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RETIREMENT PLANNING GUIDE

We all have our aspirations and dreams for golden years of our life. We want to have freedom to do whatever we may want and hope to fulfill all the desires that were not fulfilled during the course of working life. It will only be possible if we have planned it well and enough funds are available to help us live our dreams. Thus, plan today for a beautiful post-retirement life.

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Our vision is to provide innovative and customer-centric insurance plans that can help our customers secure their family's future as well as help them with other benefits such as tax savings. Keeping this in mind we offer a large range of life insurance plans such as term insurance plan, women's plan, health insurance plans, pension plans for retirement planning, child education plans, ULIPs, Savings plans. Most of these life insurance policies are available online, so buy one today and Sar Utha Ke Jiyo!.

As per regulatory changes, it is mandatory to submit PAN/Form 60 (if PAN is not available) for your policy with immediate effect. Please update via My Account/[email protected]/18602679999/HDFC Life branch. Ignore if already submitted.

HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.

Registered Office:

HDFC Life Insurance Company Limited,

Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Tel No: (022)67516666.

The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited and is used by HDFC Life under a licence/agreement
For more details on risk factors, associated terms and conditions and exclusions, please read the sales brochure carefully before concluding a sale. ARN: EC/06/2017/9792

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Assam</td>\n\t\t\t<td>5. Nagaland</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>2. Maharastra</td>\n\t\t\t<td>6. Sikkim</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>3. Manipur</td>\n\t\t\t<td>7. Tripura</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>4. Meghalaya</td>\n\t\t\t<td>8. West Bengal</td>\n\t\t</tr>\n\t</tbody>\n</table>\n\n<div class="branch-btn-wrap"><a class="btn btn-default btn-red" download="Revised_Timing_List.pdf" href="/documents/apps/Revised_Timing_List.pdf" rel="noopener noreferrer" target="_blank">Download Revised Timing Branch List</a></div>\n<span class="disclaimer">Note: These are temporary changes and will be updated frequently.</span></div>\n</section>\n'}, 'help-col-two-red-heading': 'Relationship Manager', 'missed-call-value-3': 'Premium Amount and Due Date', 'missed-call-value-1': '08000006609 to get details on your Fund Value', 'branch-office-timing-three': 'Monday to Friday - 9:30 AM to 3:30 PM <br>Saturday - 9:30 AM to 1:00 PM <div class="branch-bold-txt-wrap">Akola Timing :</div><div class="branch-txt-wrap">Monday to Friday - 9:30 AM to 3:30 PM <br>Saturday - 9:30 AM to 1:00 PM</div><div class="branch-bold-txt-wrap">Yavatmal Timing :</div><div class="branch-txt-wrap"> Monday to Friday - 9:30 AM to 3:30 PM <br> Saturday - 9:30 AM to 1:00 PM </div><div class="branch-bold-txt-wrap">Pune Timing :</div><div class="branch-txt-wrap"> Monday to Friday - 9:30 AM to 2:00 PM <br> Saturday - 9:30 AM to 1:00 PM </div>', 'help-col-one-red-heading': 'BUY ONLINE', 'whatsapp-etty-button-text': 'chat now', 'help-col-one-sms-text': 'SMS', 'help-col-two-call-timing': 'Mon-Sat 9:30 A.M to 6:30 P.M IST', 'small-box-email-condition': '(For NRI customer only)', 'branch-timing-button-text': 'CHECK BRANCH TIMING', 'whatsapp-etty-text': 'Chat on WhatsApp Etty', 'help-col-three-call-email-id': '[email protected]', 'branch-office-two': 'Mumbai Timing :', 'small-box-sms-text': '', 'help-col-one-callback-button-text': 'CLICK HERE', 'help-col-two-bottom-button-link': '/contact-us/branch-locator', 'missed-call-value-2': '(Applicable for Unit Linked Plans only),', 'nri-service-lhs-one': 'Email', 'help-col-two-bottom-blue-heading': 'Locate A', 'branch-office-three': 'Amravati Timing :', 'helpbox-heading': 'HOW CAN WE HELP YOU', 'locate-branch': {'image_id': 'DeS0ce7oA3xEU7B', 'image_url': 'https://brandsite-static.hdfclife.com/media/image/find-branch.png', 'alt': '', 'description': '', 'text': 'locate branch', 'link': ''}, 'help-col-one-let-us-call-text': 'Instant Callback', 'call-us-content-one': '1860-267-9999', 'help-col-three-call-us-text': 'Call Us', 'help-col-one-call-timing': 'All days 9:00 AM to 9:00 PM IST', 'call-us-content-two-text': '(STD charges applicable)', 'small-box-email-text': 'Email', 'help-col-three-call-timing': 'Available Mon-Sat 10 am to 7 pm IST. DO NOT prefix any country code e.g. +91 or 00.', 'help-col-one-call-us-text': 'Speak to our Certified Insurance Experts', 'nri-service-phone': '+91-8916694100', 'nri-service-lhs-two': 'Call us', 'branch-office-one': 'India except Mumbai, Amravati, Akola, Yavatmal and Pune Timing :'}, 'id': 'duknoZznwrNG1Gy', 'type': 'data-wysiwyg_editor', 'slug': 'brandsite-how-can-help', 'template_url': 'brandsite-home-theme-one/widgets/how_can_help.tpl.html', 'fields': {'textfield': ['helpbox-heading', 'help-col-one-blue-heading', 'help-col-one-red-heading', 'help-col-one-call-us-text', 'help-col-one-call-timing', 'help-col-one-call-us-no', 'help-col-one-email-text', 'help-col-one-email-id', 'help-col-one-sms-text', 'help-col-one-sms-value', 'help-col-one-let-us-call-text', 'help-col-one-callback-button-text', 'help-col-one-callback-button-link', 'help-col-two-blue-heading', 'help-col-two-red-heading', 'help-col-two-call-us-text', 'help-col-two-call-timing', 'help-col-two-call-us-no', 'help-col-two-bottom-blue-heading', 'help-col-two-bottom-red-heading', 'help-col-two-bottom-button-text', 'help-col-two-bottom-button-link', 'help-col-three-blue-heading', 'help-col-three-red-heading', 'help-col-three-call-us-text', 'help-col-three-call-timing', 'help-col-three-call-us-no', 'help-col-three-call-email-text', 'help-col-three-call-email-id', 'small-box-label', 'small-box-email-text', 'small-box-email-condition', 'small-box-sms-text', 'small-box-sms-value', 'small-box-email-id', 'missed-call-label', 'missed-call-value-1', 'missed-call-value-2', 'missed-call-value-3', 'whatsapp-etty-text', 'whatsapp-etty-text-line-two', 'whatsapp-etty-button-text', 'whatsapp-etty-button-link', 'small-box-missed-call-text', 'missed-call-no', 'branch-description-text', 'branch-timing-button-text', 'branch-office-timing-one', 'branch-office-one', 'branch-office-two', 'branch-office-three', 'branch-office-timing-two', 'branch-office-timing-three', 'branch-popup-header', 'nri-service-text-two', 'nri-service-text-two', 'nri-service-phone', 'nri-service-lhs-one', 'nri-service-lhs-two', 'call-us-content-one', 'call-us-content-two', 'call-us-content-one-text', 'call-us-content-two-text', 'call-us-content-one-text-upper', 'call-us-content-two-text-upper'], 'image-field': ['locate-branch'], 'wysiwyg-editor': ['branch-timing-section']}}, 'f0pjKEDIZlbi1xU': {'label': 'brandsite subscribe - new - Z', 'data': {'icon_url': None, 'label': 'brandsite subscribe - new - Z', 'subscribe-footer': 'I hereby consent to receive policy related communication from HDFC Life or its authorized representatives via Call, SMS, Email & Voice over Internet Protocol (VoIP) including WhatsApp. and agree to waive my registration on NCPR (National Customer Preference Registry) in this regard.', 'subscribe-button-text': 'Subscribe', 'subscribe-main-header': 'Stay updated with HDFC Life', 'alt': None, 'subscribe-button-link': None, 'subscribe-sub-header': 'Get HDFC Life updates in your mailbox'}, 'id': 'PYDCtqseDobMruK', 'type': 'data-only_text', 'slug': 'brandsite-subscribe', 'template_url': 'brandsite-home-theme-one/widgets/stay_updated.tpl.html', 'fields': {'textfield': ['subscribe-main-header', 'subscribe-sub-header', 'subscribe-button-text', 'subscribe-button-link', 'subscribe-footer']}}, 'a4fKxFD69pjtjEA': {'label': 'Kc Landing Featured Articles Retirement', 'data': {'heading': 'Featured Articles', 'label': 'Kc Landing Featured Articles Retirement', 'alt': None, 'mobile-question-text': None, 'content': [{'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Tax Planning', 'link': '/insurance-knowledge-centre/tax-saving-insurance-old'}, {'text': 'Tax Saving', 'link': '/topics/tags/tax-saving'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'An employee can track the EPF status while sitting in the comfort of her/his home and that too in a matter of minutes. To Know more about how to check EPF status online, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'check EPF status and balance online - HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'how to check epf status, epf status check, epf balance online, epf claim status'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'plan disclaimer', 'slug': 'plan-disclaimer', 'value': 'In Unit Linked policies, the investment risk in the investment portfolio is borne by the policyholder.'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/financial-tools-calculators/retirement-planning-calculator?source=NW_KC_PlanRW_24&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'How to check EPF status and balance online'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/sadnl.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/sadnl_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/sadnl_tile.jpg', 'id': '4UWQ8wmRK9Ea5Ul', 'url': 'https://brandsite-static.hdfclife.com/media/image/sadnl.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>EPF or Employees Provident Fund is one of the three types of provident fund options available in India (the others being GPF or General Provident Fund and PPF or Public Provident Fund). EPF is a government-backed instrument for fund accumulation in which due and equal contributions are mandated to be made by both the employee as well as the employer. These contributions then accumulate towards creating the saving corpus that is referred to as EPF. For the sake of increased financial inclusion and transparency, it is essential that an employee knows how to keep a track of her/his EPF accumulation and status. In the earlier days, when there was no online coverage and when the matters of financial importance were executed in a manual manner in the offline mode, there were a lot of hassles that were faced by the average consumers. Offline mode made the procedure of checking and tracking very complicated and hazardous. For the simple process of checking her/his <strong>EPF balance</strong> or for enquiring about the status of the same, an employee had to wait for hours in a queue. Added to that was extensive paperwork and documentation that further complicated the matters.</p>\n\n<p>However, with the advent of digital platform and the increasing role of digital technology in matters of financial relevance, all this has changed for the better. Today, an employee can track the EPF status while sitting in the comfort of her/his home and that too in a matter of minutes. Increased transparency and accountability have further simplified the entire process and accuracy has increased manifold. The EPFO in India offers the facility of checking the EPF claim status on the relevant official portal.                                                                 </p>\n\n<p>For online checking of the <strong>EPF claim status</strong>, following are the steps that you need to follow:</p>\n\n<ol>\n\t<li>For online tracking, you must log on to the official website of the EPFO.</li>\n\t<li>You must keep in mind or documented your EPF account number, the regional office of the concern and the code of the concern or the extension code etc.</li>\n\t<li>Once you log-on to the official portal, you simply need to click on the tab that reads – “click to know your claim status”.</li>\n\t<li>After making the due selection of your state, click on the link for the regional office as well.</li>\n\t<li>Once the regional office is selected, the office code gets updated by itself.</li>\n\t<li>Enter the establishment or the company code in the relevant field. In case of any extensions, enter the same.</li>\n\t<li>Enter your account details in the relevant field.</li>\n\t<li>Once you enter all the details, click on the tab that reads “submit” – this will fetch all the details.</li>\n</ol>\n\n<p>HDFC Life offers various <strong>retirement plans</strong> for ensuring that you reap the benefits of a secure retired life at all times and that sufficient corpus is created that can ensure that you and your dependent spouse have complete financial coverage. For details, click on the mentioned link: <a href="https://www.hdfclife.com/retirement-and-pension-plans">https://www.hdfclife.com/retirement-and-pension-plans</a>.</p>\n\n<p style="text-align:center"><a href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/click-2-retire-plan/Calculator?source=NW_KC_EPFstatusandbalanceonline_CalcP_C2R&agentcode=00399206"><img alt="" src="https://beta-api.hdfclife.tech/2.0/redirect/media/image/Pension Plan Calculate Premium.jpg" /></a></p>\n\n<p> </p>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/sadnl_tile.jpg', 'slug': 'check-epf-status-and-balance-online', 'tags': ['Retirement', 'Insurance Basics', 'Tax', 'Tax Planning', 'Tax Saving', 'Investment'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/sadnl_thumb.jpg', 'title': 'How to check EPF status and balance online', 'image': {'banner': '4UWQ8wmRK9Ea5Ul'}, 'url': '/insurance-knowledge-centre/retirement-planning/check-epf-status-and-balance-online', 'excerpt': 'HDFC Life offers various retirement plans for ensuring that you reap the benefits of a secure retired life at all times and that sufficient corpus is created that can ensure that you and your dependent spouse have complete financial coverage.', 'blog_author': None, 'id': 1133, 'view_count': 2699, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2019-04-08T11:25:00Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Tax Planning', 'link': '/insurance-knowledge-centre/tax-saving-insurance-old'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Tax Saving', 'link': '/topics/tags/tax-saving'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'Annuity is one of the basic requirements of our financial life and of a regular monthly income, To know more about what kind of annuity product is best for you, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'Annuities – Know How To Find The Right One For You - HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'retirement benefit plan, pension benefit plan, retirement planning'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Child:pension plans\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife:Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center:Child\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Child:pension plans\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'plan disclaimer', 'slug': 'plan-disclaimer', 'value': 'In Unit Linked policies, the investment risk in the investment portfolio is borne by the policyholder.'