Lift insurance firm PNB MetLife has partnered with Policybazaar to launch the PNB MetLife Smart Invest Pension Plan, a unit-linked, non-participating individual pension plan designed for individuals aged 40-50 to help them plan for their golden years. The plan offers a flexible approach to early retirement planning, allowing customers to choose an immediate annuity upon maturity or defer it for a few years.
The plan’s features include:
* Flexibility to choose an immediate annuity or defer it for a few years
* Up to 60% of the maturity amount can be withdrawn as a tax-free lump sum
* Two funds to choose from: Pension Mid Cap Fund and Pension Bond Fund, with a NAV of ₹10
* Zero charges, ensuring maximum investment growth
* Extended vesting age option up to 70 years to match evolving retirement goals
* Market-linked return flexibility through automatic asset rebalancing or systematic transfer strategies
* Customizable options, including unlimited fund switches, premium redirection, and partial withdrawals after five years for specific needs
The plan is designed to make retirement planning more accessible, particularly for those using digital platforms seeking financial guidance. Sameer Bansal, MD & CEO of PNB MetLife, commented, “By collaborating with Policybazaar for Smart Invest Pension Plan, we aim to make retirement solutions accessible to a more people, particularly those on digital platforms actively seeking the right financial guidance for their retirement planning.” The plan is available from February 1 to February 14, 2025.