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Can you guide me about the best SBI pension plans for NRIs?

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Shailesh Kumar, Co-founder, Insurance Samadhan verified
Answered on October 13,2021

Dear 

You need to first understand that how a pension plan work before selecting the best :

  1. Each Pension plan has two stages . In first stage you accumulate and create a corpus which can grow either through debt returns or equity return . In second stage your accumulated fund can be used to buy an annuity . Both stages are independent of each other .
  2. As per terms today , out of total fund you can withdraw upto 60% buy 40% must be used to buy an annuity .
  3. You can also accumulate fund through other options like Mutual fund , bank deposits , property and buy annuity .
  4. There are various type of annuity plan which ensure regular income for you till you live . Returns would depend on choice of annuity . 
  5. Annuity for life with return of Purchase price is most preferred and annuity for life without return of purchase price would give best return .

Under the above explanation , all Pension Plans are same and nothing can be called best . It all depends on your choice . SBI Retire smart is a good plan with guaranteed maturity of 101% .

Hope this clarifies 

Shailesh 

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