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/retirement-and-pension-plans/pension-guaranteed-plan?source=NW_KC_PlanRW_9&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'Reducing Income Taxes after Retirement'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/retirem_ent.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/retirem_ent_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/retirem_ent_tile.jpg', 'id': 'iiGme6BAudwz8qO', 'url': 'https://brandsite-static.hdfclife.com/media/image/retirem_ent.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/meaning-and-definition-of-annuity" target="_blank">Annuity</a> is one of the basic requirements of our financial life and denotes the fact that in the absence of a regular monthly income, there is a pertinent demand of having enough to run the monthly budgetary cycle. Needless to say that  retirement is one of the important phases of a person’s life when the person, after decades of dedicated service, finally calls it a day and so, these golden years become  a time of relaxed rejoicing when, after years of toiling and handling responsibilities, a person can finally share the precious moments with her/ his family and thus, can have a feeling of full-fledged family life.</p>\n\n<p>Retirement is not something that has to be faced or even defined in terms of professionals who earn a regular monthly salary. In fact, every person, be it in any sector has a guaranteed  requirement of annuity and related products. Annuity instruments allow the person to be completely independent when it comes to financial terms without having to depend upon the monetary aid from her/his children. Therefore, having the right kind of <a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/meaning-and-definition-of-annuity">annuity</a> in place is extremely essential because it allows one to retain the savings corpus for important life events and at the same time, it allows your funds to be channelized. Following are the important steps that can actually determine what kind of an annuity product can work best for you:</p>\n\n<ol>\n\t<li>Invest in health-insurance and specific plans simultaneously: You may not be in the prime of your health in your sunset years and therefore, start early when it comes to building up the financial safeguard in times of emergency. This ensures that your <a href="https://www.hdfclife.com/savings-investment-plans"><strong>savings and the returns from the investments</strong></a> made by you do not suffer due to medical contingencies.</li>\n\t<li>Start early: The cost of living in India is on an upward spiral and this makes us feel the pinch with each passing day. Therefore, it is important to start investing in your future as soon as you start earning. Younger the person is at the time of commencement of relegating funds towards an investment, higher is the term build up and the resulting payout at the time of investment-maturity.</li>\n\t<li>Allocate a fixed percentage of your income towards retirement corpus: Investing a fixed percentage of the income towards the main retirement corpus always helps. One must also be careful not to use any part of the corpus (i.e. the main amount) before retirement.</li>\n\t<li>Consider the inflation factor while taking a <strong>retirement plan</strong>:  Seeking to invest and build up on that investment is important. However, the fact that inflation affects the financial planning heavily must never be ignored or belittled. Inflation can make your returns take a plunge and therefore, while choosing any plan, you must make sure that you have taken the futuristic price-rise projections into your consideration.</li>\n</ol>\n\n<p style="margin-left:36.0pt;">HDFC Life offers a range of exclusive and comprehensive <strong><a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/pension-plans-guide-india">retirement and pension-benefit plans</a></strong> that are directed towards ensuring your financial independence even after you retire. For more details, check the mentioned link:</p>\n\n<p><a href="https://www.hdfclife.com/retirement-and-pension-plans">https://www.hdfclife.com/retirement-and-pension-plans</a>.</p>\n\n<p style="text-align:center"><a href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/click-2-retire-plan/Calculator?source=NW_KC_retirementandpensionbenefitplans_CalcP_C2R&agentcode=00399206"><img alt="" src="https://beta-api.hdfclife.tech/2.0/redirect/media/image/re.jpg" /></a></p>\n\n<p> </p>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/retirem_ent_tile.jpg', 'slug': 'retirement-and-pension-benefit-plans', 'tags': ['Retirement', 'Tax Planning', 'Insurance Basics', 'Tax', 'Tax Saving', 'Investment'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/retirem_ent_thumb.jpg', 'title': 'Annuities – Know How To Find The Right One For You', 'image': {'banner': 'iiGme6BAudwz8qO'}, 'url': '/insurance-knowledge-centre/retirement-planning/retirement-and-pension-benefit-plans', 'excerpt': 'HDFC Life offers a range of exclusive and comprehensive retirement and pension-benefit plans that are directed towards ensuring your financial independence even after you retire.', 'blog_author': None, 'id': 1085, 'view_count': 2327, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2019-03-18T12:08:00Z'}, {'tag_list': [{'text': 'Retirement Planning'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'insurance'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'Under NPS, a taxpayer can invest money in pension account, will have the option to take part of the corpus as lump-sum, To know more about NPS withdrawal limit, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'National Pension Scheme (NPS) Investment - Features & Benefits | HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'NPS withdrawal limit, National Pension System, Income after retirement, Tax Benefits'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Income tax '}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/nps-withdrawal-limit-100percent-tax-free?source=NW_KC_NPSWL100TF_PIT72&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'Govt makes NPS withdrawal limit 100 per cent tax free'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/Image-Resize_KC---6-Articles_5_874-X-364.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Image-Resize_KC---6-Articles_5_874-X-364_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Image-Resize_KC---6-Articles_5_874-X-364_tile.jpg', 'id': 'gXyMslDdxsni370', 'url': 'https://brandsite-static.hdfclife.com/media/image/Image-Resize_KC---6-Articles_5_874-X-364.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>Every organization offers its employees a pension scheme. The <a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/national-pension-scheme">National Pension System</a> was launched on January 1, 2004 with the aim of providing people with an <a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/reducing-income-taxes-after-retirement">income after retirement</a>. The scheme that was earlier meant only for the government employees was opened to all private employees in 2009.</p>\n\n<p>Under NPS, a taxpayer can invest money in pension account, will have the option to take part of the corpus as lump-sum and the remaining in the form of a fixed monthly income. At 60, NPS subscribers are allowed to withdraw 60 per cent of the corpus of which, presently 40 per cent is tax exempt. However, the government has recently proposed to make the entire 60 per cent tax free. The proposed amendment will be effective from the tax year 2019-20. The remaining 40 per cent of the money will have to be invested in monthly pension annuity plan.</p>\n\n<p>The NPS offers two choices to its subscribers:<br />\n1) Active Choice: where the investor can decide how to invest the money in different assets</p>\n\n<p>2) Auto choice or lifecycle fund is the default option wherein the money in invested automatically as per the subscriber’s age.<br />\n<br />\nFurther the NPS offers two accounts: Tier-I and Tier-II. While Tier-I is a mandatory account, Tier-II is voluntary. Also, you aren’t authorized to withdraw all the money from Tier-I account till your retirement. However, from the Tier-II account, you can withdraw all the money invested in it.</p>\n\n<p>The government’s move to make NPS withdrawal limit tax free can be seen as a positive move to draw more investors into the scheme. Further with <a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/tax-benefits-of-various-pension-plans">tax benefits</a> under various sections of the Income Tax (Act), the investors will surely now look towards enhancing their investment portfolio in the last quarter of the financial year.</p>\n\n<p>HDFC Life offers pension and retirement plans that are aimed at securing your retired life. For details, click on the mentioned link: <a href="https://www.hdfclife.com/retirement-and-pension-plans">https://www.hdfclife.com/retirement-and-pension-plans</a>.</p>\n\n<p style="text-align:center"><a href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/click-2-retire-plan/Calculator?source=NW_KC_NPS100PercentTaxFree_CalcP_C2R&agentcode=00399206"><img alt="" src="https://beta-api.hdfclife.tech/2.0/redirect/media/image/retirement calculator.png" /></a></p>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Image-Resize_KC---6-Articles_5_874-X-364_tile.jpg', 'slug': 'nps-withdrawal-limit-100percent-tax-free', 'tags': ['Retirement Planning', 'Retirement', 'Insurance Basics', 'Health', 'Tax', 'Investment', 'insurance'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Image-Resize_KC---6-Articles_5_874-X-364_thumb.jpg', 'title': 'Govt makes NPS withdrawal limit 100 per cent tax free', 'image': {'banner': 'gXyMslDdxsni370'}, 'url': '/insurance-knowledge-centre/retirement-planning/nps-withdrawal-limit-100percent-tax-free', 'excerpt': 'HDFC Life offers pension and retirement plans that are aimed at securing your retired life.', 'blog_author': None, 'id': 1066, 'view_count': 3017, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2019-03-11T07:27:00Z'}, {'tag_list': [{'text': 'Retirement Planning'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'insurance'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'The government of India had launched the mobile app Umang, with the aim to provide access to many government services in one place. To Know more about UMANG benefits, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'How to view your PF passbook using UMANG app - HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'umang, umang benefits, umang app, epfo, digilocker'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/financial-tools-calculators/retirement-planning-calculator?source=NW_KC_PlanRW_17&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'Securing the Future for Your Loved Ones'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/Securing-the-future_865-x-360.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Securing-the-future_865-x-360_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Securing-the-future_865-x-360_tile.jpg', 'id': 'G33vUIRXifzSWd7', 'url': 'https://brandsite-static.hdfclife.com/media/image/Securing-the-future_865-x-360.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>The government of India had launched the mobile app <a href="https://web.umang.gov.in/web/#/">Umang</a>, with the aim to provide access to many government services in one place and at one go. The app provides multiple facilities for subscribers of the Employees' Provident Fund Organisation (<a href="https://www.ndtv.com/business/epf-account-withdrawal-claim-filing-online-epfo-announces-new-rules-1838689">EPFO</a>). It helps EPFO subscribers access all services from this app. The app is currently available on Google, Apple and Windows platforms. The app also provides seamless integration with services like Aadhaar and <a href="https://www.ndtv.com/business/aadhaar-card-update-how-to-change-mobile-number-email-id-via-digilocker-1830574" target="_blank">Digilocker</a>.</p>\n\n<h2><strong>Umang benefits </strong></h2>\n\n<p>Subscribers can raise provident fund (PF) claims.</p>\n\n<p>Members can view their passbook and initiate enquiry about PF balance<br />\n<br />\nYou can even track your PF claim</p>\n\n<p>Members can get access to remittance details by using an establishment ID<br />\n<br />\nYou can also search for EPFO offices</p>\n\n<p>You can know the status of your PF claim<br />\n<br />\nH<strong>ow to check PF account balance via Umang app</strong><br />\n- Open Umang app and click on EPFO.</p>\n\n<ul>\n\t<li>You will be directed to a page which shows employee centric services, general services, employer centric services, eKYC servcies, and Jeevan Praman.</li>\n\t<li>Click on 'view passbook' and type put your UAN.</li>\n\t<li>Log in and input the one time password (OTP) that you will receive on your registered mobile number.</li>\n\t<li>The OTP is valid for 30 minutes. After inputting the OTP, you will be able to see your PF passbook.</li>\n\t<li>HDFC Life offers pension and <a href="https://www.hdfclife.com/retirement-and-pension-plans">retirement plans</a> that are aimed at securing your retired life. For details, click on the mentioned link: <a href="https://www.hdfclife.com/retirement-and-pension-plans">https://www.hdfclife.com/retirement-and-pension-plans</a>.</li>\n</ul>\n\n<p style="text-align:center"><a href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/click-2-retire-plan/Calculator?source=NW_KC_PFPassbookUMANGApp_CalcP_C2R&agentcode=00399206"><img alt="" src="https://beta-api.hdfclife.tech/2.0/redirect/media/image/re.jpg" /></a></p>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Securing-the-future_865-x-360_tile.jpg', 'slug': 'pf-passbook-using-umang-app', 'tags': ['Retirement Planning', 'Retirement', 'Insurance Basics', 'Health', 'Tax', 'Investment', 'insurance'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Securing-the-future_865-x-360_thumb.jpg', 'title': 'How to view your PF passbook using UMANG app', 'image': {'banner': 'G33vUIRXifzSWd7'}, 'url': '/insurance-knowledge-centre/retirement-planning/pf-passbook-using-umang-app', 'excerpt': 'HDFC Life offers pension and retirement plans that are aimed at securing your retired life.', 'blog_author': None, 'id': 1065, 'view_count': 3018, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2019-03-11T07:27:00Z'}, {'tag_list': [{'text': 'Retirement Planning'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'insurance'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'There are a lot of factors which decide what sort of coverage will be ideal for you after your retirement. To know more about things to avoid while investing for retirement, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': '5 Things to Avoid While Investing For Retirement - HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'planning for retirement, retirement investment, investment choices, retirement plan'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/retirement-and-pension-plans?source=NW_KC_PlanRW_19&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'Working of Pension Plans in India'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/6-Working of Pension Plans in India- Banner.