RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Retirement Calculator

Retirement calculator is an easy to use online financial tool that helps you calculate the corpus can accumulate over a period of time with regular monthly investments or one time investments. ...Read More

Retire in Style!

Start Saving Today for a Stress-Free Tomorrow. Grab Your Retirement Plan!

Start your retirement journey with just ₹2,000/month

TALK TO OUR ADVISOR

Calculate Your Retirement Corpus

Tax savings of up to 46,500/-18

Market Linked Returns

All fields are mandatory
₹
Please enter valid country code Please enter valid mobile no

Please authorize us to contact you

OTP authentication will help us confirm your identity and secure your application

Your Mobile Number

+91 9989888811

green-check

OTP sent on your registered mobile number

OTP verified. You are being directed to a page with the plan options customized as per the details shared by you.

red-check

Invalid OTP entered. Please try again.

Please enter complete OTP

You have entered incorrect OTP more than 5 times. Please try again after 12:44 AM

Didn't receive OTP? Resend OTP

You need to start saving Rs. Rs. XXXX every month for X
You need to start saving Rs. Rs. XXXX every month for X

Rate of Inflation

4 4 15
Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

What is a Retirement Planning Calculator?

A retirement calculator India is a specialized tool designed to estimate the amount of money you need to save to live comfortably post-retirement. It provides clarity on key financial aspects, such as monthly savings required, total retirement corpus, and the impact of inflation over time.

In India, financial planning for retirement is often overlooked due to cultural reliance on family support or government pensions. With changing lifestyles, longer life expectancies, and rising healthcare costs, the role of a retirement calculator becomes even more critical to calculate your retirement corpus.

Why is having a Retirement Plan Important?

To ensure independence and financial stability in your senior years, you must have a retirement fund handy. In India where social security and retirement benefits have a weak structure, it is important to have a well-planned retirement fund to maintain your standard of life.

Inflation or rising costs is another factor in creating your retirement plan. If your savings and investments cannot beat the inflation, you have to compromise your lifestyle after retirement. However, if you start investing early, you can take advantage of compounding to create a huge corpus amount that will allow you to enjoy your current lifestyle without sacrificing your health and way of life.

Financial independence is always what an individual seeks for. Even though you may feel you will get financial support from your children, it is better to always keep yourself ready to face financial requirements on your own. Using a retirement corpus calculator enables you to easily understand how much should be saved and what amount can be considered every month to not hinder current as well as future lifestyles.

How Does Retirement Calculator Work?

One effective tool for helping people plan for a financially comfortable retirement is a retirement calculator. It calculates the amount of money you must invest and save in order to guarantee that you may continue living the way you want to after retirement. The tool combines various financial variables, such as income, savings, expenses, inflation, and investment returns, to provide a comprehensive retirement plan.

In the section below, we will explore how a retirement corpus calculator works, including the formulas, and methods for calculating your retirement corpus, and how it helps you achieve your retirement goals.

I. Formula of Retirement Calculation


The formula a retirement calculator uses is simple but accounts for different variables. Here is how it works:

  • Retirement Corpus: The amount of money you need to accumulate by the time you retire.
  • Monthly Expenses: The amount of money you will need each month during retirement to cover your living expenses.
  • Life Expectancy: The number of years you expect to live after retirement.
  • Inflation Rate:The percentage by which expenses are expected to increase each year.
  • Expected Rate of Return: The average annual return you expect to earn on your investments during the saving phase.

The formula to calculate a retirement corpus is as follows:

FV = PV*(1+r)^n

Here,

FV = Future Value

PV= Present Value

r= Expected Inflation

n= Time to Retirement

Let us consider an example to understand how a retirement calculator works.

