Pension Plan: Types of plans

Pension Plan comes in several forms. Understanding the differences helps you choose the structure that fits your life stage and budget.

Type	What it means
Deferred annuity plan	Build a corpus now, receive income later.
Immediate annuity plan	Buy with a lump sum; income begins immediately.
Unit-linked pension plan	Corpus invested in market-linked funds during accumulation.
Traditional guaranteed pension plan	Guaranteed accumulation or income structures.
NPS (National Pension System)	Government-regulated contribution scheme with a market-linked corpus and annuity requirement on exit.
Joint-life annuity	Pays income to a spouse after the first annuitant’s death.

Not sure which suits you? Take our two-minute needs quiz or talk to us.