Also, known as retirement plans, pension plans secure a part of your savings over a long period to provide you financial security in the future. You can choose the get the pension scheme benefits in a lump sum or regularly. Typically, pension plans come to your rescue when your regular income dries up in retirement. The money from retirement pension plans can help you be financially independent in non-working years of your life. You can use the earnings from your retirement pension plan to manage uncertainties, financial crunch situations, medical emergencies, etc. during post-retirement.In a retirement pension plan, you would be required to contribute a specific sum
regularly until retirement. The accumulated amount is then given back to you either as a lump sum payment at once or across a period at regular intervals after retirement. Best pension plans in India, like Kotak Premier Pension Plan, help you create a substantial retirement corpus, allowing you to spend your golden years worry-free and comfortably. Moreover, the pension plan by Kotak has assured benefits on death and vesting. There is also an opportunity to earn a bonus and get guaranteed additions.