LIC Pension & Annuity Plans
Retirement plans that convert your savings into a regular pension – immediately or after a deferment period – for your lifetime (and optionally your spouse’s).
Retirement can last 25 years or more. LIC pension plans turn your savings into a guaranteed pension. Use immediate annuity plans like Jeevan Akshay VII, Saral Pension or Smart Pension if you have retired, and New Jeevan Shanti if you want pension to start a few years later. For building a retirement fund, see New Pension Plus.
Current LIC pension & annuity plans
LIC New Jeevan Shanti
Single premium deferred pension – invest once now, get guaranteed pension for life later.
View details »LIC Jeevan Akshay VII
Immediate pension plan – pay a lump sum and pension starts right away.
View details »LIC Saral Pension
IRDAI standard immediate pension plan with return of purchase price.
View details »LIC Smart Pension
LIC’s newer immediate annuity plan with multiple pension options.
View details »LIC New Pension Plus
Unit linked pension plan – build a retirement fund, then convert it into pension.
View details »Other plans in this category
- LIC New Jeevan Dhara-II (launched Oct 2026) (Plan 892) – ask us for details
FAQs
Which Pension & Annuity Plans is right for me?
Apni details bhejiye – Vedpal Singh aapko call karke sahi plan batayenge.