The LIC Smart Pension Plan (Plan No. 879) is a non-linked, non-participating, single-premium, immediate annuity scheme, which was launched on February 18, 2025. It provides lifetime earnings, which is perfect in the case of a retiree who wants to be assured of a steady income.
Flexible Annuity Choices
The plan has individual life and joint-life annuity. Single-life offers compensation throughout the life of the policyholder, whereas joint-life offers compensation to a spouse or a family member, which ensures a person of financial support.
Guaranteed Income Stability
This scheme provides fixed annuity payments as opposed to those made in the market-linked plans. A one-time payment is made by policyholders, and they get regular income which is predictable and covers any market volatility.
Liquidity and Loan Options
The scheme permits partial or total withdrawals in the event of an emergency such as an immediate sickness. At three-months or free-look, loans are provided up to 80 percent of the surrender value, making greater flexibility.
Special Incentives Available
LIC policyholders and nominees of deceased policyholders who already have coverage have higher annuity rates. The NPS subscribers can get up to 3% additional incentives and dependents of Divyangjan can get customized financial benefits.
Easy Purchase Process
Anybody between 18 to 100 years can invest with the lowest buy amount of 1 lakh. The plan can be accessed both online through the LIC web site and offline through the agents and is therefore easily accessible to everyone.
Annuity Payout Structure
| Payment Mode | Minimum Annuity (₹) | Maximum Annuity (₹) | Incentive for NPS Subscribers |
|---|---|---|---|
| Monthly | 1,000 | No limit | Up to 3% extra |
| Quarterly | 3,000 | No limit | Up to 3% extra |
| Half-Yearly | 6,000 | No limit | Up to 3% extra |
| Yearly | 12,000 | No limit | Up to 3% extra |
Why Choose This Plan
The LIC Smart Pension Plan 2025 ensures stable, lifelong income with flexible options, making it perfect for retirees, NPS subscribers, and those securing dependents’ futures. Its government-backed reliability and tax benefits under Section 80C add appeal. Visit licindia.in to explore or consult an LIC agent for personalized guidance.
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