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/6-Working of Pension Plans in India- Banner_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/6-Working of Pension Plans in India- Banner_tile.jpg', 'id': 'uCjTGyWwszTDR31', 'url': 'https://brandsite-static.hdfclife.com/media/image/6-Working of Pension Plans in India- Banner.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>Retirement is a stage of life when, after decades of dedicated professional work and long years of service, every professional looks forward to fulfilling her/his personal commitments and long-awaited aspirations. Understandably, every person wishes to live a comfortable retired life with no financial hassles and in fact, every person is entitled to such a stress-free retired life. After all, this is the golden phase of life and the ideal time to fulfill the special commitments that you have towards your loved ones. This is also the time when all the time that you have on your hands is meant for self development and for your family. Therefore, it is very important that you must begin <a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/tips-for-buying-retirement-plan">planning for retirement</a> at a timely stage when you are at the peak of your potential professional growth. This will ensure that the time-factor is in your favor and by the time you retire, there is a sufficient fund corpus in place for all your requirements.</p>\n\n<p>There are a lot of factors which decide what sort of coverage will be ideal for you and your dependent family members after your retirement. However, there are certain mistakes that professionals commonly commit while planning their retirement. Below mentioned are five major factors that you must avoid while investing for retirement:</p>\n\n<ol>\n\t<li>Delayed approach: A timely decision is the best decision. Ideally, you must start planning for your retirement in the early stages of your career because this will allow you a proper term in years to build up and retain a sufficient coverage for your golden years. Therefore, it is important that you take a timely decision and start saving as soon as you are in a position to do so.</li>\n\t<li>Not choosing the due sum assured: Sum assured is the amount of funds that you will be entitled to when you retire. You must carefully choose the total sum coverage that you require post retirement in order to avoid being underinsured. For this, it is important to carefully list out your specific requirements and match them with the sum assured as per the <a href="https://www.hdfclife.com/retirement-and-pension-plans/click-2-retire">retirement plan</a> that you wish to choose.</li>\n\t<li>Not considering the inflation-factor: This is one of the most common mistakes that people make while planning for the future requirements. While choosing the coverage scope that you wish to avail, it is very important that you take inflation into consideration. Inflation is the general increase in prices over a period of time and reflects the cost of living index that will be in vogue after some decades. For any proper <a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning" target="_blank">retirement planning</a>, it is very essential that you consider this factor carefully.</li>\n\t<li>Wrong investment choices: Investment choices may be either equity-based, high-risk options or debt-based, low-risk ones. When you choose an investment option, ensure that it is as per your risk-appetite and the time-period that you have in mind for specific financial goals. Any unplanned decision can severely impact your financial freedom.</li>\n\t<li>Not having a balanced portfolio: You must equally invest in debt and equity fund options and not take a one-sided approach to investment. This will ensure that there is optimum fund growth and a durable financial reserve is created by the time of your retirement. Therefore, you must aim for a balanced financial portfolio.</li>\n</ol>\n\n<p>HDFC Life offers various pension and retirement plans that seek to secure optimum benefits for your retired life. For details, click on the mentioned link: <a href="https://www.hdfclife.com/retirement-and-pension-plans">https://www.hdfclife.com/retirement-and-pension-plans</a>.</p>\n\n<p style="text-align:center"><a href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/click-2-retire-plan/Calculator?source=NW_KC_5ThingsToAvoidInvestingReti_CalcP_C2R&agentcode=00399206"><img alt="" src="https://beta-api.hdfclife.tech/2.0/redirect/media/image/pension plan.jpg" /></a></p>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/6-Working of Pension Plans in India- Banner_tile.jpg', 'slug': '5-things-to-avoid-while-investing-for-retirement', 'tags': ['Retirement Planning', 'Retirement', 'Insurance Basics', 'Health', 'Tax', 'Investment', 'insurance'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/6-Working of Pension Plans in India- Banner_thumb.jpg', 'title': '5 Things to Avoid While Investing For Retirement', 'image': {'banner': 'uCjTGyWwszTDR31'}, 'url': '/insurance-knowledge-centre/retirement-planning/5-things-to-avoid-while-investing-for-retirement', 'excerpt': 'HDFC Life offers various pension and retirement plans that seek to secure optimum benefits for your retired life.', 'blog_author': None, 'id': 1062, 'view_count': 1594, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2019-03-11T07:27:00Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': "The thumb rule for planning a retirement is, 'the earlier you start, the better it is'. This article covers all the pros & cons so that you can start planning today!"}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'Plan Retirement as Per Age - One Guide for All Ages | HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'retirement planning, effective retirement planning, how to plan for retirement, plan retirement'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/retirement-and-pension-plans?source=NW_KC_PlanRW_2&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'Travelling the world post retirement'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/financial moves.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/financial moves_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/financial moves_tile.jpg', 'id': 'iCIAWQDr1XgAMlM', 'url': 'https://brandsite-static.hdfclife.com/media/image/financial moves.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>The thumb rule for <a href="https://www.hdfclife.com/retirement-and-pension-plans">retirement planning</a> is – the earlier you start, the more you save. However, with age, your priorities change too. So, you need to factor in the cost of living in the present vis-à-vis future, inflationary pressures as well as healthcare costs. It is not about the “quantity”, it is more about the “quality” and your future needs. Retirement planning has its pros and cons. It is upto you to choose wisely.</p>\n\n<p>Let us take you through an age-wise retirement planning proposal.</p>\n\n<h2><strong>If you’re in your 20s</strong></h2>\n\n<p>Twenties is the best time to start your retirement planning. You may want to enjoy your life at the moment, but if you are able to save now you will save a huge corpus by the time you retire. Further, you will have a lower premium amount as it will add up to a higher <a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/high-return-investment" target="_blank">investment</a> value by the time you decide to increase the amount. Early start will lay the foundation for your future savings initiatives.</p>\n\n<h2><strong>If you’re in your 30s</strong></h2>\n\n<p>By now, maturity has set in. You are more responsible towards not just yourself but also your family. Thus, you will begin planning a corpus without any financial load. Further, the longer term you invest for, the more you will be able to generate interest and save more. Check out <a href="https://www.hdfclife.com/retirement-and-pension-plans/personal-pension-plus">HDFC Life Personal Pension Plus</a>.</p>\n\n<h2><strong>If you’re in your 40s</strong></h2>\n\n<p>Experts consider it a safe bet for starting your retirement plans. You have two decades more to build a substantial sum for your future needs. However, in the 40s, what actually is cumbersome is your present financial needs. It can be your child’s education, parents health needs or may be even your needs. Your approach towards saving in this time period will have to be a little conservative keeping in mind both present and future circumstances. You will have to ensure you do not stretch yourself beyond a certain limit. At the same time, save a little at least to add to your future corpus, instead of spending it all in the present. You can start even with your company’s retirement plans if they have any. Or else, check out <a href="https://www.hdfclife.com/retirement-and-pension-plans/pension-guaranteed-plan">HDFC Life Pension Guaranteed Plan</a>.</p>\n\n<h2><strong>If you’re in your 50s or beyond</strong></h2>\n\n<p>Better late than never. You can still start saving till your retirement. You will need to be a little more aggressive in saving. All this will be possible because you may not really have major financial obligations and thus, you can take out a heavy chunk from your earnings and put it all up for savings. If you’ve decided to take the retirement call earlier than you thought, you could seek some consultant opportunities at places so there is a steady stream of income from which you can demarcate some for your retirement planning.</p>\n\n<p>All said and done, don’t push yourself to the end of your retirement and make an early start. HDFC Life presents a host of retirement plans for an effective <a href="http://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/indians-retirement-plan">retirement planning</a>. For details, click on the mentioned link: <a href="https://www.hdfclife.com/retirement-and-pension-plans">https://www.hdfclife.com/retirement-and-pension-plans</a>.</p>\n\n<p style="text-align:center"><a href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/click-2-retire-plan/Calculator?source=NW_KC_PlanRetirementasPerAge_CalcP_UL8C2I&agentcode=00399206"><img alt="" src="https://beta-api.hdfclife.tech/2.0/redirect/media/image/re.jpg" /></a></p>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://www.hdfclife.com/financial-tools-calculators/retirement-planning-calculator" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">Retirement Planning Calculator</a></p>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning" target="_blank">RETIREMENT PLANNING GUIDE</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/retirement-planning-in-india" target="_blank">Retirement Calculator: How to plan an early retirement</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/nearing-retirement" target="_blank">Insurance Needs of Individuals Nearing Retirement</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/asset-allocation-for-retirement-planning" target="_blank">Retirement planning - how important is asset allocation</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/retirement-planning-tips-for-late-starters" target="_blank">Retirement Planning Tips for Late Starters</a></li>\n</ul>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/financial moves_tile.jpg', 'slug': 'retirement-planning-as-per-age', 'tags': ['Retirement', 'Insurance Basics', 'Health', 'Investment', 'Tax', 'Child'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/financial moves_thumb.jpg', 'title': 'How to Plan for Retirement as Per your Age', 'image': {'banner': 'iCIAWQDr1XgAMlM'}, 'url': '/insurance-knowledge-centre/retirement-planning/retirement-planning-as-per-age', 'excerpt': 'HDFC Life presents a host of retirement plans for an effective retirement planning', 'blog_author': None, 'id': 1014, 'view_count': 1807, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2019-02-14T06:03:00Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'Title', 'slug': 'title', 'value': 'Why Life Insurance Is Must for Retirement Planning – HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'Meta Description', 'slug': 'meta-description', 'value': 'Life insurance is one of the key factors that enable a person to ensure that her/his dependent family members have a secure future. To Know more about life insurance, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'Meta Keywords', 'slug': 'meta-keywords', 'value': 'life insurance plan, life insurance for retirement, tax benefits, retirement planning'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'Life insurance is one of the key factors that enable a person to ensure that her/his dependent family members have a secure future. To Know more about life insurance, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'life insurance plan, life insurance for retirement, tax benefits, retirement planning'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/retirement-and-pension-plans?source=NW_KC_PlanRW_22&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'Importance of Pension Plans in Indian Nuclear Families'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/expected-unexcpected.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/expected-unexcpected_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/expected-unexcpected_tile.jpg', 'id': 'JThGUFKbc6UVUI6', 'url': 'https://brandsite-static.hdfclife.com/media/image/expected-unexcpected.