LIC Saral Pension (Plan 858) – Standardized Annuity for All
LIC Saral Pension (Plan 858) is IRDAI's standardized immediate annuity product. Like Saral Jeevan Bima for term insurance, Saral Pension brings uniformity to annuity products — same features across all insurers.
Annuity Rates by Age
| Age | Rate | Monthly on ₹10L |
|---|---|---|
| 40 | 6.3% | ₹5,250 |
| 50 | 7.1% | ₹5,917 |
| 60 | 8.2% | ₹6,833 |
| 70 | 9.8% | ₹8,167 |
| 80 | 12.5% | ₹10,417 |
Two Key Variants
Single Life: Pension for your lifetime only. Stops on death, 100% purchase price returned to nominee.
Joint Life: Pension continues to spouse at 50% or 100% rate after your death. Lower rate than single life but ensures spouse is protected.
Return of Purchase Price
On death of pensioner (single life): Full investment returned to nominee. This is essentially 100% capital protection — you earn pension for life and your investment comes back.
Saral vs Jeevan Shanti
Jeevan Shanti (850) has more annuity variants and slightly higher rates for some ages. Saral Pension (858) is simpler and more transparent. For straightforward pension needs: Saral Pension. For maximum rate or joint life options: Compare both with our plan comparison tool.
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