How to go for Pension Plans or retirement Planning

How to plan for retirement. I am investing in PPF regularly but very actively looking for retirement from ICICI, HDFC or Metlife. Still not clear on what`s best, looking at following parameters to start with:
a. Minimal Premium Accumulation Charge ( Even if it`s there, then only for regular premium for first few years ).
b. No or very little premium on Top-ups
c. Clear guidelines on Annuity plan ( ICICI explains most clearly but doesn`t give all answers ).
d. Death Benefits ( I don`t want life insurance cover )
e. Any other charges if any should be clearly started in terms on figures on monthly/annual basis, also whether expenses are on NAV or premium paid.

Answer – Dear Friend, Plz. do a simple exercise. Call at least 5-6 Ins. agents from different Ins. cos. & give following details to agents. 

1. Age of Person, 60 years (the age u `ll start receiving ur pension)
2. Amount to be invested 1Crore
3. Plan selected – Immediate Annuity Plan.
4. Ask to give benefit Illustration of mly. pension till life of policy holder after that same pension to spouse till life & after that return of purchase price to the legal heirs of policy holder.

Plz. do this exercise with at least 5-6 Ins. cos. inform me for ur findings after completing ur exercise.

Why I`m asking to do so, bcoz when u `ll go thru this exercise, u `ll come to know what the meaning of large corpus creation is? Plz. do note as per my prev. reply of retirement corpus, calculate ur own requirement as per inflation no.

Thanks

Ashal …

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