Pension plans are designed to help you maintain financial stability once your regular income stops. They ensure a steady flow of money after retirement, helping you manage daily expenses, medical costs, and lifestyle needs without depending on others.
In India, pension planning includes government-backed schemes like the National Pension Scheme (NPS) and Atal Pension Yojana, employer-supported options like the Employee Provident Fund (EPF), and market-linked pension funds offered by private institutions. Each plan serves a different purpose and suits different risk profiles.
Alongside pension plans, many retirees also rely on invest options like Bajaj Finance Fixed Deposits to add predictability to their retirement income, thanks to assured returns, flexible tenures, and high safety ratings.
What are pension plans?
Pension plans are long-term financial products that help individuals save systematically for life after retirement. These plans ensure continuity of income once active earnings stop. Pension plans can be contributory—where individuals invest regularly—or non-contributory, where employers or the government contribute on the individual’s behalf.
They may offer fixed returns, market-linked growth, or a combination of both. The accumulated corpus is usually paid as a lump sum, regular pension, or annuity after retirement. Some plans offer immediate payouts, while others grow over time and provide income later.
While pension plans focus on long-term income, retirees often complement them with Bajaj Finance Fixed Deposits, which provide assured returns and payout flexibility—useful for managing predictable expenses post-retirement.
Bajaj Finance FDs come with cumulative and non-cumulative options, allowing retirees to choose between wealth accumulation or regular income. Book FD.
