Shubh Flexi Pension

What this product is

A flexible annuity plan that splits your pension into a guaranteed fixed portion and a variable portion linked to Nifty 50 performance, letting you dial up or down how much market exposure you want in retirement.

You might need this if…

• You want a pension that's not entirely fixed - you're comfortable with some Nifty-linked upside (and downside) potential in exchange for possibly higher long-run income
• You want to choose how much of your pension is guaranteed vs. variable (options typically let you set the guaranteed portion at 60-90%)
• You want flexibility between starting income immediately or deferring it (up to 20 years)
• You may want to cover a spouse or ensure your premiums come back to your family, via the return-of-purchase-price options

How it actually works

• Entry age roughly 30-85 (point-of-sale variants around 40-70); choose Single Pay or Regular/Limited Pay (roughly 2-12 years), with a deferment period of 1-20 years
• Five annuity options ranging from a simple Immediate Life Annuity to variants with Return of Purchase Price, and two "variable" options that add Nifty 50-linked income on top of a guaranteed base
• The guaranteed annuity portion is fixed at purchase; the variable annuity portion is recalculated periodically (e.g., quarterly) against an assumed interest rate benchmark, so it can rise or fall with markets
• Minimum annuity around ₹1,000/month or ₹12,000/year; payout frequency choices include monthly, quarterly, half-yearly, annual
• Under variable options, death benefit generally returns 100% of premiums paid to your nominee; under simpler options it can be lower (50-100%) or nil
• A policy loan (up to 80% of surrender value) is available after one year on most options

Worked example

Worth knowing before you decide

• The variable annuity portion can go down as well as up - it isn't a guaranteed income stream, only the "guaranteed" share is
• Illustrations using double-digit CAGR assumptions for the variable portion are optimistic scenarios, not promises
• Death benefit generosity (50% vs. 100% of premiums) depends heavily on which of the five options you pick at outset - a cheaper option may leave your nominee less protected
• This card draws on a third-party pension-plan summary rather than Tata AIA's own brochure PDF, which wasn't directly retrievable - confirm current terms with an official illustration

Official source

Not available in the current product data — this insurer has not published a standalone brochure PDF for this plan; the notes above are drawn from their official product page instead.

Learn about this category

Read the full annuities & retirement explainer → · See all retirement products →