I am delighted by the efforts and customer centricity shown my Team Aviva. I visited India recently to seek guidance on my policy related matters and have no words to express the kind of time and energy they have spent on a single customer like me. Thank you Aviva, I wish you the best!Mr. Parvinder Singh
Keep your freedom and dignity intact in the second innings of life!
When you are young and at an early stage of your career, you are always full of zeal and energy to chase dreams, fulfill goals and face the challenges life throws at you. Though money can’t buy happiness, it helps us improve and maintain a lifestyle throughout. At this stage, you seldom choose not to think about what the future of these aspirations would look like- when you are at the end of your career.
Retirement planning helps you with financial freedom and taking responsibility for dependents even after stepping down from your professional role. Retirement Plans work as savings for your second inning as well as an investment into a healthy and happy future. Moreover, the right retirement investment plan plays the role of a financial stress-buster in your golden age. You not only remain financially self-sufficient to look after your health or fulfil your dreams like travelling, etc. but can also take out enough funds to support your family financially!
Retirement plans in India today have become as flexible as our lifestyles. From travelling the world, setting up your business to providing for your dependants, you can invest in retirement plans as per your life goals. This has made early retirement easy for many professionals. Now they don’t have to worry about financial responsibilities and can plan a happy retirement. Aviva pension plans give you the flexibility of choosing the pension installment and tenure, providing regular income during your golden years while ensuring security to you and your loved ones along the way.
Let's see what the pension plans are and how they work to make you financially independent after retirement...Read More
Our Retirement Plans
More than financial freedom – it’s a key to maintain a good lifestyle after your regular earnings come to a halt
A plan that offers gauranteed income and financial security
Aviva Saral Pension Plan
- One time payment to enjoy guaranteed* regular income for life
- Joint Life option which secures future income of spouse
- Tax Benefits based on prevailing tax laws, subject to change
Why Aviva Retirement Insurance Plans
We believe you should never compromise in living life king size, even after you retire
Your claim comes first
Over the last year we settled 94.45% of all claims made
We are the Most Trusted
Awarded Best Brand 2019 & Most Trusted Brand 2018 & 2019
(TRA brand Trust Report, 2019 & Economic Times)
We are a joint venture of Dabur Invest Corp and Aviva International Holding Limited
Straight From Our Customers
I would like to thank Aviva for their continued support and guidance in my policy related matters. I see my fund value increasing with every passing year and have been very happy with my experience.Mr. Vishal Sudha
Aviva has always been accommodative and responsive towards providing services to me since the past 12 years. They are very positive and professional in providing assistance and advice to me whenever I have sought any help.Mr. Preet Mohindera Singh, Aviva Pension Plus
As a vintage client since 2005, my best wishes are with Aviva for their amazing relationship management! I trust them to take care of my Investment and Risk & truly believe that I have secured my family well with this plan!Mr. Vikas Sharma, Retirement Plan
The Why, What & How of Retirement Insurance Plans
All your doubts and questions answered by the experts
Retirement planning requires meticulous planning and the right retirement investing tools
Retirement plans can address future financial expenses with the help of accumulated funds
Frequently Asked Questions
- During the early stage of your career, you may want to set aside some funds/assets to meet specific goals such as travelling, pursuing your hobbies, buying a car or house of your own, etc.
- At the Mid- career stage, you start with setting money aside to plan for your life after retirement, such as for living arrangements, health funds, family responsibilities and more.
- Then comes the retirement age, wherein you reap the benefits of years of successful savings and investments. You no longer pay in; instead, your years of savings start to give you benefits.
Although essential, retirement planning could be quite challenging in the early stage of your career. You are young and extremely busy starting off and excelling in your career, starting a family, or settling in a new location. You don’t have the time or feel the need to think about planning for your retirement just yet.
However, time flies so fast, and you will have to think of it then. So, why not start now?
Here’s how Retirement Plans in India help in keeping the financial freedom intact:
- Retirement funds can help you face any unexpected circumstance, be it health issues or wealth worries, in the future.
- Even after retirement, you can financially support your dependents towards their financial needs.
- You can even fulfill your dreams or life goals such as travelling the world, etc.
- With all of this, most importantly, you can still enjoy your financial freedom after you retire.
Not just this, a Retirement Plans helps you safeguard your dependents’ financial future; where in case of the unfortunate demise of the life insured, the nominee can avail the financial benefits of the plan.
Inflation is a big factor you need to consider when you start thinking about planning your retirement. You need to take into account how much will you need in order to maintain the similar lifestyle after retirement.
For example, you currently require Rs. 1 lakh a month to maintain a good lifestyle. 20 years from now, you will have to spend Rs. 3.27 lakh a month to enjoy the same lifestyle, considering constant inflation of 6% during the period.
You may want to use a retirement calculator to know how much money would you need in future for your retirement in India.
While choosing a Retirement Pension Plan, think carefully about the following aspects:
- Investment options available for you
- Current annual earnings and estimated retirement income
- Rates of return-on-investments and compound interest
- Risk and return of various schemes and assets
- At what age and how long from now you wish to retire
Planning for retirement is a long-term goal, and investing early will give you more time to save and invest better, in a manner that will provide you higher pay outs as retirement corpus. Your risk appetite is higher in the early stage of life, and you have more time to make up for any losses incurred over the period.
However, as you move closer to your retirement age, your risk appetite gradually scales down.
Every individual sees and lives life differently. Keeping this in mind, we have designed plans to fulfill your life goals and support your aspirations even after retirement.
Aviva Retirement Pension Plans provide the following benefits:
- Get a guaranteed savings corpus
- Opt for lump sum investment
- Avail tax benefits on premiums paid under section 80C of the Income Tax Act
Moreover, you can choose the time period for which you wish to avail the benefits of the plan. Some of our plans are also designed in a way where, in case of annuitant’s demise, the nominee will avail the benefits till the annuity period is over.
Aviva gives you 7 Annuity options and and helps you plan for your retirement:
1. Life Annuity: An equal annuity is paid in arrears as long as the annuitant survives
2. Annuity Guaranteed for 5 years and life thereafter
3. Annuity Guaranteed for 10 years and life thereafter
4. Annuity Guaranteed for 15 years and life thereafter
5. Annuity for life increasing at 3% per annum simple interest: Life annuity increasing at 3% p.a. is paid in arrears as long as the annuitant survives.
6. Life Annuity with Return of Purchase Price: A level annuity is paid in arrears as long as the annuitant survives and the Purchase Price of the annuity is paid to the nominee in case the annuitant passes away.
7. Joint Life Last Survivor Annuity: An equal annuity or pension is paid in arrears as long as both or either of the two annuitants survives.
Many investors and policy buyers often mistake a retirement investment plan as a means of savings until they are 65. Actually, if you start early and are in for long-term planning, these plans offer whopping benefits.
A Retirement Pension Plan works in two stages:
1) Accumulation stage: The stage when you start and continue to invest in policies, to build a retirement corpus.
- At the start, you choose a pension plan, and the estimated amount you wish to receive upon maturity. This will help you align your policy term to your desired age of retirement.
- Choice of the investment period (Premium Paying Term) – Depending on your lifestyle choices as well as investment and risk appetite, you need to decide the period for which you want to pay the premium for the plan. In case of a lump sum investment, you will be paying the whole amount at once.
2) Vesting age: The age at which your pension plan will start paying out. Your decision to quit your job at an early age will depend a lot on your financial status.
- Once your retirement pension policy matures, you can avail the built corpus based on the annuity options chosen by you.