Retirement Planning Calculator & Pension Calculator Online
In Past, some year ago only government employees were gotten pension after getting retirement and of course, it was a very much big amount that will become boon to employees’ children. But as in a competitive market, all people thinking about getting pension after passing from struggling job life. So many banks and private sector finance companies came forward to provide pension to those employees who are not government employees. They set up some basic plans with Retirement Calculator according to all type of salary structure lower to higher so that, every employee should get pension planning.
About Retirement Calculator?
There are multiple companies and private sector finance companies introduced nowadays for giving retirement pension plans to their valuable customer. They introduced Online Pension calculator to facilitate their customer so that employee can calculate their future pension plan according to their plan. In that retirement calculator employee will came to know that how much amount will get in the future after retirement by investing how penny amount monthly from their salary. HDFC, BankBazaar, Kotak Mahindra, Axis Bank, many companies started providing this service. Day by day a huge amount of customer taking interest to get this facility of the retirement pension plan.
There is numerous Retirement Calculator available online so that you can calculate online pension plan. It is very easy to calculate your future pension by providing little information about yourself. I would like to share some basic information which you will have to fill in the online retirement pension calculator. Commonly almost all retirement calculator will ask about as below.
- What is your current age?
- At what age you want to get retirement?
- Your annual income?
- Annual income growth rate?
- How much savings did you want to do?
- In which system are you going to invest?
- Your expenses category wise
By providing this little information of yourself you will get the perfect rate of inflation and interest rate.
How to Use Retirement Calculator Online?
Let’s see about how to use this Online Pension calculator to calculate your monthly required investment about for your desired pension amount which you will get after your retirement. I would like to take HDFC pension calculator for giving you brief information. Please follow this step by step guide by taking one simple live example of how to use Retirement Calculator.
- First, you have to visit HDFC retirement calculator
- While after landing on the page by visiting the above link you will see this type of screen. As shown in image enter your current age and Desired retirement age. Interesting this is that here you can set your retirement age by yourself in comparison of a government employee who cannot set their retirement age.
- By clicking proceed you will go to the next page where you have to enter Your annual income and annual income growth rate as shown in below image.
- Then in next page, you will have to enter details like how much you can saving for your pension plan and in which system you will going to invest like weather stock market, mutual funds or fixed deposit as shown in below picture.
- After then you will go to another page where you will be asked for your monthly expenses and types of the category where you expense and how much. You have to fill approx. amount how much your expenses in categories like monthly bills, Transport expense, food expense, Lifestyle expenses, clothing expenses, and medical expenses as shown in below screenshot.
- After clicking on “calculate result” you will get summarised information which indicated how you have to make savings for how long period to meet your desired amount of pension.
What are the Best Retirement Plans?
There are few best retirement plans that you should go for it. Here I would like to share some best retirement plans in brief.
1. HDFC Life Click 2 Wealth:
As we all know about increasing expenses day by day. So, by considering that in future we all should get a retirement pension plan in which HDFC Life Click 2 Wealth retirement insurance plan is best according to me. It can vary person by person. Here the reasons why you need to avail this plan:
- It has the potential of benefiting of returns from the market
- To achieve your desired goal, safeguard the wealth created
- You can secure your child’s or spouse future by premium waiver option
- You can plan your retirement life with a golden year benefit option
- You can avail flexibility to switch between 8 different Funds
Key Benefits of HDFC Life Click 2 Wealth plan:
- Maturity benefit
- Death benefit
- Fund boosters
- Partial withdrawal
- Settlement option
- Systematic Transfer Plan (STP)
2. HDFCLife Click2Protect 3D Plus:
First of all, I should like to share reasons that why you should choose HDFC Life Click 2 protect 3D plan. It has some interesting features which are attracting people to buy this retirement pension plan.
- It covers the whole life of the customer
- It facilitates of lumpsum pay-out on the death and another diagnosis of illness
- Also, survival benefit available in select option
- There is 9 plan option available with w additional riders
- Customer will receive continues monthly payment after getting retires to get financial stability
- Also, in case of accidental permanent disability and critical illness, you will have a waiver of premiums.
3. HDFC life click 2 protect 3D plan have 9 plan option:
- Life option: in case of accidental permanent disability, the policyholder will get a total lump-sum amount as this plan designed accordingly.
- Extra life option: If policyholder death, then-nominee will receive an additional sum assured. Because accidents are totally unpredictable realities.