For instance, you require a monthly income of Rs. 45,000 in retirement. You are currently 40 years old and plan to retire at 60 years of age. What is the retirement corpus you need if you invest your retirement savings in a bank FD offering an 8% yield? (Assume inflation at 6%)

Here are the steps to follow to calculate:

  • Step 1: Calculate Future Monthly Expenses

    • The formula to calculate the future value of monthly expenses by adjusting inflation is -

    FV = PVx (1+r)^n

    In this case, 

    FV stands for future value or the monthly expense at the time of retirement

    PV, or present value is Rs. 45,000

    R is the inflation rate, that is, 6% or 0.06

    N is time to retirement, that is, 20 years (60 years- 40 years)

    Hence,

    FV = 45000 x (1 + 0.06) ^ 20 = 45000 x 3.207)

         = Rs. 1,44,315

    Thus, at the age of 60, that is, at the time of retirement, the required monthly expenses are Rs. 1,44,315.

  • Step 2: Convert Monthly Income to Annual Income

    • Annual Income Required = Rs. 1,44,315 * 12 months

                                                 = Rs. 17,31,780

  • Step 3: Calculate Retirement Corpus

    • Now we need to calculate the retirement corpus necessary for generating an annual income of Rs. 17,31,780.

    Let us assume the retirement period to be 25 years, that is, from age 60 to 85.

    The rate of return on retirement corpus is 8%, with 6% inflation.

    For adjusting the rate of return for inflation, the formula to apply is - 

    Inflation-adjusted Rate of Return = [(1 + Rate of Return) / (1 + Inflation Rate)] - 1

    = [(1+0.08) / (1+0.06)] - 1

    = 1.885

    Now, let us calculate the corpus required using the Excel PV function. We use the following inputs:

    PMT = Rs. 17,31,780 (Annual income required)

    nper = 25 years

    rate = 1.885% annually (inflation-adjusted rate of return)

    Type = 1 (payment is made at the beginning of the period)

    The retirement corpus needed to generate an annual income of Rs. 17,31,780 is Rs. 3,72,89,600.

  • Step 4: Calculate Monthly Savings

    • Now, let us calculate how much you need to save every month to accumulate Rs. 3,72,89,600 by the time you retire at 60. We use the Excel PMT function for this calculation:

    PV = Rs. 0 (current savings)

    FV = Rs. 3,72,89,600 (required retirement corpus)

    nper = 20 years (from age 40 to 60)

    rate = 8% annually (rate of return)

    Using the PMT function, you find that the monthly savings required to reach Rs. 3,72,89,600 is Rs. 32,836.

    Hence, to accumulate the necessary retirement corpus of Rs. 3,72,89,600 by age 60, you need to invest Rs. 32,836 every month in a bank FD offering an 8% return. This will provide you with an annual income of Rs. 17,31,780 for 25 years after retirement.

Steps to use Retirement Calculator

  • Calculate Monthly Expenses

    Step 01

    Calculate Future Monthly Expenses

  • Convert Monthly Income to Annual Income

    Step 02

    Convert Monthly Income to Annual Income

  • Calculate Retirement Corpus

    Step 03

    Calculate Retirement Corpus

  • Calculate Monthly Savings

    Step 04

    Calculate Monthly Savings

II. Calculating Retirement Benefits Using the Retirement Calculator
 

A retirement planning calculator takes into account the following factors when calculating retirement benefits, such as pension or annuity payouts:

  • Expected Retirement Corpus: Your whole savings by the time you retire.
  • Payout Period: The number of years you expect to receive the benefits, such as 25 years post-retirement.
  • Expected Rate of Return: Certain retirement calculators make the assumption that your funds will continue to generate income in retirement, extending the lifespan of your corpus.

The calculator may calculate your monthly retirement income (annuity or pension) based on these parameters. The calculator will estimate how long your corpus will last based on predicted returns. For instance, if you have Rs. 5 crore and intend to withdraw Rs. 1.5 lakh monthly over 25 years.

III. How Does a Retirement Planning Calculator Help You?
  

A retirement calculator helps you in the following ways:

  • Clear Financial Objectives: It assists you in establishing retirement objectives that are reasonable and achievable given your income and lifestyle.
  • Flexibility in Planning: The calculator is a dynamic tool for long-term planning since it lets you make modifications in the event that your income, spending, or retirement plans change.
  • Customized Savings Strategy: The calculator creates a personalized savings strategy that includes the monthly investments required to meet your corpus target.
  • Encouragement to Save: It encourages you to adhere to your financial plan and helps you reach your retirement objectives by displaying the precise amount you must save and invest.
  • Adjustments for Inflation and Investment Returns: It provides a more accurate and realistic estimate of how much you need to save by accounting for inflation and anticipated investment returns.

