Imagine receiving Rs 50,000 every month for life after retirement — without any market risk. LIC pension plans make this possible with guaranteed annuity payouts.
Best LIC Pension Plans in 2026
1. LIC Saral Pension (Plan No. 862)
The simplest and most popular pension plan from LIC.
How It Works: Pay a lump sum amount. Receive guaranteed pension every month for life.
Minimum Purchase Price: Rs 1,00,000
Pension Mode: Monthly, Quarterly, Half-Yearly, or Yearly
Annuity Rate: Approximately Rs 8,000-9,000 per lakh per year (varies by age)
Example: If you invest Rs 60 Lakh at age 60, you get approximately Rs 48,000-54,000 per month for life.
2. LIC Jeevan Akshay VII (Plan No. 957)
More flexible pension plan with multiple annuity options.
10 Annuity Options: Choose from life annuity, joint life, with return of purchase price, increasing annuity, and more.
Entry Age: 30 to 85 years
Minimum Purchase Price: Rs 1,00,000
3. LIC New Jeevan Shanti (Plan No. 958)
Deferred annuity plan where you invest during working years and pension starts later. Good for those aged 30-50 who want to build retirement corpus gradually.
How Much Do You Need for Rs 50,000 Monthly Pension?
Based on current LIC annuity rates:
Age 55: Approximately Rs 75-80 Lakh lump sum needed
Age 60: Approximately Rs 65-70 Lakh lump sum needed
Age 65: Approximately Rs 55-60 Lakh lump sum needed
How to Build Your Retirement Corpus
If you are 30 and want Rs 70 Lakh by age 60:
SIP of Rs 5,000/month at 12 percent returns grows to approximately Rs 1.05 Crore in 30 years — more than enough for a comfortable pension.
Tax Benefits
Section 80CCC: Premium paid up to Rs 1.5 Lakh deductible.
Pension Income: Taxable as per your income tax slab.
Commutation: One-third of commuted pension is tax-free for LIC plans.
Plan Your Retirement — FREE
Use our Retirement Calculator to find out how much you need. Then book a free consultation for a personalized retirement plan.