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>Life insurance is one of the key factors that enable a person to ensure that her/his dependent family members have a secure future at all times and under all circumstances. Having a <a href="https://www.hdfclife.com/retirement-and-pension-plans" target="_blank">life insurance plan</a> is also a covering factor which denotes financial coverage for a person in meeting the desired financial goals without any undue stress. However, when it comes to the correlation between life insurance and <a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning">retirement planning</a>, many people do not sufficiently understand the key points. Therefore, here is a list of factors which will enable us in understanding why life insurance is a must for retirement planning:</p>\n\n<ol>\n\t<li>Financial security after retirement: Financial security requires a carefully chosen financial portfolio of which life insurance forms an integral part. If you feel that a pension plan is sufficient to cover up for all the required financial coverage after retirement, you must know that for any successful retirement planning, having a life insurance plan serves as the basic thing. Life insurance coverage allows the policy subscriber to retain sufficient corpus for your dependent spouse and other family members in the event of unfortunate demise of the subscriber.</li>\n\t<li>The safety of the retirement corpus: Being insured means that you have sufficient coverage of your financial interests as well. This, in effect, means that the funds that you have built and retained for your short term and long term goals stay intact. These funds also include the retirement funds that you may have saved or may be planning to save. Besides, in the event of the policy subscriber’s demise before retirement, the dependent spouse or the other family members may have to fall on the retirement savings for day to day expenditure or for maintaining the lifestyle. This can severely impede the financial safety measures that may be required by the family in the future years. Having a life insurance plan entitles the subscriber’s nominee(s) to maturity proceeds (sum assured) in the event of the subscriber’s demise during the policy term. Therefore, it is an assurance of all round financial safety.</li>\n\t<li>Diversified investment portfolio for better returns: Investment channels that you may have adopted for planning your retirement must be diversified. This usually means having investments in market-linked funds, corporate bonds etc. for higher returns. However, owing to the fluctuations in fund performance with market fluctuations, the ultimate gains come in the category of mild to high risk. A life insurance plan serves as a safe back up in your diversified investment portfolio and you can always rely on the guaranteed benefits provided therein.</li>\n\t<li>Easy on taxes: This is also one important parameter that decides what your total gains from investment returns for retirement are going to be. After all, taxation on funds after or even before retirement directly impacts the corpus that you are trying to accumulate. Life insurance comes with <a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/Deduction-under-section-80C">tax benefits</a> and the payable premiums are exempt from tax under the Section 80C of the Income Tax Act, 1961. Thus you save on taxes while planning your retirement.</li>\n</ol>\n\n<p>HDFC Life offers HDFC Life Click 2 Retire - an online unit linked annuity insurance plan that gives market related gains and helps you achieve your <a href="http://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/7-reasons-for-retirement-planning">retirement goals</a>. For details, click on the mentioned link: <a href="https://www.hdfclife.com/retirement-and-pension-plans/click-2-retire">https://www.hdfclife.com/retirement-and-pension-plans/click-2-retire</a>.</p>\n\n<p> </p>\n\n<p align="center"><a class="nav-btn red-btn" href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/click-2-retire-plan/Calculator?source=NW_KC_LifeInsuranceRetirementPlanning_CalcP_C2R&agentcode=00399206" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">RETIREMENT PLAN:CALCULATE PREMIUM</a></p>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/expected-unexcpected_tile.jpg', 'slug': 'why-life-insurance-is-must-for-retirement-planning', 'tags': ['Retirement'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/expected-unexcpected_thumb.jpg', 'title': 'Why Life Insurance Is Must for Retirement Planning', 'image': {'banner': 'JThGUFKbc6UVUI6'}, 'url': '/insurance-knowledge-centre/retirement-planning/why-life-insurance-is-must-for-retirement-planning', 'excerpt': 'Many people do not understand the key points between life insurance and retirement planning, read this article for factors which will enable us in understanding why life insurance is a must for retirement planning.', 'blog_author': None, 'id': 912, 'view_count': 1600, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2018-12-17T06:09:00Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'Retirement is perceived as a dull and sedate period in one’s life. But that couldn’t be further from the truth. To know more about ways to make your golden years count, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'Retired? Time to Make Your Golden Years Count– HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'golden years retirement, retirement tips, ulip investment'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n\n</script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/financial-tools-calculators/retirement-planning-calculator?source=NW_KC_PlanRW_4&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'Retired? Time to make your golden years count'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/Retired Time_865x360.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Retired Time_865x360_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Retired Time_865x360_tile.jpg', 'id': '3Rn6SZmXIs3SY1C', 'url': 'https://brandsite-static.hdfclife.com/media/image/Retired Time_865x360.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>Most of you would have watched Avatar. Not James Cameron’s sci-fi magnum opus but the one in which the original superstar Rajesh Khanna gave hope to retired folks all over India. It has a catchy song whose first few lyrics when translated in English mean “Come on friends, come run and sprint! Before dying, don’t stop living!” Of course, it doesn’t have the same flavor as it does, when rendered in Hindi by the grey-haired hero Avatar to his equally old or older compatriots. But it offers a beautiful philosophy of enjoying and appreciating the gift of life till one’s last breath.</p>\n\n<p><a href="https://www.hdfclife.com/retirement-and-pension-plans" target="_blank">Retirement</a> is often perceived as a boring, dull and sedate period in one’s life. But that couldn’t be further from the truth. If one has managed to create wealth by investing in market linked instruments such <strong>as<a href="https://www.hdfclife.com/savings-investment-plans/click-2-invest-ulip-plan"> </a> </strong><a>HDFC Life </a><a href="https://www.hdfclife.com/savings-investment-plans/click-2-invest-ulip-plan">Click2Invest</a><a href="https://onlineinsurance.hdfclife.com/buy-online-investment-plans/click-2-invest-ulip-plan/start-investing?source=M_KC_C2I_Article_Nov18&utm_source=M-KC_C2I_Article&utm_medium=Content&utm_campaign=M-KC-Article_Nov18&prod=C2I&agentcode=003992"> ULIP</a><a href="https://www.hdfclife.com/savings-investment-plans/click-2-invest-ulip-plan"> </a>, one would be financially comfortable during the sunset years. Spending money wouldn’t be an issue but how to spend one’s time would certainly be. If that is the case, here are a few ways to <strong>make your golden years count.</strong></p>\n\n<ol>\n\t<li><strong>Learn something new:</strong> Nothing keeps you young like learning something new. You could choose to learn a language, play an instrument, take up a new hobby or even start on a new sport! Did you want to paint but never got around to it? Write a novel but never managed to find enough time to sit down for long hours? Now is the time to do that! You may be advanced in age, but you still have a lot of new things to explore, new beginnings to kick start.</li>\n\t<li><strong>Travel:</strong> Albert Einstein had famously quoted that “Life is like a bicycle, one has to keep moving to maintain balance”. Ever heard of the tea selling couple from Kerala who have travelled more than 16 countries and still plan to keep travelling in spite of being seniors? If you haven’t been a serial traveler during your younger days, nothing gives better perspective to life and its meaning than travelling. You get to experience different cultures, taste variety of food, make friends from other parts of the world and a lot more. India itself has a wide range of travel destinations to offer if you wish to visit parts of your country which you haven’t done earlier.</li>\n\t<li><strong>Volunteer:</strong> You may have wanted to contribute to a cause, but the time you could devote to this would have been severely limited because of your other commitments. Now is the time to contribute to your favorite cause. The lifetime of experience that you have amassed can be of great service to them. Handling accounts for an orphanage or offering investing advice to an NGO or taking free tuitions for children from under privileged background are some instances of donating your time and effort as it need not always be money.</li>\n\t<li><strong>Freelancing or consulting:</strong> Some of us may want to work for a few hours in a day to keep refining our already sharp skills. One can explore freelancing assignments or consulting opportunities. For instance, a retired Chartered Accountant could engage with a few startups to advise them on fund raising or better ways to manage their working capital. The startups benefit from excellent advice at an affordable price whereas for the CA this is an opportunity to not only earn some money but also be professionally engaged on one’s own terms.</li>\n\t<li><strong>Communicate</strong>: First things first, communication will be key to your happiness in the old age. Talk to your family and friends, include your lifelong partner in your plans. Do not be a recluse. This is important for two reasons – first, you will be role model to other retirees as you make plans with them, and second, your family will be able to act quickly in case any emergency strikes.</li>\n\t<li><strong>Get a pet: </strong>As children grow up and move away, seniors may feel that an empty house resembles party hall after the celebrations are over. For those who are open to having an animal in the house, getting a pet would be a great idea. Research has shown that pets help in decreasing loneliness among seniors apart from offering other benefits such as the zeal to feel responsible again or the urge to walk with the pet and thus keep oneself fit.</li>\n\t<li><strong>Mentor:</strong> Many ambitious young people can benefit from your experience. Find someone who would value what you have achieved and would like to learn from your experiences. Take time out every week to talk to a mentee and make a difference to their life.</li>\n</ol>\n\n<p>With so many activities lined up, one may be tempted to claim that 60s is the new 20s!</p>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Retired Time_865x360_tile.jpg', 'slug': 'retired-time-to-make-your-golden-years-count', 'tags': ['Retirement'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Retired Time_865x360_thumb.jpg', 'title': 'Retired? Time to make your golden years count', 'image': {'banner': '3Rn6SZmXIs3SY1C'}, 'url': '/insurance-knowledge-centre/retirement-planning/retired-time-to-make-your-golden-years-count', 'excerpt': 'Retirement is often perceived as a boring, dull and sedate period in one’s life. But that couldn’t be further from the truth. Spending money wouldn’t be an issue but how to spend one’s time would certainly be.', 'blog_author': None, 'id': 878, 'view_count': 1796, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2018-11-30T12:08:00Z'}], 'mobile-question-heading': None, 'icon_url': None}, 'id': 'xWd9HyoEjIMMRDt', 'type': 'article_list', 'slug': 'kc-landing-featured-articles', 'template_url': 'kc-details-theme-one/widgets/knowledge_center.tpl.html', 'fields': {'textfield': ['heading', 'mobile-question-heading', 'mobile-question-text']}}, 'k6NVSGBjDbNPdep': {'id': '2k0ZQ6VmUrmOHSU', 'label': 'brandsite header - (Individuals)', 'data': {'label': 'brandsite header - (Individuals)', 'bell-notification': {'content': [{'text': "Protect your family's future goals at just Rs. 1000 p.m* with HDFC Life Click 2 Wealth.", 'title': 'INVEST NOW', 'link': 'https://onlineinsurance.hdfclife.com/ocp?prodcd=UL8CIP&source=NW_Not_UL8CIP_1000&agentcode=00399206&journey=SH'}, {'text': 'Plan for guaranteed*, tax-free^ income to secure your future with HDFC Life Sanchay Plus.', 'title': 'Plan Now', 'link': 'https://onlineinsurance.hdfclife.com/buy-online-savings-plans/sanchayplus-savings-plan?source=NW_Not_SANCHPE_guaranteedincome&agentcode=00399206'}, {'text': '#BounceBack - The true story of Darpan Inani', 'title': 'Watch Now', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre/video'}, {'text': 'Hassle free premium payments options.', 'title': 'PAY NOW', 'link': 'https://onlinepayments.hdfclife.com/HDFCLife/quick_pay.html'}, {'text': 'Track the performance of all funds.', 'title': 'KNOW MORE', 'link': 'https://www.hdfclife.com/fund-performance'}, {'text': 'Join the HDFC Life Team.', 'title': 'CAREERS', 'link': 'https://www.hdfclife.com/hdfc-careers/'}], 'label': 'bell notification'}, 'bell-notification-2': {'content': [{'text': 'Special Plans for NRI', 'title': 'EXPLORE NOW', 'link': ''}, {'text': 'Protect your loved ones with life insurance cover of Rs 50 lakh. 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No hassale.', 'title': 'KNOW MORE', 'link': ''}, {'text': 'Quick buy online and Get a 20 lakh cover @ Rs 5 / day.', 'title': 'BUY NOW', 'link': ''}, {'text': 'Demat your life insurance policies with HDFC Life.', 'title': 'START NOW', 'link': ''}, {'text': 'Quick buy online and Get a 20 lakh cover @ Rs 5 / day.', 'title': 'BUY NOW', 'link': ''}], 'label': 'bell notification 2'}, 'resume-application': 'Resume Application', 'alt': '', 'icon_url': 'https://brandsite-static.hdfclife.com/media/image/banner_image_qowxVaa.png', 'buy-policy-text': 'To buy a policy', 'resume-application-button': 'CLICK HERE', 'resume-application-link': 'https://onlineinsurance.hdfclife.com/portal.do?_pageid=ops_resappPage&_portalid=ops_resumeApp&agentcode=00399206', 'bell-disclaimer': '<p><b>Disclaimers –</b></p><p>**Only available for regular premium and limited premium</p><p>*Guaranteed Additions will vary by policy term in a range of 220% to 325% of Sum Assured on Maturity</p><p>^On survival, at the end of 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benefits such as tax savings. Keeping this in mind we offer a large range of life insurance plans such as <a href="/term-insurance-plans"> term insurance plan </a>, <a href="/women-insurance-plans"> women's plan </a>, <a href="/health-insurance-plans"> health insurance plans </a>, <a href="/retirement-and-pension-plans"> pension plans for retirement planning </a>, <a href="/children-insurance-plans"> child education plans </a>, <a href="https://www.hdfclife.com/ulip-plans"> ULIPs </a>, <a href="https://www.hdfclife.com/savings-plans"> Savings plans</a>. Most of these life insurance policies are available online, so buy one today and Sar Utha Ke Jiyo!.