Systematic Retirement Plan

What this product is

A deferred annuity savings plan where you pay premiums over several years to build a retirement corpus that later converts into a guaranteed lifelong pension.

You might need this if…

• You might need this if you're still 10-15+ years away from retirement and want to build a dedicated pension corpus systematically rather than with a single lump sum.
• You might need this if you want the deferment/vesting timeline aligned to your own retirement age (entry from 45, commencement up to age 80).
• You might need this if you want a choice between a plain lifelong pension or one that also returns premiums to your family.
• You might need this if you value predictability over market-linked growth for your retirement savings.

How it actually works

• It's a non-participating, non-linked deferred annuity savings plan — you pay premiums for a term (5, 8-10, or 15+ years) and the annuity commences later, up to age 80.
• Entry age is 45-75 years; minimum payouts start at ₹12,000/year, ₹1,000/month.
• Two annuity options at vesting: Life Annuity or Life Annuity with Return of Premiums.
• Annuity is paid in arrears monthly, quarterly, half-yearly, or annually, once it starts.
• The plan has no maturity benefit — it's built purely to convert into lifelong income.
• No policy loan facility is available on this plan.

Worked example

Worth knowing before you decide

• There is no policy loan facility, unlike some other HDFC Life annuity plans.
• Guaranteed Surrender Value is only acquired after two years of premiums have been paid.
• The plain Life Annuity option leaves nothing for your family on death — choose the Return of Premiums option if that matters to you.
• Grace period is 15 days for monthly premiums and 30 days for other frequencies; missing this can lapse the policy.

Official source

⌟ Official product brochure

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