Monthly income after retirement
Turn your corpus into a pension using government schemes, annuities and SWP — and check the insurance you need now.
FREE · NO SUBSCRIPTION · NO UPFRONT FEEMonthly income₹2,03,437₹1,94,295 after tax
Target₹1,50,000Covered ✓
Yearly tax on it₹1,09,701new regime, age 60+
Kept liquid₹6 L2 years of expenses
Where to put the corpus
Safest first; the SWP part keeps growing and protects against inflation.
| Product | Invest | Rate | Monthly | Payout | Tax · risk |
|---|---|---|---|---|---|
| Senior Citizens Savings Scheme (SCSS) | ₹30 L | 8.2% | ₹20,500 | Quarterly | Interest taxable; 80C on deposit (old regime) · Sovereign |
| Post Office Monthly Income Scheme | ₹9 L | 7.4% | ₹5,550 | Monthly | Interest taxable · Sovereign |
| Immediate life annuity (with return of purchase price) | ₹98.93 L | 6.8% | ₹56,058 | Monthly | Annuity taxable as income · Insurer, lifelong, illiquid |
| RBI Floating Rate Savings Bonds | ₹34.62 L | 8.05% | ₹23,227 | Half-yearly | Interest taxable · Sovereign, 7-yr lock-in |
| SWP from balanced advantage / conservative hybrid fund | ₹1.96 Cr | 6% withdrawal | ₹98,102 | Monthly | Only the gain part of each withdrawal is taxed · Market-linked, flexible |
Plans that pay a monthly pension
Example plans by type. Compare current annuity rates on the insurer's site before buying.
Start pension now (immediate annuity)
- LIC Jeevan Akshay VII
- HDFC Life Pension Guaranteed Plan
- SBI Life Annuity Plus
Pay now, pension later (deferred annuity)
- LIC New Jeevan Shanti
- ICICI Pru Guaranteed Pension Plan
- Max Life Guaranteed Lifetime Income
Low-cost pension while working
- NPS Tier-I (any Point of Presence or eNPS) — extra ₹50,000 deduction u/s 80CCD(1B); at 60, 60% is tax-free and 40% buys an annuity
Insurance you need today
Based on salary ₹39,000/month, age 30, loans ₹0.
Term life cover₹70 L≈ ₹630/month until 60
Health cover₹10 L≈ ₹750/month · 80D deduction
Freed if you switch₹4,370/mofrom ₹5,000 in endowment / ULIP
You pay ₹5,000 a month into insurance-cum-investment plans. A term plan gives far bigger cover for about ₹630; investing the remaining ₹4,370 in an SIP usually builds a larger corpus. Check surrender charges before stopping an existing policy.
Compare insurance plans →
Scheme rates change every quarter; SCSS and POMIS limits are per person. Educational guidance, not personalised investment advice.