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LIC Pension Calculator

Calculate pension amount of LIC pension plans like Jeevan Shanti, Jeevan Akshay, Pradhan Matri Vaya Vandana Yojana as per your age and investment amount of your choice.

Related Link: List of Premium Calculators

Pension Type

Primary Holder's Age [ Calculate ]

Secondary Holder's Age

Pension Starts After (Years)

Purchase Amount (Single Premium)

Jeevan Shanti Deferred Annuity

It is a deferred annuity pension plan which can be taken for single or joint life with lineal ascendant or descendant, spouse or siblings. The policy is available for age group 30-85 years. It comes with deferment period of 1-20 years, a policyholder can choose after how many years the pension should start. Kindly visit LIC Jeevan Shanti Pension Calculator to learn more about it.

Jeevan Akshay VII immediate Annuity

In Jeevan Akshay, a policyholder deposits single premium and start getting Annuity (pension) as per chosen mode (yearly, half yearly, quarterly or monthly). A policyholder can choose one out of ten annuity options with single or joint life. To know more about this plan, please click here.

Pradhan Mantri Vaya Vandana Yojana (PMVVY)

PMVVY is a government of India pension scheme, exclusive for senior citizens (above 60 years of age) which provides guaranteed pension at 7.4% for 10 years and after completion of 10 years, the deposited amount is returned back to the policyholder. For more details, please click here.

Frequently Asked Quetions

What is annuity?

Annuity is payment of specified amount paid on scheduled interval mentioned in the plan document. It is also called pension in simple term.

What is deferment period?

It is period between purchase of the policy and starting of schedule annuity (pension). During deferment period no annuity is paid to the policyholder.

When pension is paid in immediate annuity?

In LIC annuity plans, pension is paid in the form of arrears, which means annuity payment is made available after completion of selected mode period. For example, first yearly pension is paid after completion of 1 year from the date of purchase.

Is pension (annuity) received is taxable?

Yes, it will be taxable and included in other income like salary for tax calculation. To avoid TDS deduction, for form 15H/15G can be submitted.

Above calculator is developed with objective to help people understand pension plans and calculations with ease and it not official calculator of LIC. In case of any query or suggestions, please write in comment box.

Comments & Reviews (2)

PSrinivasaRao Wrote :

05-10-2023 15:12:00

Greetings LIC Team,
This is Srinivasa Rao P, my policy going to mature in the year 2023 November and I heard maturity amount will be given after 1 year. My query is below:
1. Maturity amount can be converted into pension plan or not.
2. How much amount can be deposited for pension plan is there any limit as per LIC norms if yes how much.
3. Monthly pension by when we can get, after depositing or is there any period which we can opt 2 get pension specific period onward. Please advice Thanks Srini

Insurance21 Wrote :

13-10-2023 11:42:16

Yes, Maturity amount is credited to policyholder bank account after 1 year from last premium due (In case of yearly premium).
1. There is no such thing like conversion to pension plan. It is simply buying available new plan with maturity amount.
2. Generally, there is no limit to buy a pension plan.
3. After buying pension plan, you have options to take pension immediately or after some time.
For deferred pension you can look for Jeevan Shanti and for immediate pension, you can look for Jeevan Akshay

Write Comment Reply

Surya Wrote :

26-11-2022 00:50:31

Thanks