<br />\n<br />\nAs per regulatory changes, it is mandatory to submit PAN/Form 60 (if PAN is not available) for your policy with immediate effect. Please update via My <a href="mailto:Account/[email protected]">Account/[email protected]</a>/18602679999/HDFC Life branch. Ignore if already submitted.</p>\n\n<div class="more-content">\n<p><strong>HDFC Life Insurance Company Limited</strong>. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.</p>\n\n<p><strong>Registered Office: </strong></p>\n\n<div itemscope="" itemtype="http://schema.org/LocalBusiness"><span itemprop="name">HDFC Life Insurance Company Limited, </span>\n\n<div itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="display:none"><img alt="" itemprop="url" src="//brandsite-images.hdfclife.com/static/assets/img/brandsite_home/hdfc-life-logo.png" width="250" /></div>\n\n<div itemprop="address" itemscope="" itemtype="http://schema.org/PostalAddress">\n<p><span itemprop="streetAddress">Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, </span> <span itemprop="addressLocality"> Mumbai </span> <span itemprop="postalCode"> 400 011. </span> Tel No: <span itemprop="telephone"> (022)67516666.</span></p>\n\n<p>The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited and is used by HDFC Life under a licence/agreement<br />\nFor more details on risk factors, associated terms and conditions and exclusions, please read the sales brochure carefully before concluding a sale. ARN: EC/06/2017/9792</p>\n</div>\n\n<div class="hidden-sm hidden-md hidden-lg"><a class="cta-read-more cta-red read-more"> Read more </a> <a class="cta-read-less cta-red read-less"> Read less </a></div>\n</div>\n</div>\n\n\n<div class="modal fade videoPopup" id="spopUp">\n<div class="modal-dialog">\n<div class="modal-content">\n<div class="modal-header">\n<h4 class="modal-title" id="videoPopupModal">THANK YOU FOR CONTACTING</h4>\n<a class="modal-close" data-dismiss="modal" href="#"><img alt="" src="/static/assets/img/fund_performance/popup-close-icon.png" /> </a></div>\n\n<div class="modal-body">\n<div class="successMsg">\n<p>Your request has been submitted successfully. Our Team will get back to you soon</p>\n</div>\n</div>\n</div>\n</div>\n</div>\n'}}, 'id': 'qbOASBU8xynSNcu', 'type': 'data-wysiwyg_editor', 'slug': 'footer-text', 'template_url': 'common-widgets/footer_text.tpl.html', 'fields': {'wysiwyg-editor': ['footer-text']}}, 'QmskTXx5FJplxwG': {'label': 'brandsite get app link - new - Z', 'data': {'icon_url': None, 'label': 'brandsite get app link - new - Z', 'get-app-link-footer': 'I hereby consent to receive policy related communication from HDFC Life or its authorized representatives via Call, SMS, Email & Voice over Internet Protocol (VoIP) including WhatsApp. and agree to waive my registration on NCPR (National Customer Preference Registry) in this regard.', 'get-app-link-main-header': 'DOWNLOAD HDFC LIFE APP', 'get-app-link-button-link': 'Link 4', 'alt': None, 'image-mobile-support': {'content': [{'image_id': '4YiDsXhrjvtuEfY', 'image_url': 'https://brandsite-static.hdfclife.com/media/image/apple (1).png', 'alt': 'apple image', 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Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'pension plans, retirement planning, pension schemes, importance of pension plan, retirement plans'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Retirement:Importance of Pension Planning\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife:Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center:Retirement\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Retirement:Importance of Pension Planning\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/retirement-planning/importance-of-pension-planning/'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/retirement-and-pension-plans/pension-guaranteed-plan?source=NW_KC_PlanRW_2&agentcode=00399206'}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4_tile.jpg', 'id': 'i0UaqJyLQ6Y7UMB', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section_PYR_4">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">To ensure that we live our retired life comfortably, the way we are living today, it’s important that we plan our financial goals prudently during our working life. That’s the key to a happy retired life.</p>\n\n<p class="float-left">And they lived happily ever after... This is something we often hear in the movies, or in the early days of one’s married life. But, as a matter of fact, one shouldn’t accustom oneself to hearing or thinking about these words just at those instances, but rather strive to ensure that one’s financial goals work out in such a manner that these fond memories continue into their retired life. And as we have said, to ensure that, one needs to have a financially secured retired life and, accordingly, plan for it during one’s work life.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="inner-plans-wrp generic ">\n<h2><strong>THE REAL DANGER</strong></h2>\n\n<p>Life expectancy is on the rise and this means that the non-earning period after your retirement will put that much more strain on your monthly expenses. The danger that lies ahead is obvious and cannot be brushed under the carpet. Your monthly expenses of `50,000 now would balloon to `1.32 lakh in 20 years time at an inflation of 5 per cent a year. The rise in income can offset this inflationary impact, but, maybe, not to that extent.</p>\n\n<h2><strong>THE SOLUTION</strong></h2>\n\n<p>The solution to having adequate funds in our retired life lies in our present and this also decides the shape of our future. As such, <a href="/insurance-knowledge-centre/retirement-planning/" target="_blank" title="Retirement Planning Guide by HDFC Life">retirement planning</a> becomes an important part of our financial planning during our working life.</p>\n\n<h2><strong>STARTING EARLY</strong></h2>\n\n<p>Being an early beginner is a good recipe for success in all walks of life, even in investing for our future needs. The bottom line is the time horizon—the longer one remains invested in equities, the better is the return. Thus, if someone has to <a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/dual-benefit-of-investment-and-risk-coverage" target="_blank">benefit from investments</a>, one has to make an investment pretty early in life and remain invested long enough so that the investment generates enough funds to meet the goals at the right juncture in life. When it comes to savings, too, the early birds have an advantage over those who are off the blocks late. They manage to save a decent pile for all their requirements with much less fuss. Ironically, when one is young, the reason to save is largely ignored and the focus is always on spending. The general attitude is investing can wait for now and, as such, saving is not top priority. It’s a different matter though that having a clear-cut financial path helps. If you start saving from the age of 25, you can begin with saving 10 per cent of your net income till the age of 30, by when you are likely to be married. Here, even if your savings dip a bit, the head start from your early savings gives you an extra edge.</p>\n\n<h3><strong><a href="/insurance-knowledge-centre/investment-for-future-planning/power-of-compounding" target="_blank" title="Power of Compounding Calculator">Power of compounding</a>:</strong></h3>\n\n<p>The earlier you start investing, the more time your money gets to grow. If you start saving early, even in small amounts, it will help you build a sizeable savings portfolio. The rule is to invest regularly and keep reinvesting the returns. Thus, your earnings will also participate in getting more returns. Take the example of A and B (both aged 25 years). While A invests `2,500 every month, B does not. After 10 years, B begins saving `5,000 each month. When both A and B turn 45, on a realistic 12 per cent per annum return, A’s kitty is a sizeable `22.78 lakh, while B’s is nearly half at `11.09 lakh, despite having invested more than A. Thus, to avoid B’s predicament, start investing early on in life.</p>\n\n<h3><strong>Arriving at your pension needs:</strong></h3>\n\n<p>Consider your monthly expenses at current costs. Assuming an inflation rate of about 5 per cent a year, inflate them for the number of years left for you to retire. This gives you the amount of inflated monthly expenses you would need to survive through your retired years. <a href="/financial-tools-calculators/retirement-planning-calculator" target="_blank" title="Retirement Planning Calculator">Estimate</a> how much you need to start saving from now till your retirement age to amass a corpus that will provide you with an inflated monthly amount. Without exactly knowing the monthly savings required, one should not venture into planning and savings for one’s retirement. Illustratively, say someone wishing to retire after 20 years has an annual expense of `6 lakh at current costs. Assuming an inflation of 5 per cent, in order to meet his current expenses, he would need about `16 lakh in the first year after his retirement. And this amount will also keep increasing at 5 per cent per annum for every subsequent year. To meet this figure, he will have to save approximately `25,000 each month from now on assuming the investments grow at 12 per cent a year.</p>\n\n<h3><strong>The approach:</strong></h3>\n\n<p>One may invest in a lump sum at regular intervals. Alternatively, one may even choose to invest through a <a href="https://www.hdfclife.com/savings-investment-plans" target="_blank">systematic investment plan </a>(SIP). The latter involves investing a certain fixed amount of money at regular intervals rather than investing a larger lump sum amount in one go. This form of investing is largely suitable for an investor who doesn’t have a lump sum to invest, but wants to regularly keep investing in the stock market. By investing through SIP, you are not attempting to capture the highs and lows of the stock market but rather averaging the cost of your investment over a period of time. The essence of SIPs is that when the stock market falls, investors automatically acquire more units, and vice-versa. In other words, the investor buys fewer units when prices are high and more units when the prices are low. Hence, the average cost per unit drops down over a period of time.</p>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="http://blog.hdfclife.com/top-6-reasons-explaining-the-importance-of-retirement-planning-part-1-532190" target="_blank" title="Top 6 Reasons Explaining the ">Top 6 Reasons Explaining the</a></li>\n\t<li><a href="http://blog.hdfclife.com/top-6-reasons-explaining-the-importance-of-retirement-planning-part-1-532190" target="_blank" title="Importance of Retirement Planning">Importance of Retirement Planning</a></li>\n\t<li><a href="/retirement-and-pension-plans" target="_blank" title="HDFC Life Retirement and Pension Plans">HDFC Life Retirement and Pension Plans</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/nearing-retirement/" target="_blank" title="Insurance Needs of Individuals Nearing Retirement">Insurance Needs of Individuals Nearing Retirement</a></li>\n\t<li><a href="/insurance-knowledge-centre/retirement-planning/" target="_blank" title="Retirement Planning Guide">Retirement Planning Advice</a></li>\n\t<li><a href="/insurance-knowledge-centre/retirement-planning/shortcomings-of-ppf-epf/" target="_blank" title="PF/EPFs vs. Retirement Plans">PF/EPFs vs. Retirement Insurance Plans</a></li>\n\t<li><a href="/retirement-and-pension-plans/why-retirement-plan" target="_blank" title="Need of Retirement Plans">Need of Retirement Planning</a></li>\n\t<li><a href="http://blog.hdfclife.com/perspective-on-retirement-planning-532510" target="_blank" title="Retirement Planning Perspective">Perspective on Retirement Planning</a></li>\n\t<li><a href="http://blog.hdfclife.com/5-steps-to-launch-your-own-retirement-plan-part-2-532200" target="_blank" title="Steps to create your own Retirement Plan">How to Launch your own Retirement Plan</a></li>\n\t<li><a href="/insurance-knowledge-centre/retirement-planning/right-time-to-invest/" target="_blank" title="When should you investment in Retirement Planning">Right time to invest in Retirement Planning</a></li>\n</ul>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/importance-of-pension-plans-in-indian-nuclear-families" target="_blank">Importance of Pension Plans in Indian Nuclear Families</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/secure-your-future-post-retirement" target="_blank">Timely decision-making: Secure your golden years today</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/pension-plans-guide-india" target="_blank">A Guide to Pension Plans Available in India</a></li>\n</ul>\n\n<p> </p>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://www.hdfclife.com/retirement-and-pension-plans/pension-guaranteed-plan" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">Buy Retirement Plan Now</a></p>\n</div>\n</div>\n</div>\n\n<p class="Separator"> </p>\n</article>\n</div>\n</div>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4_tile.jpg', 'slug': 'importance-of-pension-planning', 'tags': ['Retirement', 'Tax', 'Insurance Basics', 'Child', 'Investment', 'Health'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4_thumb.jpg', 'title': 'Importance of Pension Planning', 'image': {'banner': 'i0UaqJyLQ6Y7UMB'}, 'url': '/insurance-knowledge-centre/retirement-planning/importance-of-pension-planning', 'excerpt': 'To ensure that we live our retired life comfortably, the way we are living today, it’s important that we plan our financial goals prudently during our working life. That’s the key to a happy retired life.', 'blog_author': None, 'id': 42, 'view_count': 1370, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2016-11-08T11:02:02Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'Key Impact of Inflation on Your Savings | HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'HDFC Life explains giving reasons that how inflation can affect your budget overtime & why it cannot be ignored to have a secured retired life. Read to know!