- 3D Life option: This plan includes to pay the lump-sum amount on death or critical illness includes 34 diseases.
- Return of premium option: If the policyholder survives to the end of this plan then they will be providing total sum assured and extra lump-sum amount in case of illness or permanent disability.
- Lifelong protection: As its name suggests, the holder has to invest money till the age of 75 years, then after still, they will get premium for whole life, and also if policyholder got permanent disability and critical illness, lump-sum waived off at a time.
- 3D Lifelong protection: In addition to life-long protection option, it covers almost all 34 critical dieses and wavier off the lump-sum amount from the premium amount.
- Income option: In this option, the nominee will get monthly income to get financial stability or increasing monthly income depends on the plan taken by policyholder. Also, it waived off all premium benefit in case of death of critical illness.
- Extra life Income option: there is also a system that includes partly lump-sum provide and partly as monthly income in case of death and permanent disability.
- Income replacement option: It ensures that nominee will get a monthly income in other one’s absence and also nominee will get 12 times extra income in case of accidental permanent disability.
Why should you Plan for Your Retirement?
As I told before in past time only government employee was availing the benefit of the retirement plan. But nowadays everyone can take this benefit from their regular salary. Accidents are almost unpredictable, while in that case, their family member will have to face many problems. So, for their security reason, one has to take a retirement plan from this exciting best retirement plan as I mentioned above. Also, to keep experiencing a better life as they live now, it is important to take this retirement plan.
There are numerous reasons which indicate that we should plan for retirement. Because no one knows at which time what types of problems occur to you or your family. As we go for retirement plan it will cover your illness, accidental death, accidental permanent disability, in all cases if anyone has a retirement plan then they can stay stress-free and can enjoy their retirement life. Many people worked hard to save money for the whole life and forget to get enjoy and give quality time to their family. But if they have already planned for retirement then they can enjoy in their retirement life stressfully.
In the above section given details of retirement plan calculator, from use of this calculator anyone can plan for their retirement plan from their recent age. They can plan for the top notch plans available from the different companies available in the market who giving retirement plans. There are many companies who will help you to plan for retirement by providing best retirement plans with its exclusive terms and conditions and many other best offers like SBI bank, HDFC BANK, BankBazaar, etc. The person should go for plan his retirement plan for securing itself and their family member too.
How much Income to Save for Retirement?
All of the people who are thinking to take retirement plan, the same question came into their mind first is How much income to save for retirement? Forgetting answer to this question they have to visit HDFC website and navigate to the page where Retirement Calculator is available. By using this calculator anyone can predict their retirement pension by fixing their per month investing amount from their salary. In the calculator, it will predict how much amount you have to invest per month for how much time to get your desired retirement pension amount in your retirement life. Also, there they will get exclusive retirement plan recommended by HDFC life insurance company. As I have given example above section if you are highly paying the salaried person and if you can invest approx. Rs.18,000 per month till 27 months from 22-year-old age then you will get almost around Rs. 3.1+ crore after your retirement and extra benefit as per retirement plan is taken from HDFC Life insurance. The monthly investment amount will depend upon what age you start planning and how much amount you can monthly invest and at which age you want to get retired. All these 3-parameter considered in retirement calculator for forecasting your retirement plan and you can assume that how much amount that should be invest per month from your salary.
What should be the Ideal Retirement Age?
According to the Indian government, the ideal retirement age should be 60 years. At the age of 60 years, any government employee retired by the government. But according to me to live the best retirement life, one should get retirement at the age of 50-55 years, so that they can enjoy and travel in the retirement life. The ideal age for planning for a retirement plan is 25-year-old. You should start retirement planning at the age of 25 so that you can get retirement at the age of 50-55 years old. It is best to plan for retirement.
By reading this full article, you may have got perfect information about online retirement pension calculator and many other details like About Retirement Calculator and how to use it. Then you have also you may have information about the best retirement plan from HDFC Life insurance.
Sudha is the senior publisher at Finance Glad. Sudha completed her education in BBA (Bachelor of Business Administration). She lives in Chennai. She is currently heading towards the banking topics. Sudha is an expert in analyzing and writing about most of the banks and credit card reviews. Sudha main hobbies and interests are reading, writing and watching the quality stuff over the internet. She usually wants to learn more productive stuff and share the best information to her readers over the internet via Finance Glad.