should present the option of systematically increasing your savings.
• In addition to these, it is also crucial to select a plan with an appropriate annuity option. There are several choices available.

• Be mindful of the types of investment costs, and choose the plan that best provides all the essential features. Axis Max Life Insurance offers some excellent retirement and pension solutions. It would be wise to look into those as well.

• If confusion arises for you, hiring a financial planner could be beneficial. However, conducting a little research before making a decision should suffice.
  Unit Linked Insurance Products (ULIPs) differ from traditional insurance products and are exposed to various risk factors. The premium paid for the Unit Linked Life Insurance Policies is subject to the investment risks linked to capital markets, and the NAVs of the units may fluctuate up or down depending on the fund’s performance and market factors, with the insured being accountable for their choices.
• Please be aware of the associated risks and the applicable charges by consulting your Insurance agent, the Intermediary, or the insurer’s policy document. The different funds available under this contract are merely the names of the funds and do not indicate their quality, future prospects, or returns in any manner. For additional information regarding risk factors, terms, and conditions, please carefully read the sales brochure prior to completing a sale.
• The historical performance of the funds does not guarantee their future performance. You might qualify for certain applicable tax benefits on your premiums and policy benefits. Please remember that all tax benefits are subject to the tax laws in effect at the time you make the premium payment or receive benefits. Tax benefits are susceptible to modifications in tax laws.