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'how inflation affects your money, how inflation erodes savings, impact of inflation'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Retirement:Inflation Impact on Savings\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife:Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center:Retirement\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Retirement:Inflation Impact on Savings\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/retirement-planning/inflation-impact-on-savings/'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'View Savings Plan'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/savings-plans/sanchay-plus'}}], 'banner_image': {'alt': {'en': 'What are Unit-linked Pension Plans'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L_tile.jpg', 'id': 'zXCXFNMpEpXGfij', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section_PYR_2">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Living long is everyone’s dream but outliving your finances can turn it into a nightmare. Spiraling cost of basic amenities is a constant threat to retirement savings. Better known as inflation, it is the single largest menace that gnaws away any form of savings.</p>\n\n<p>Because inflation is like a silent operator working in the background, most individuals never notice its eroding effects on their finances, until it’s too late.</p>\n\n<p>Inflation has a dual impact on the investor’s hard-earned savings. It not only erodes the current purchasing power of money it also magnifies the monetary requirements for the future.</p>\n\n<p>Therefore the all-important question for the investor is – will his savings withstand the eroding effect of inflation?</p>\n\n<p>Take an investor setting aside Rs 10,000 every month in a <a href="/savings-investment-plans" target="_blank" title="savings plan">savings plan</a> that fetches 10% return. Over 30 years, his corpus will grow to Rs 2,26,04,879, which in his view is a reasonable sum to meet his financial needs at that time.</p>\n\n<p>This is of course the amount he will save, untouched by inflation.</p>\n\n<p>Once you consider inflation – say 5%, then over a 30-Yr period, the sum will halved to Rs 1,13,02,440.</p>\n\n<p>The 10% rate of return on the investment appears reasonable at first, until you factor in 5% inflation. This is the real rate of return – which is what matters at the end of the day.</p>\n\n<p>One way to counter the eroding effects of inflation is by investing a significant portion of savings in equities – like a unit-linked plan (<a href="/insurance-knowledge-centre/about-life-insurance/what-is-ulip-plans/" target="_blank" title="Definition and Meaning of ULIP">ULIP</a>), particularly at a younger age when the investor has the appetite for risk.</p>\n\n<p>The point to remember at all times is to earn a return good enough to go one up on inflation.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="inner-plans-wrp generic ">\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/financial-tools-calculators/retirement-planning-calculator" target="_blank" title="Retirement Planner Calculator">Retirement Planner Calculator</a></li>\n\t<li><a href="/retirement-and-pension-plans/why-retirement-plan" target="_blank" title="Why do I need a Retirement Plan?">Why do I need a Retirement Plan?</a></li>\n\t<li><a href="/retirement-and-pension-plans" target="_blank" title="List of Retirement & Pension Plans">List of Retirement & Pension Plans</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/how-to-secure-family-future" target="_blank" title="Securing Family Future with Life Insurance">How to Secure Family Future</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/how-to-choose-right-plan" target="_blank" title="Choosing the Best Life Insurance Policy">How to Choose the Best Life Insurance Policy</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/" target="_blank" title="Investment for Future Planning">Investment for Future Planning</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/income-protection/" target="_blank" title="How to Safeguard Money">Tips to Save Money</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/my-money-works-for-me/" target="_blank" title="How to make Money Work for you">How to make Money Work for you</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/portfolio-risk/" target="_blank" title="Managing Investment Portfolio">How to Manage Investment Portfolio</a></li>\n\t<li><a href="http://blog.hdfclife.com/early-financial-planning-532250" target="_blank" title="Early Financial Planning">Benefits of Early Financial Planning for Parents</a></li>\n\t<li><a href="http://blog.hdfclife.com/5-steps-to-successful-financial-planning-for-urban-women-532180" target="_blank" title="Financial Planning for Women">Successful Financial Planning for Women</a></li>\n\t<li><a href="/savings-investment-plans/super-savings-plan" target="_blank" title="Best Savings Plan">HDFC Life Super Savings Plan - Best Savings Plan in India for Long Term Investment</a></li>\n</ul>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/features-of-savings-insurance-plans" target="_blank">Features of Savings Insurance Plans that You Should Know</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/insurance-savings-investments-plans" target="_blank">Tools and guides - Insurance, Savings, Investments</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/traditional-savings-vs-planned-risks" target="_blank">Traditional Savings vs. Planned Risks - What to Choose?</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/financial-planning-tips-beginners" target="_blank">Early Financial Planning Tips for Beginners - Guide to Save Money</a></li>\n</ul>\n</div>\n</div>\n</div>\n\n<p class="Separator"> </p>\n</article>\n</div>\n</div>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L_tile.jpg', 'slug': 'inflation-impact-on-savings', 'tags': ['Retirement', 'Tax', 'Insurance Basics', 'Child', 'Investment', 'Health'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L_thumb.jpg', 'title': 'How Inflation Erodes Savings over the Years?', 'image': {'banner': 'zXCXFNMpEpXGfij'}, 'url': '/insurance-knowledge-centre/retirement-planning/inflation-impact-on-savings', 'excerpt': 'Living long is everyone’s dream but outliving your finances can turn it into a nightmare. Spiraling cost of basic amenities is a constant threat to retirement savings.', 'blog_author': None, 'id': 44, 'view_count': 1663, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2016-11-08T10:59:00Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'Guide for Planning your Retirement in 2016 by HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'An exhaustive guide by HDFC Life that helps you rethink& create an effective retirement plan in 2016 to ensure a hassle free post retirement life.'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'retirement planning 2016, how to plan your retirement, retirement planning guide'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Retirement:Plan For Retirement in 2015\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife:Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center:Retirement\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Retirement:Plan For Retirement in 2015\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}], 'banner_image': {'alt': {'en': 'How to Choose a Pension Plan for Retirement Planning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP3_vSFIjPn.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP3_vSFIjPn_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP3_vSFIjPn_tile.jpg', 'id': 'IrccSJ7sJANSu3u', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-RP3_vSFIjPn.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet"/>\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section_PYR_4">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Retirement planning is important for every individual’s finances. In fact, it counts as a responsibility the individual owes to himself and his family.When is the right time to retire?</p>\n<p></p>\n</div>\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<h3><strong>When is the right time to retire?</strong></h3>\n<p>For a majority of Indians, used to working as\xa0<a href="/insurance-knowledge-centre/tax-saving-insurance/tax-planning-tips-for-salaried-employees/" target="_blank" title="Taxation Of Salaried Employees">tax paying salaried employees</a>, the retirement age is fixed, so to speak. Most companies retire their employees by 60 years or thereabouts; some even earlier than that by offering them the golden handshake.</p>\n<p>Individuals could of course chart a different course altogether. They may like being busy and could work past retirement in a part-time job or conversely they may decide to retire earlier if they believe they have saved enough money to achieve financial independence post-retirement.</p>\n<p>So there is no fixed retirement age – what is important is that the individual has adequate money to meet his post-retirement obligations.</p>\n</div>\n</div>\n</div>\n<div class="inner-plans-wrp generic ">\n<h3><strong>Post-retirement income </strong></h3>\n<p>Individuals looking for steady income, post-retirement can consider taking an annuity.</p>\n<p>This involves making a lumpsum investment in the <a href="/retirement-and-pension-plans/new-immediate-annuity-plan" target="_blank" title="HDFC Life New Immediate Annuity Plan">annuity plan</a>, which then makes payment to the individual on a future date or a series of dates.</p>\n<p>The income payout is determined by a number of factors, including the tenure of the annuity.</p>\n<p>The income depends on whether he has opted for a guaranteed payout (fixed annuity) or a payout stream determined by the performance of the annuity\'s underlying investments (variable annuity).</p>\n<p>The individual can opt to receive the income payments for the rest of his life or for a fixed period of time.</p>\n<h3><strong>Provision for medical expenses</strong></h3>\n<p>Medical treatment, particularly for serious conditions are no longer affordable for a majority of individuals. And when you have retired, there is no regular income to fall back on. This makes the task of managing medical emergencies all the more painful.</p>\n<p>Take cardiovascular ailments for instance. Treating a heart ailment, especially if it involves surgery, can be expensive.Unfortunately, most individuals aren’t prepared for such an event.</p>\n<p>Cost of a heart surgery in India could vary in the region of Rs 1.5 lakhs to Rs 3 lakhs. Five years later it could be a lot more expensive at over Rs 3 lakhs and at over Rs 8 lakhs after ten years, assuming 10% rise in annual cost.</p>\n<p>If the individual hasn’t saved enough money, he would have no option other than to dip into his savings and investments or borrow money as a last resort.</p>\n<p>One way to provide for medical emergencies is by taking a health plan from an insurance company. <a href="/health-insurance-plans" target="_blank" title="Health Insurance Policies by HDFC Life">Health plans</a> offer a lot of flexibility both in terms of coverage and disbursal. For instance, certain health plans cover as many as 30 critical illnesses and over 80 surgical procedures. Payment towards illness/surgery is disbursed regardless of actual medical expenses. The policy continues even after the benefit payment on selected illnesses.</p>\n<p style="text-align:center;"><a class="btn btn-primary btn-fulid" href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/personal-pension-plus?source=W_TEBT_BodyBO_KC_PRR" style="text-align: center; width: 50%; font-size: 20px; text-transform: none;" target="_blank">Calculate Premium >></a> \u200b</p>\n<h3><strong>Similar Articles</strong></h3>\n<ul>\n<li><a href="/insurance-knowledge-centre/retirement-planning/" target="_blank" title="How to Plan for Retirement?">Retirement Planning Guide by HDFC Life</a></li>\n<li><a href="/retirement-and-pension-plans" target="_blank" title="Online Retirement and Pension Plans">Retirement and Pension Plans by HDFC Life</a></li>\n<li><a href="/retirement-and-pension-plans/guaranteed-pension-plan" target="_blank" title="Best Pension Plan by HDFC Life">HDFC Life Guaranteed Pension Plan</a></li>\n<li><a href="/retirement-and-pension-plans/click-2-retire" target="_blank" title="Online Unit Linked Retirement Scheme in India">Online Pension Scheme in India - HDFC Life Click2Retire Plan</a></li>\n<li><a href="/insurance-knowledge-centre/investment-for-future-planning/national-pension-scheme/" target="_blank" title="National Pension Scheme">What is NPS?</a></li>\n</ul>\n<p>\xa0</p>\n</div>\n</div>\n</div>\n<p class="Separator">\xa0</p>\n</article>\n</div>\n</div>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP3_vSFIjPn_tile.jpg', 'slug': 'plan-for-retirement-in-2015', 'tags': ['Retirement', 'Tax', 'Insurance Basics', 'Child', 'Investment', 'Health'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP3_vSFIjPn_thumb.jpg', 'title': 'Planning for retirement in 2016? Make your plans now', 'image': {'banner': 'IrccSJ7sJANSu3u'}, 'url': '/insurance-knowledge-centre/retirement-planning/plan-for-retirement-in-2015', 'excerpt': 'Retirement planning is important for every individual’s finances. In fact, it counts as a responsibility the individual owes to himself and his family.', 'blog_author': None, 'id': 43, 'view_count': 1179, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2016-11-08T10:56:00Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'QROPS for NRIs/PIOs - UK Pension Transfer Scheme'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'QROPS is a fund transfer scheme provided by HMRC for expats when they are moving out of UK. It provides tax efficiency, fund mobility & ROI, To know more about QROPS, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'qrops, qrops india, fund transfer scheme, overseas pension scheme'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Retirement:QROPS\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife:Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center:Retirement\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Retirement:QROPS\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/retirement-planning/qrops-uk-pension-transfer-scheme'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/retirement-and-pension-plans/pension-guaranteed-plan?source=NW_KC_PlanRW_13&agentcode=00399206'}}], 'banner_image': {'alt': {'en': 'QROPS - UK Pension Transfer Scheme'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP4_3gGatzW.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP4_3gGatzW_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP4_3gGatzW_tile.jpg', 'id': '5AZaq8gAHtC22Qz', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-RP4_3gGatzW.