Retire from job not your dreams with this guaranteed income plan

The very lovable character of Brij Gopal Sharma aka Sharmaji in the recent film Sharma Namkeen has provided great insights about post retirement life. The film throws light on the life of a 58-year old middle-class widowed man, forced into retirement and the humdrum it brings along. The way he struggles to accept post-retirement life, reluctantly passing time by watching TV, doing thankless favours for his neighbours, walking in parks with fellow retirees, among other things.

He ultimately finds his true calling with cooking on his journey of self-discovery. In hindsight, if Sharmaji had planned his retirement well, he wouldn’t have to bear so much disapproval from his family. The film is a reality check for those ignoring the basic tenets of financial planning - goal setting and planning.

Most Indians work towards meeting their immediate financial responsibilities like home buying, children’s education, wedding and day-to-day expenses without leaving much scope for retirement savings. With the realisation that early investing is the only way to plan for the future, saving systematically through guaranteed income plans is the right thing to do.


Financial independence with a secure and regular stream of income in post-retirement years is the ultimate goal for most individuals. Everyone may not opt for early retirement but even if you plan to, nothing should come in the way of your dreams. This is possible with deferred annuity plans.

To make your transition smooth and to enjoy retirement on your own terms, HDFC Life offers Systematic Retirement Plans, so that you work towards your skills and follow your passion without worrying about income generation after you bid goodbye to your 9 to 5 routine.

HDFC Life Systematic Retirement Plan is a non-participating savings deferred annuity plan which allows you to gradually build your retirement corpus with the flexibility to choose the deferment period so that you can enjoy and live a comfortable lifestyle.

Reasons why you should choose HDFC Life Systematic Retirement Plan

• Option to defer annuity payouts by choosing the deferment period.
• Option to receive annuity monthly, quarterly, half-yearly or yearly as per your requirement.
• Get guaranteed* income for the whole life by paying premiums for a limited period.
• Options of return of total premiums paid on death of policyholder.

* Amount of guaranteed income will depend upon premiums paid subject to applicable terms and conditions.

Here are 5 easy steps to get your annuity
Step 1: Choose the premium that you wish to pay to buy an annuity amount or the annuity payout you wish to receive.
Step 2: Choose premium payment term and deferment period as per your convenience
Step 3: Choose your annuity option
Step 4: Choose your annuity payout frequency or any date of your choice
Step 5: Receive your annuity payouts through direct credit to your bank account

Eligibility and Other Criteria
Anyone with a minimum age of 45 years and maximum 75 years can choose to buy the plan. It comes with a minimum premium payment term of 5 years and maximum of 15 years. The annuity payouts can be monthly, quarterly, half-yearly or yearly. You can choose any of the two annuity options at inception. Plan option once selected cannot be changed. a) Life Annuity b) Life Annuity with Return of Premiums.

Early investments offer multiple advantages, with the biggest being compounding. Giving your money enough time to grow into a handsome corpus to meet your financial goals. In simple terms compounding refers to reinvesting the earned profits to make your investments grow exponentially. To take full benefits of the power of compounding, one can start investing even in small amounts.

Considering pension and retirement financial instruments like these can help you decide on your retirement life without worries. Your actions when you are earning will define the life you wish to lead in your golden years. For more information, visit.