Even if you have invested in a provident fund (PF), it is advisable to invest in a retirement plan. Existing provident fund plans are not enough for your future financial security because they do not account for inflation adequately. The returns offered on these social security investments are not suitable if you consider your income requirements during retirement. To state, assuming the long-term inflation stands at 6%, the provident funds offer merely 8.5% return rate, which accounts for only 2.5% net of inflation. This 2.5% is insufficient to meet the future expenses of your post-retirement life.People mostly consider investing in provident funds to tax-saving purposes and not to generate a source of retirement income. This is evident from statistics as well. Despite the country having a high savings rate, only 10% of the working people in India have retirement investments in provident funds. Most employees in the organised sector contribute toward provident fund only to save on taxes, as opposed to retirement planning. So, if you wish for a financially secure retirement, it is advisable to invest in a retirement plan even if you have invested in a provident fund. Retirement pension plans support you financially when your income starts to recede. Pension schemes allow you to live with pride and maintain a good standard of living, making fewer compromises and more memories. Moreover, by allowing your funds to grow and accumulate over time, you can acquire inflation-adjusted wealth in the long run with channelised income cash flows.