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Planning is a part of almost everything, especially when your future is at stake, it should be your first consideration. Planning regarding saving up and crafting full and self sustained life is the need, and the facilitation is provided by Reliance Pension Plan.

The future is uncertain, and so, you need to make sure you have a well secured life, which is not filled with financial burden. This is when retirement age can be enjoyed to the full potential. The offering of Reliance Retirement Plans can be your consideration.

We have secured all the information, researched what it take to avail for the Reliance NPS and present to you, this article. Take a quick look, to ensure you know the overall structure of the plan.

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About Reliance Smart Pension Plans

Companies offering the plans are to be well studied as well. As the name itself signifies, Reliance Life is a unit establishment of the Reliance Group of Industries. The group was incorporated and fun by one of the reputed industrialists, Dhirubhai Ambani.

The quality assurance they provide is worth the appraisal and has diversified multi-folds and expanded to over 800 branches across the nation. It is referred to as, one of the top 5 life insurers, and is grouped among the top 2 in terms of private life insurers.

Find out what ideal Reliance National Pension Scheme and Reliance Life National Pension Funds related plans are provided by the company.


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    Types of Reliance Pension Plans

    The offered Reliance Retirement Plans are filled with features oriented towards comfortable retirement life. Two kinds of Reliance Smart Pension Plans are provided by the company, each of which are distinctive and aimed at fulfilling diverse needs of individuals.

    • Immediate annuity plan
    • Smart pension plan

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    Reliance Life Immediate annuity plan – By Reliance Pension Plans

    Speaking for the name this Reliance NPS holds, the payouts will start rolling out, immediately, i.e. after the payment of price of purchase. Note down the features it holds.

    • The holder of this Reliance Pension Plan, needs to choose an interval of payment as aspired. The next annuity payouts will get rolling accordingly, right after the premium payment.
    • Options to avail for the payouts are different as well, and here is how they go.
    1. Annuity for life
    2. Annuity for life, with return of price of purchase upon holder’s death
    3. Guaranteed payouts for period of say 5 or 10 or even 15 years. This shall lead to lifetime payable amounts simultaneously
    • Holder of this Reliance National Pension Scheme need not go through rigorously medical check ups.
    • As mentioned earlier, the premium paid here is one time pay, referred to as the price of purchase, and it is subject to tax exception under Section 80CCC.

    Eligibility Criteria for Reliance Life Immediate annuity plan

    • Age criteria: 20 to 80 years
    • Price of purchase: Rs.1 lakh for minimum and no limit for the maximum
    • Annuity to be paid per year: Rs.1,000 with no maximum limit
    • Intervals of premium payments allowed: half yearly, quarterly, monthly or even annually

    Reliance Life Smart pension plan – By Reliance Smart Pension Plans

    Here is the requirement of a unit linked plan for individual who would also like protection from market volatility. Here are the features of this Reliance Life Pension Plan.

    • Holders of this Reliance National Pension Funds can choose from different kind of premium payments. Single pay can be opted for, where a lump sum amount is applicable for payment. Next provision is of limited pay, where the premiums should be paid for a set time. Finally, the regular pay, where the premiums should be sent out for the entire fixed tenure.
    • Premium payments received in this Reliance Life Pension Plan are sent for investment in pension fund 1
    • When the plan matures, the entitlement is of higher the fund value of 110% of premiums paid. The choice of availing for the entitlement relies upon the holder. He/she can choose to avail for deferred annuity payment. On the contrary, 1/3rd of the amount can be withdrawn while the rest can be used towards annuity payments.

    More Features of Reliance Life Smart pension plan

    • The holder of this Reliance Life NPS Scheme, being under the age of 55 years, can postpone the age of vesting.
    • If annuity is availed from the maturity claim amount, there are three ways in which the proceeds can be opted. They are as follows:
    • Annuity for life
    • Annuity for life, with return of price of purchase upon holder’s death
    • Guaranteed payouts for period of say 5 or 10 or even 15 years. This shall lead to lifetime payable amounts simultaneously
    • During case of holder’s death, the nominee would be entitled to claim amount. Higher of total fund value or 105% of the entire premium amount payment would be the claim. The nominee can choose to withdraw the lump sum or avail for annuity payouts.
    • This Reliance Life NPS is subject to loyalty additions as well. That is, the holder will get 1% addition after the end of 6 years. 1% would be added up to it, after a batch of 3 years thereafter.
    • Fund value of this Reliance Life NPS Scheme can be taken up, by availing in top up premiums. The least amount of premium top up u can buy is Rs.5,000.
    • Tax exception applies for the premium paid under the Section 80CCC, death benefits under Section 10(10D) and withdrawn maturity amount under Section 10(10A).

    Eligibility Criteria for Reliance Life Smart pension plan

    • Age criteria: 18 to 65 years
    • Vesting age: 45 to 75 years.
    • Period: 10 for single pay, 15 years for the regular or the limited pay and up to 40 years on maximum.
    • Premium to be paid per year: Rs.24,000 for limited pay, Rs.20,000 for regular pay and Rs.50,000 for single pay with no maximum limit
    • Payment term: 10 years on the minimum and 30 years for the maximum
    • Intervals of premium payments allowed: half yearly, quarterly, monthly or even annually

    Check out more Pension Plans available for Investment


    Reliance Pension Plans / Retirement Plans – Conclusion

    Reliance life has everything planned for, if only you wish to get associated with them. They have every aspect of a person’s need figured out through their extensive Reliance Pension Plan. You can easily get associated with them if you like their plans.

    You can choose to avail for their plans online, or even choose to meet their intermediaries. Securing your future is more that easy to plan, with Reliance Life.


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