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section_PYR_4">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">QROPS (Qualifying Recognised Overseas Pension Scheme) is a fund transfer scheme provided by HMRC for expats when they are moving out of UK. QROPS provides tax efficiency, fund mobility & returns on investment (in India).</p>\n\n<p class="float-left"><strong>QROPS... </strong> If at any point in time you have worked in the UK and have accumulated a pension fund there, in all probabilities you would know about this term. In layman's term QROPS is an option provided by HMRC (Her Majesty Revenue & Customes - the UK based regulator), to facilitate funds transfers for expats when they are moving out of UK, either back to India or anywhere else across the world. It stands for Qualifying Recognised Overseas <a href="https://www.hdfclife.com/retirement-and-pension-plans/pension-guaranteed-plan" target="_blank">Pension Scheme</a>. The key advantages of QROPS lie in tax efficiency *, mobility it offers you to take your funds where you go and gaining from an upside by investing in countries like India which offer a higher yield.</p>\n\n<p></p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="inner-plans-wrp generic ">\n<h3>Why QROPS?</h3>\n\n<p>Lets imagine a scenario where you do not have an option of transferring your accumulated funds to a QROPS? The options left to you are:</p>\n\n<ol class="ol-list" style="margin-bottom:10px;">\n\t<li>\n\t<p>Withdraw accumulated fund when you move out and end up paying a tax surcharge in the UK as which at times are as high as 55% on the entire corpus</p>\n\t</li>\n\t<li>\n\t<p>Wait till you attain pensionable age, and utilize your funds either through annuity or in the form of income draw down as per limit defined by HMRC</p>\n\t</li>\n\t<li>\n\t<p>Once you attain pensionable age you also have an option to withdraw 25% of your corpus as tax free amount</p>\n\t</li>\n</ol>\n\n<p>However, if we look at options offered by QROPS, it definitely comes across as a good option which is allowed by Her Majesty Revenue & Customs</p>\n\n<ol class="ol-list" style="margin-bottom:10px;">\n\t<li>\n\t<p>Not withdrawing your funds in the UK and and transferring the same through QROPS, provides you with a tax efficient method to transfer your funds</p>\n\t</li>\n\t<li>\n\t<p>You tend to gain from higher annuity rates and more options vis-a-vis what you would get in the UK</p>\n\t</li>\n\t<li>\n\t<p>You also have an option of utilizing your funds to further enhance your corpus and hence gain from the higher cost of capital vis-a-vis what you get in the UK</p>\n\t</li>\n\t<li>\n\t<p>With a large no of products, QROPS also offers you a wide range of products to choose from, and to choose products that best serve your requirements</p>\n\t</li>\n</ol>\n\n<p>Broadly, for any individual, the QROPS comes across as an excellent option to not tax efficiently manage the funds but also in terms of deciding where exactly the fund should be utilized</p>\n\n<h3>QROPS in India</h3>\n\n<p>QROPS in India remains largely an untapped market and less known of an option. This is primarily on the ground of lack of awareness about QROPS and its process, availability of suitable and qualified product for such transfers, and seamless process flow right from the time the customer thinks of QROPS to the time funds are transferred. Tackling the issues of awareness, product and seamless processing, this is a huge opportunity for QROPS market in India, given the number of NRIs who either have already come back to India or are planning to come back and have a pension corpus lying in the UK.</p>\n\n<h3><a href="/retirement-and-pension-plans/qrops-overseas-pension-scheme" target="_blank">QROPS in HDFC Life</a></h3>\n\n<p>At HDFC Life we launched QROPS transfers in the 2013-14, and the response we received has been very encouraging. The key customer needs that we have identified and addressed are product and support.</p>\n\n<p>Having a suitable and qualified product is a must. Historically also, HDFC Life has been a strong promoter of retirement products. With all our 5 Retirement Solution products registered with HMRC as QROPS, we have the capability to offer the customers a wide range of products to choose from.</p>\n\n<p>One of our values being Customer Centricity, any process we design is keeping the customer in mind, with an endeavor to offer a seamless, hassle free experience. With a dedicated team handling QROPS transfers, its our attempt to give customised attention to each customer.</p>\n\n<div class="disclaimer outer-box mrgn-top10">\n<h3 class="disclaimer-heading">Disclaimer:</h3>\n\n<p>*Tax laws are subject to change, we advice you to consult your tax advisor for details.</p>\n</div>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>\n\n<h3>Tax Definitions:</h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/taxation-in-india/Service-Tax/" target="_blank" title="Service Tax In India">Service Tax</a></li>\n\t<li><a href="/insurance-knowledge-centre/taxation-in-india/What-is-VAT/" target="_blank" title="VAT In India">VAT</a></li>\n</ul>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP4_3gGatzW_tile.jpg', 'slug': 'qrops-uk-pension-transfer-scheme', 'tags': ['Retirement', 'Tax', 'Insurance Basics', 'Child', 'Investment', 'Health'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP4_3gGatzW_thumb.jpg', 'title': 'QROPS - UK Pension Transfer Scheme', 'image': {'banner': '5AZaq8gAHtC22Qz'}, 'url': '/insurance-knowledge-centre/retirement-planning/qrops-uk-pension-transfer-scheme', 'excerpt': 'QROPS (Qualifying Recognised Overseas Pension Scheme) is a fund transfer scheme provided by HMRC for expats when they are moving out of UK. QROPS provides tax efficiency, fund mobility & higher returns on investment (in India).', 'blog_author': None, 'id': 39, 'view_count': 802, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2016-11-07T08:02:00Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'The Right Time to Invest In a Retirement Plan is Now - HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'HDFC Life helps you plan your retirement after taking into consideration various factors associated with retirement planning.'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'retirement planning, how to plan your retirement, right time to invest in retirement'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Retirement:Right Time To Invest\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife:Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center:Retirement\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Retirement:Right Time To Invest\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP5_5PBNLL3.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP5_5PBNLL3_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP5_5PBNLL3_tile.jpg', 'id': 'mJCrfh2nkB8z6nl', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-RP5_5PBNLL3.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet"/>\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section_PYR_3">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Probably no single question is on an individual’s mind like this one. From the moment the individual gets his first paycheck he must make decisions and one of those decisions is whether he needs to save money for the future.</p>\n<p></p>\n</div>\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<p style="padding-right: 30px;">Some of these individuals – at least the conscientious ones – end up setting aside some money for a rainy day.</p>\n</div>\n</div>\n</div>\n<div class="inner-plans-wrp generic ">\n<p>Many end up postponing this for another day when they earn more, have a family and must deal with financial responsibilities.</p>\n<p>Mention <a href="/insurance-knowledge-centre/retirement-planning/" target="_blank" title="Retirement Planning">retirement planning</a> to this group and their likely response is going to be – why do I need to plan for retirement when I have so many years before I retire?</p>\n<p>To be sure, retirement even when it’s a distant event must be planned well in advance so that you are financially comfortably in your golden years. Living long is everyone’s dream, but outliving your finances can turn it into a nightmare.</p>\n<p>So the answer to the question – when is the right time to invest in a retirement plan? is NOW.</p>\n<p>Most individuals won’t find retirement planning urgent enough until they appreciate one point – time lost in saving for retirement cannot be recovered even if you make amends later by investing more money.</p>\n<p>Let’s understand this with an illustration involving two colleagues – Akshay and Rahul, both 25 years old,in their first jobs.</p>\n<p>Akshay being a conscientious individual starts saving early on, setting aside Rs 1,000 every month in a <a href="/savings-investment-plans" target="_blank" title="Investment Plans in India">savings and investment plan</a> with a 25-year commitment.</p>\n<p>Rahul, the carefree one, does not believe in saving money so early in his career.He takes the plunge 10 years later. However, to catch up with Akshay, he increases his monthly investment to Rs 2,000 with a 15-year commitment.</p>\n<p>Does Rahul, the carefree one catch up with Akshay, the conscientious one?</p>\n<p>Look at the table and you will find that 25 years later Rahul is nowhere close to Akshay.</p>\n<p><strong>Early bird gets the worm</strong></p>\n<table border="1" class="tbl-eligibility">\n<tbody>\n<tr>\n<td>Monthly Investment(Rs) of Rahul</td>\n<td>2000</td>\n</tr>\n<tr>\n<td>Monthly Investment(Rs) of Akshay</td>\n<td>1000</td>\n</tr>\n<tr>\n<td>Investment Tenure(years) of Rahul</td>\n<td>15</td>\n</tr>\n<tr>\n<td>Investment Tenure(years) of Akshay</td>\n<td>25</td>\n</tr>\n<tr>\n<td>Returns (CAGR) of Rahul</td>\n<td>12%</td>\n</tr>\n<tr>\n<td>Returns (CAGR) of Akshay</td>\n<td>12%</td>\n</tr>\n<tr>\n<td>Maturity Amount (Rs) of Rahul</td>\n<td>1,009,152</td>\n</tr>\n<tr>\n<td>Maturity Amount (Rs) of Akshay</td>\n<td>1,897,635</td>\n</tr>\n</tbody>\n</table>\n<p>(Returns are for illustration purpose and do not represent actual returns on an investment.)</p>\n<p>Rahul despite doubling his monthly investment to Rs 2,000 does not catch up with Akshay who is investing only Rs 1,000. Given that they both invest in the same investment plan, there is only reason for this – Akshay’s 10-year head start. The 10-year head start ensures that after 25 years, Akshay’s savings will be 88% higher than that of Rahul. From Rahul’s standpoint, a 10-year delay means that his savings will only be 53% of Akshay’s savings.</p>\n<p>Clearly, there is no best time to start saving for retirement. The best time is when you start earning. Set aside some money towards retirement even if it’s insignificant. You can increase your contribution as you begin earning more. One of the better ways to save is through a savings and investment plan designed specifically for retirement planning like the ones launched by insurance companies. Such plans have multiple options to suit investors with varying risk profiles and investment objectives.</p>\n<h3><strong>Similar Articles</strong></h3>\n<ul>\n<li><a href="/financial-tools-calculators/retirement-planning-calculator" target="_blank" title="Retirement Planner Calculator">Retirement Planner Calculator</a></li>\n<li><a href="/retirement-and-pension-plans/why-retirement-plan" target="_blank" title="Why do I need a Retirement Plan?">Why do I need a Retirement Plan?</a></li>\n<li><a href="/insurance-knowledge-centre/retirement-planning/shortcomings-of-ppf-epf" target="_blank" title="Will my provident fund savings not be sufficient?">Will my provident fund savings not be sufficient?</a></li>\n<li><a href="http://blog.hdfclife.com/top-6-reasons-explaining-the-importance-of-retirement-planning-part-1-532190" target="_blank" title="Top 6 Reasons Explaining the Importance of Retirement Planning">Top 6 Reasons Explaining the Importance of Retirement Planning</a></li>\n<li><a href="/insurance-knowledge-centre/about-life-insurance/nearing-retirement/" target="_blank" title="Insurance Needs of Individuals Nearing Retirement">Insurance Needs of Individuals Nearing Retirement</a></li>\n<li><a href="/insurance-knowledge-centre/retirement-planning/" target="_blank" title="Retirement Planning Guide">Retirement Planning Advice</a></li>\n<li><a href="/insurance-knowledge-centre/retirement-planning/shortcomings-of-ppf-epf/" target="_blank" title="PF/EPFs vs. Retirement Plans">PF/EPFs vs. Retirement Insurance Plans</a></li>\n<li><a href="/insurance-knowledge-centre/retirement-planning/importance-of-pension-planning/" target="_blank" title="Importance of Pension Plans">Importance of Pension Plans</a></li>\n<li><a href="http://blog.hdfclife.com/perspective-on-retirement-planning-532510" target="_blank" title="Retirement Planning Perspective">Perspective on Retirement Planning</a></li>\n<li><a href="http://blog.hdfclife.com/5-steps-to-launch-your-own-retirement-plan-part-2-532200" target="_blank" title="Steps to create your own Retirement Plan">How to Launch your own Retirement Plan</a></li>\n</ul>\n<p style="text-align: center;float:center;">\xa0</p>\n</div>\n</div>\n</div>\n<p class="Separator">\xa0</p>\n</article>\n</div>\n</div>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP5_5PBNLL3_tile.jpg', 'slug': 'right-time-to-invest', 'tags': ['Retirement', 'Tax', 'Insurance Basics', 'Child', 'Investment', 'Health'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP5_5PBNLL3_thumb.jpg', 'title': 'When is the right time to invest in a retirement plan?', 'image': {'banner': 'mJCrfh2nkB8z6nl'}, 'url': '/insurance-knowledge-centre/retirement-planning/right-time-to-invest', 'excerpt': 'Probably no single question is on an individual’s mind like this one. From the moment the individual gets his first paycheck he must make decisions and one of those decisions is whether he needs to save money for the future.', 'blog_author': None, 'id': 40, 'view_count': 2648, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2016-11-07T06:56:00Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'Retirement Plans Advantages Over EPF & PF | HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'Even though EPF & PF are great options for retirement, but are they better than retirement plans? This blog will tell you some key factors that you should know.'