Planning Your Retirement Finances

Here is a guide to effective retirement financial planning:

I. Understanding Your Financial Needs
 

The first step is assessing what your retirement might look like:

  • Lifestyle Requirements: Will you maintain your current lifestyle, downsize, or upgrade?
  • Healthcare Costs: Medical expenses tend to increase with age.
  • Other Aspirations: Consider goals like travelling, pursuing hobbies, or supporting family.

Estimate these needs in present terms, then adjust for inflation. For example, if your monthly expenses are Rs. 50,000 today and inflation is 6%, your expenses could triple in 20 years.

II. Key Financial Planning Components
 

Following are some components to consider while planning your retirement financials:

  • Emergency Fund: Create a fund that will cover 6 to 12 months' worth of expenditure. It serves as a buffer against unanticipated events like market downturns or medical problems.
  • Debt Management: To ease financial strain, pay off high-interest obligations, such as credit card bills, prior to retirement. Home loans and other low-interest loans could be reasonable if they fit your savings and income.
  • Investment Diversification: Distribute your investments among a variety of asset types, such as gold, fixed income, real estate, and stocks. Long-term profits from stocks are higher, but as you get closer to retirement, safer options like bonds and fixed deposits offer stability.
  • Risk Assessment: Analyze the risks involved with your financial investments. While retirees should concentrate on protecting their savings with low-risk choices, younger people may afford riskier investments (such as equities funds).

III. Age-Based Financial Milestones:
 

The specific retirement planning objectives and steps that people should take at various phases of their lives are referred to as age-based financial milestones. Here is what you must consider:

  • 20s (Foundation Years): Begin early with small investments to benefit from compounding.
  • 30s (Growth Phase): Increase contributions to retirement-focused instruments like PPF or NPS.
  • 40s (Peak Earning Years): Balance risk and stability while focusing on wealth accumulation.
  • 50s (Pre-Retirement Phase): Shift investments to safer options like debt funds or fixed deposits.
  • 60s (Transition Phase): Secure steady income through annuities or systematic withdrawal plans.

IV. Review and Adjust Regularly
 

Planning for retirement is a continuous process. Every year, evaluate your progress, make adjustments for changes in inflation, income, or lifestyle, and make sure you stay on course. You may create a retirement corpus that supports your objectives, safeguards your future, and gives you peace of mind by proactively managing your resources.

Retirement Plans by HDFC Life

Our top recommended solutions depending on age and goal

  • In this policy, the investment risks in the investment portfolio is borne by the policyholder

    HDFC Life Click 2 Retire

    UIN: 101L108V05

    A market linked retirement plan that helps you plan early to achieve your retirement goals.

    UIN: 101L108V05

    A market linked retirement plan that helps you plan early to achieve your retirement goals.

    Key Features*
    • Start your Retirement Plan at as low as ₹ 2000 per month
    • Maturity age starts as early as 45 years
    • Secure your retirement with Assured Vesting Benefit and also gain from upside in the market
    • Limited Pay & Single Pay – Options available in one product
    • Start your Retirement Plan at as low as ₹ 2000 per month
    • Maturity age starts as early as 45 years
    • Secure your retirement with Assured Vesting Benefit and also gain from upside in the market
    • Limited Pay & Single Pay – Options available in one product
    Check Returns Check Returns EXPLORE PLAN
    Pension Plan

  • HDFC Life Systematic Pension Plan

    UIN: 101N144V04

    A pension plan that offers flexibility to grow your Retirement Corpus as per your convenience and with an Assurance of 4% Returns on Vesting.

    UIN: 101N144V04

    A pension plan that offers flexibility to grow your Retirement Corpus as per your convenience and with an Assurance of 4% Returns on Vesting.

