Smart Pension Plan: This LIC scheme will provide a lifetime pension of ₹20,000; understand the complete calculation.

LIC Smart Pension Plan: This pension plan of LIC can prove beneficial for those looking for regular income after retirement. In this, life time pension is assured through lump sum investment.

The country’s largest insurance company, Life Insurance Corporation of India (LIC), offers plans for everyone, whether children, the elderly, or women. LIC plans are especially popular for ensuring a life without financial constraints after retirement. One such policy is the LIC Smart Pension Plan, which guarantees a lifetime pension.

Pension Starts With Investment

This LIC pension plan was launched in 2025 and offers both investment and pension benefits. This means it could be the best option for regular income after retirement. The LIC Smart Pension Scheme is an immediate annuity plan, in which policyholders immediately begin receiving a pension upon investing a single premium, and it continues to receive it throughout their lives.

Market ‘No Tension’, Zero Risk

This LIC policy, which guarantees a lifetime fixed pension, was launched with those who prioritize risk-free investments away from the fluctuations of the stock market and seek regular, guaranteed income. This plan is a non-linked and non-participating plan from LIC, meaning it has no stock market risk. The pension rate is fixed at the time of purchase and continues to be paid throughout life.

Special features of this plan of LIC

Husband and wife can take the plan together, either single or joint.

Option of monthly, quarterly, half yearly or annual pension.

Option to increase pension at the rate of 3% or 6% every year.

Those who retire from NPS get special benefits.

Option to get the investment amount back after death.

This investment limit is set.

The minimum annuity purchase limit under the Smart Pension Plan is set at ₹1 lakh. There is no maximum investment limit, meaning the higher the investment, the higher the pension. This scheme is especially useful for retired employees, private employees, and senior citizens who want a regular monthly income.

How to get a ₹20,000 pension

Calculating the monthly pension under LIC’s Smart Pension Plan, if an investor wants to receive a monthly pension of ₹20,000, they will need to invest a lump sum of ₹3.5 million. This guarantees an annual pension of ₹2.87 lakh and a monthly pension of ₹23,940.

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