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'pf shortcomings, epf shortcomings, retirement plans advantages, epf, pf,retirement plans'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Retirement:Shortcomings of PPF and EPF\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife:Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center:Retirement\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Retirement:Shortcomings of PPF and EPF\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/retirement-planning/shortcomings-of-ppf-epf/'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan Your Retirement Now'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/retirement-and-pension-plans?source=NW_KC_PlanRW_9&agentcode=00399206'}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4_tile.jpg', 'id': 'i0UaqJyLQ6Y7UMB', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4.jpg'}, 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section_PYR_1">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Ask most individuals about how they are likely to manage their finances post-retirement and the first option they will mention is the provident fund.</p>\n\n<p></p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="inner-plans-wrp generic ">\n<p>The public provident fund (PPF) or the employee’s provident fund (EPF) is a useful avenue for building a retirement corpus; however it is unlikely to be enough for the individual let alone his family.</p>\n\n<ul class="markers mrgn-left0 pad-bottom10 mrgn-top10 list-check">\n\t<li>\n\t<h2>Why PF/PPF is not enough?</h2>\n\n\t<p>Despite a high savings rate, statistics reveal that only about 10% of India’s working population has any form of social security like the employee’s provident fund. Self-employed individuals, professionals such as lawyers, doctors and accountants, employees in the unorganized sector rarely invest in social security avenues like the PPF and even when they do, it’s mainly for tax-saving as opposed to calculated <a href="/insurance-knowledge-centre/retirement-planning/" target="_blank" title="Retirement Planning Guide by HDFC Life">retirement planning</a>.</p>\n\t</li>\n\t<li>\n\t<h2>Not good enough for inflation</h2>\n\n\t<p>Existing social security investments like the PPF or the EPF do not offer adequate returns once you consider inflation. Picture this – if long-term inflation is at 6% and the PPF rate is 8.5%, that’s a mere 2.5% (8.5%-6.0%) net of inflation.</p>\n\t</li>\n\t<li>\n\t<h2>Retirement plans are an alternative</h2>\n\n\t<p><a href="/retirement-and-pension-plans" target="_blank" title="retirement plans">Retirement plans</a> provide financial security so that when your income starts to ebb, you can still live with pride without compromising on your living standards. By providing you an avenue to accumulate and invest savings, the plan generates a lump sum on retirement, which is channelized to generate regular income through an <a href="/retirement-and-pension-plans/new-immediate-annuity-plan" target="_blank" title="HDFC Life New Immediate Annuity Plan">annuity plan</a>. Retirement plans also have an option to invest in equities thereby generating superior inflation-adjusted returns.</p>\n\t</li>\n\t<li>\n\t<p> </p>\n\t</li>\n</ul>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://www.hdfclife.com/retirement-and-pension-plans/click-2-retire" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">Buy Retirement Plan</a></p>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a about="" href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/everything-to-know-about-ppf" know="" need="" ppf="" target="_blank" title="“All" to="" you="">All you need to know about PPF</a></li>\n\t<li><a and="" best="" href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/best-saving-and-investment-schemes" is="" ppf-="" target="_blank" title="“NSC" vs="" which="" why="">NSC Vs PPF- Which is best and why</a></li>\n</ul>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4_tile.jpg', 'slug': 'shortcomings-of-ppf-epf', 'tags': ['Retirement', 'Tax', 'Insurance Basics', 'Child', 'Investment', 'Health'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP1_DeVySz4_thumb.jpg', 'title': 'Will my Provident Fund Savings not be Sufficient?', 'image': {'banner': 'i0UaqJyLQ6Y7UMB'}, 'url': '/insurance-knowledge-centre/retirement-planning/shortcomings-of-ppf-epf', 'excerpt': 'Ask most individuals about how they are likely to manage their finances post-retirement and the first option they will mention is the provident fund.', 'blog_author': None, 'id': 45, 'view_count': 5491, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2016-11-07T08:08:05Z'}, {'tag_list': [{'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'validations': {}, 'data': {'label': 'title', 'slug': 'title', 'value': 'Unit Linked Pension & Retirement Plans - Overview by HDFC Life'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'description', 'slug': 'description', 'value': 'Unit linked Pension Plans are market-linked products suitable for individuals looking for a long-term option to invest in. To know more about Unit-linked Pension Plans, Visit Now!'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is ulip, about ulip plan, unit linked pension plan'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Retirement:Unit Linked Pension Plans\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife:Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center:Retirement\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Retirement:Unit Linked Pension Plans\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}}, {'type': 'textfield', 'validations': {}, 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}}, {'type': 'textarea', 'validations': {}, 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/retirement-planning/unit-linked-pension-plans'}}], 'banner_image': {'alt': {'en': 'What are Unit-linked Pension Plans'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L_tile.jpg', 'id': 'zXCXFNMpEpXGfij', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L.jpg'}, 'content': '<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section_PYR_4">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Everyone wants to retire in a position where they are assured of financial security and peace of mind. This is very much possible if they have planned ahead for retirement by 20-30 years in their working life. One of the ways to plan for retirement is with a unit-linked pension plan.</p>\n\n<p></p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<p style="padding-right: 30px;">Unit-linked <a href="/retirement-and-pension-plans" target="_blank" title="Retirement Plans by HDFC Life">retirement plan</a> or Pension ULIPs are market-linked pension products offered by life insurance companies. They are suitable for individuals looking for a long-term retirement plan that doubles up as an investment.</p>\n</div>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<p>Pension plans typically did not offer a sum assured in the past. They were investment-oriented as opposed to insurance-oriented and hence did not provide a life cover.</p>\n\n<p>This changed with effect from September 1, 2010 when pension plans were mandated by the IRDA (Insurance Regulatory and Development Authority of India) to provide life / health cover and a minimum guarantee of 4.5%. <a href="https://www.hdfclife.com/ulip-plans" target="_blank">Unit linked insurance plans</a> have a minimum lock-in of five years and it’s no different with unit-linked pension plans.</p>\n\n<h2><strong>How unit-linked pension plans work? </strong></h2>\n\n<p>Pension <a href="https://www.hdfclife.com/ulip-plans" target="_blank">ULIPs</a> are different from traditional pension plans in terms of investments. While ULIPs invest in equity markets among other investments, traditional pension plans invest mainly in bond and government securities (gsecs or gilts) markets.</p>\n\n<p>Expectedly returns of traditional pension plans are stable and therefore more suitable for risk adverse investors. Unit-linked <a href="/retirement-and-pension-plans/click-2-retire" target="_blank" title="Online Unit Linked Pension Plan by HDFC Life">pension scheme</a> is ideal for risk-taking investors given the volatility of equities. Having said that, since equities outperform other asset classes like bonds over the long-term, the investor stands a better chance of accumulating a larger corpus over the long-term by investing in a pension ULIP.</p>\n\n<p>In terms of tax benefits however, there is no difference between the two plans. Premiums paid towards the plans are eligible for tax exemption under the broader Section 80C upto a maximum of Rs 1,50,000 annually.</p>\n\n<p style="text-align:center;"><a class="btn btn-primary btn-fulid" href="https://onlineinsurance.hdfclife.com/buy-online-retirement-and-pension-plans/personal-pension-plus?source=W_TEBT_BodyBO_KC_PRR" style="text-align: center; width: 50%; font-size: 20px; text-transform: none;" target="_blank">Calculate Premium >></a></p>\n</div>\n</div>\n</div>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/safe-investment-options-in-india-for-2015" target="_blank" title="5 Safe Investment Options In India">Safe Investment Options in India</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/safe-investment-options-in-india-for-2015" target="_blank" title="Online ULIP Plan in India">HDFC Life Click2Invest - ULIP Plan in India</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/national-pension-scheme" target="_blank" title="National Pension Scheme in India">What is National Pension Scheme (NPS)?</a></li>\n\t<li><a href="/insurance-knowledge-centre/tax-saving-insurance/latest-income-tax-slab-and-deductions-fy-2017-18" target="_blank" title="Income Tax Slab For FY 2017-18">Income Tax 2017-18</a></li>\n</ul>\n\n<h3><strong>Popular Insurance Definitions:</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/insurance-definitions/what-is-cancer-insurance/" target="_blank" title="Definition Of Cancer Insurance">What is Cancer Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance" target="_blank" title="Meaning Of Health Insurance">What is Health Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/insurance-definitions/what-is-insurance-premium/" target="_blank" title="Meaning Of Insurance Premium">What Is Insurance Premium?</a></li>\n</ul>\n\n<p> </p>\n</article>\n</div>\n</div>', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L_tile.jpg', 'slug': 'unit-linked-pension-plans', 'tags': ['Retirement', 'Tax', 'Insurance Basics', 'Child', 'Investment', 'Health'], 'category_url': '/insurance-knowledge-centre/retirement-planning/', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-RP2_7xhuH8L_thumb.jpg', 'title': 'What are Unit-linked Pension Plans', 'image': {'banner': 'zXCXFNMpEpXGfij'}, 'url': '/insurance-knowledge-centre/retirement-planning/unit-linked-pension-plans', 'excerpt': 'Everyone wants to retire in a position where they are assured of financial security and peace of mind. This is very much possible if they have planned ahead for retirement by 20-30 years in their working life. One of the ways to plan for retirement is with a unit-linked pension plan.', 'blog_author': None, 'id': 41, 'view_count': 3142, 'categories': ['insurance-knowledge-centre', 'retirement-planning'], 'publish_at': '2016-11-07T08:15:00Z'}], 'header-text': 'Articles related to Plan Your Retirement', 'icon_url': None}, 'id': '1am7PvahAO9jzZ0', 'type': 'article_list', 'slug': 'category-landing-articles', 'template_url': 'kc-category-theme-one/widgets/article-list.tpl.html', 'fields': {'textfield': ['header-text', 'bottom-button-text', 'bottom-button-link']}}, 'o2zKkc2khS4RHyN': {'label': 'category breadcrumb_KC Category Retirement1480341479', 'data': {'icon_url': None, 'label': 'category breadcrumb_KC Category Retirement1480341479', 'alt': None, 'breadcrumbs': {'content': [{'use_page': True, 'text': 'Home', 'link': 'https://www.hdfclife.com/homepage', 'page_id': 631}, {'use_page': True, 'text': 'Insurance Knowledge Centre', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre', 'page_id': 120}, {'text': 'Plan Your Retirement', 'link': ''}], 'label': 'breadcrumbs'}}, 'id': 'y2QfQBIxzZwMJfP', 'type': 'data-text_list', 'slug': 'category-breadcrumb', 'template_url': 'category-landing-theme-one/widgets/breadcrumb.tpl.html', 'fields': {'text-list': ['breadcrumbs']}}, 'EJj2BU5JYcgxYl4': {'label': 'kc categories red strip bar', 'data': {'icon_url': None, 'label': 'kc categories red strip bar', 'alt': None, 'links': {'content': [{'use_page': True, 'text': 'Insurance Basics', 'title': '', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance', 'page_id': 652}, {'use_page': True, 'text': 'Tax', 'title': '', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance', 'page_id': 653}, {'use_page': True, 'text': 'Health', 'title': '', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre/secure-your-health', 'page_id': 654}, {'use_page': True, 'text': 'Retirement', 'title': '', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning', 'page_id': 273}, {'use_page': True, 'text': 'Child', 'title': '', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre/child-future-planning', 'page_id': 263}, {'use_page': True, 'text': 'Investment', 'title': '', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning', 'page_id': 655}, {'text': 'Videos', 'title': '', 'link': 'https://www.hdfclife.com/insurance-knowledge-centre/video'}], 'label': 'links'}}, 'id': 'dKHIh3FBCXMu7DF', 'type': 'data-text_list', 'slug': 'kc-categories-red-strip-bar', 'template_url': 'common-widgets/red-strip-bar.tpl.html', 'fields': {'text-list': ['links']}}, 'NqArzyt3FNva8Zc': {'label': 'footer beware - Z', 'data': {'icon_url': None, 'label': 'footer beware - Z', 'alt': None, 'header-text': 'BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS', 'description': {'label': 'description', 'text': '<p>• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.</p>\n'}}, 'id': 'EALG8N7C2Rsj0af', 'type': 'data-only_text', 'slug': 'footer-beware', 'template_url': 'common-widgets/footer_beware.tpl.html', 'fields': {'textfield': ['header-text'], 'wysiwyg-editor': ['description']}}}, 'page-type': 'Knowledge Centre', 'slug': 'retirement-planning', 'site_id': 7, 'template_name': 'kc-category-theme-two', 'description': 'HDFC Life helps you understand importance of retirment and planning your retirement early by choosing the retirement age, estimating the post retirement income & by providing the premium that you need to invest.', 'page_content': '<p>We all have our aspirations and dreams for golden years of our life. We want to have freedom to do whatever we may want and hope to fulfill all the desires that were not fulfilled during the course of working life. It will only be possible if we have planned it well and enough funds are available to help us live our dreams. Thus, plan today for a beautiful post-retirement life.</p>\n', 'name': 'kc-category-theme-two', 'categories': ['insurance-knowledge-centre']}

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