    Key Features*
    • Flexibility to choose your investment horizon from 5 to 40 years
    • Pay your premium at one go or over a period of time as per your convenience
    • Tax Benefits as per Income Tax Laws2
    • Receive Bonus declared by the company with an Assurance of 4% Returns on Vesting
    • Flexibility to choose your investment horizon from 5 to 40 years
    • Pay your premium at one go or over a period of time as per your convenience
    • Tax Benefits as per Income Tax Laws2
    • Receive Bonus declared by the company with an Assurance of 4% Returns on Vesting
    Check Returns Check Returns EXPLORE PLAN
    Annuity Plan

  • HDFC Life Guaranteed Pension Plan

    UIN: 101N092V16

    A deferred pension plan that is ideal for individuals who seek to plan for their retirement to receive guaranteed1 returns on their invested corpus for post retirement income.

    UIN: 101N092V16

    A deferred pension plan that is ideal for individuals who seek to plan for their retirement to receive guaranteed1 returns on their invested corpus for post retirement income.

    Key Features*
    • Guaranteed1 Additions of 3% of Sum Assured on vesting that get accrued for each completed Policy Year
    • Flexibility to choose Premium Paying Term between Single and Limited Pay (5 to 12 years)
    • A Lump Sum Vesting Addition payable at vesting
    • Guaranteed1 Death Benefit equal to total Premium(s) paid to date accumulated at 6% per annum
    • Guaranteed1 Additions of 3% of Sum Assured on vesting that get accrued for each completed Policy Year
    • Flexibility to choose Premium Paying Term between Single and Limited Pay (5 to 12 years)
    • A Lump Sum Vesting Addition payable at vesting
    • Guaranteed1 Death Benefit equal to total Premium(s) paid to date accumulated at 6% per annum
    Check Returns Check Returns EXPLORE PLAN
    Annuity Plan

Estimating Your Retirement Age

Your age of retirement depends on different financial as well as personal factors. Choosing the right retirement age helps to ensure that your savings are sufficient to support you during post-retirement life.

I. Factors Affecting Retirement Age
 

Below are some factors that affect your retirement age:

  • Lifestyle Costs:A luxurious lifestyle necessitates a larger corpus, potentially delaying retirement.
  • Life Expectancy: Longer life expectancies demand more substantial savings.
  • Healthcare Needs: Rising medical costs may influence the timing of your retirement.
  • Inflation Impact: High inflation rates erode purchasing power, requiring adjustments to retirement plans.

II. Early vs. Traditional Retirement Considerations
 

When planning for retirement, the choice between early and traditional retirement significantly impacts your financial strategy. The below discussion will help you understand the situation involved in both the scenarios:

  • Early Retirement

    • Early retirement, often before the age of 60, requires a larger retirement corpus as it extends the duration of your post-retirement phase. This implies that there may be fewer years to save and invest, as well as more years of expenditures to pay. During your working years, it also requires more monthly savings or larger investment returns. The absence of job benefits, such as pensions, which normally take effect at traditional retirement ages, must be taken into account by early retirees.

  • Traditional Retirement

    • Retiring at age 60 or later is consistent with the majority of government schemes and perks offered by employers. It permits an extended period of accumulation, which gives your assets more time to increase in value. Because pension plans and other financial safety nets, such as gratuities and EPF, are designed around this timetable, traditional retirement is frequently easier to handle.

    Overall, the decision depends on your financial readiness, lifestyle goals, and ability to sustain retirement expenses.
     

III. Working Backwards
 

To determine your required corpus depending on your preferred lifestyle, use a retirement calculator. For example, if your funds are insufficient to meet your retirement age of 55, the calculator may help you determine how much more you need to save or recommend a more reasonable retirement age.

Understanding Pension and Retirement Corpus

The foundations of financial security throughout your retirement years are a well-planned retirement corpus and a pension fund. A pension is a steady income stream that guarantees continuous financial assistance, whereas a retirement corpus is the entire amount needed to maintain your lifestyle after retirement. Here is how to determine your retirement requirements and handle pension fund forecasts.

Factors Affecting Your Retirement Calculations

Several critical factors influence your calculations on retirement planning calculators, each playing a key role in determining how much you need to save and invest to achieve financial security. Understanding these variables ensures a more accurate and realistic retirement plan. Read below to understand these factors.

Inflation Impact

Inflation Impact

Over time, inflation reduces the buying power of money, raising your living expenses. Your retirement corpus can be greatly impacted by even a moderate 6% inflation rate. For example, a monthly cost of Rs. 50,000 today can increase to Rs. 1,60,000 after 20 years. To guarantee that your investments hold their value over time, you must include inflation in your retirement planning.

...Read More

Investment Returns

Investment Returns

The returns on your assets have a significant impact on the growth of your retirement corpus. Increased returns may accelerate the buildup of the corpus, particularly from stock investments. But risk also comes with returns, and safer choices like bonds or fixed deposits could not gain as much. Returns can be maximised with a well-balanced portfolio that matches your financial objectives and risk tolerance.

...Read More

Tax Implications

Tax Implications

Taxes on your income, investment, and withdrawal can have a significant impact on your retirement funds. For instance, certain products, such as debt funds or fixed deposits, give tax-free returns, while others, like the Public Provident Fund (PPF), offer taxable returns. Organizing tax-efficient withdrawals and investments helps you maximize your post-retirement income while safeguarding your corpus.

...Read More

Life Expectancy

Life Expectancy

A longer retirement period due to greater life expectancies needs a larger corpus to cover expenditures. Your funds must last for the next 25 – 30 years you anticipate living after retirement.

...Read More

Healthcare Costs

Healthcare Costs

When budgeting for retirement, healthcare costs are frequently underestimated and tend to increase with age. Unexpected medical bills will not drain your money if you take into account growing medical expenditures and have enough health insurance.

Overall, by addressing these factors, you can make well-informed retirement calculations, ensuring financial stability and peace of mind during your golden years.

...Read More

Factors Affecting Your Retirement Calculations Factors Affecting Your Retirement Calculations

Creating Your Retirement Roadmap

A well-organised retirement roadmap ensures a safe and stress-free retirement by acting as a guide for reaching your financial objectives. To keep you on track, it incorporates crucial processes including planning, creating a schedule, establishing milestones, and conducting frequent reviews. 

Thus, here is how to make a retirement roadmap that works:

Tips to Plan an Effective Retirement

In order to secure financial stability throughout your golden years, retirement planning needs vision, discipline, and smart judgment. The following are some important tips to help you make an efficient retirement plan:

1. Start Early
 

The earlier you begin, the more time your savings have to grow through compounding. A significant corpus by retirement can result from even modest, steady contributions made in your 20s. Are you arriving late? Well, to catch up, emphasise aggressive savings and investments with better returns.

2. Set Clear Goals
 

Make sure to establish your retirement goals. Determine your ideal way of life, your expected monthly spending, and any particular objectives you may have, like supporting your family or taking a trip. Your investing and savings plans will be guided by these objectives.

3. Build an Emergency Fund
 

Create a separate fund that will cover costs for at least 6 to 12 months. This guarantees financial stability at times of need, particularly in retirement when a fixed income can restrict options.

4. Diversify Your Investments
 

Do not depend on just one type of investment. Make sure to invest in a variety of asset classes, including stocks, mutual funds, fixed deposits, and real estate. Over time, diversification maximises rewards while reducing risk.

5. Account for Inflation
 

Invest in inflation-beating securities, such as stocks and inflation-indexed bonds, to prepare for growing expenses. To calculate the effect of inflation on your future spending, use a retirement calculator.

6. Reduce Debt
 

Before you retire, pay off high-interest debts, like credit card bills. This reduces financial burden during your years off from work and frees up more funds for savings.

7. Regularly Review Your Plan
 

Financial markets and life conditions are subject to change. Every year, review your retirement plan to make sure it still reflects your changing objectives, spending patterns, and investment results.

Tips to Plan an Effective Retirement Tips to Plan an Effective Retirement

Benefits of Using a Retirement Planning Calculator

One effective tool for making financial future planning easier is a retirement planning calculator. It offers concise, useful information based on your particular financial circumstances and retirement objectives. The following are the main advantages of using this online calculator for retirement planning:
 

Clarity on Retirement Goals

Clarity on Retirement Goals

You can determine the total amount of money you need to save for retirement with the use of a retirement calculator. The calculator generates a specific number for your needed retirement corpus based on information entered, such as your present age, intended retirement age, monthly costs, and estimated investment returns. You may create reasonable, attainable financial objectives with the help of the insight from the calculator.

Helps Plan and Allocate Savings

Helps Plan and Allocate Savings

The retirement planning calculator assists in figuring out how much you must save each month to meet your goal after the necessary corpus has been determined. It makes it simpler to develop a consistent savings strategy by accounting for variables like inflation and projected returns. This keeps you continuously on course and helps you avoid shocks later in life.

Adjustments for Variables

Adjustments for Variables

Important variables like inflation, life expectancy, medical expenses, and investment returns are all taken into consideration by this tool. The calculator gives you a more precise estimate of your retirement needs by accounting for these factors. Moreover, it can demonstrate, for instance, how changes in your investment returns or increasing inflation may affect the overall amount you must save.

Encourages Early Planning

Encourages Early Planning

Making use of a retirement calculator emphasizes how crucial it is to begin early. The amount you must contribute each month will decrease the earlier you begin saving. It helps you gradually accumulate a safe retirement fund by highlighting the effectiveness of compound interest and promoting long-term saving practices.

Customization Based on Individual Needs

Customization Based on Individual Needs

You may personalize a retirement planning calculator to match your needs, taking into account things like your ideal lifestyle, medical expenses, and possible pension benefits. You can put together a retirement plan that fits your financial goals with this customized method.

Final Words

Overall, anyone hoping to ensure a steady financial future after retirement needs a retirement planning calculator. It streamlines the intricate planning process by defining your retirement objectives, calculating the necessary corpus, and directing monthly contributions. The tool offers a personalized approach to planning by accounting for important variables like inflation, investment returns, and healthcare expenses.

Moreover, using a retirement calculator can help you stay on pace to fulfil your financial requirements and have a pleasant, worry-free retirement, regardless of when you start or approach retirement. So, start planning today for a better and financially secure tomorrow.

FAQs on Retirement Calculator

1 What is a retirement calculator?

By factoring in your age, income, expenditures, and investment returns, among other things, a retirement calculator can help you estimate how much money you will need to save for retirement.

2 How much money do I need to retire in India?

With inflation on a high and interest rates consistently dipping, it is imperative to have a sizeable retirement fund. According to financial experts, a minimum of Rs. 1 crore retirement corpus is essential to lead a comfortable life.

3 Why should you plan your retirement?

It is critical to prepare for retirement if you want to feel financially stable and comfortable in your years after work. In doing so, you will better plan for the future, save more, and maximize your retirement benefits.

4 Is Rs 2 crore enough to retire in India?

Every individual has different requirements for a comfortable retirement. As a ground rule, financial experts suggest that the retirement corpus must be at least 30 times your annual income.

5 Are retirement calculators accurate?

Retirement calculators are an effective tool that help you understand the amount you must save post-retirement. This is done by taking in personal details, information related to current income, savings as well as investments.

6 How to retire in 10 years?

If you want to retire in the next decade, start by reducing your spends and increasing your income. You could take up a side hustle to supplement your primary income.

7 What is a good amount to retire with in India?

As a ground rule, financial experts suggest that the retirement corpus must be at least 30 times your annual income.

8 How can retirement planning help with my future medical expenses?

You can prepare for future medical expenses by estimating their cost, researching coverage options like Medicare, and setting aside money during retirement.

9 Where should I invest my money after I retire?

One strategy to consider after retirement is to invest in a diversified portfolio. This will allow you to retain more of your hard-earned money, increase earning potential, and decrease risk exposure. Bonds, dividend equities, annuities, and cash could all be part of this portfolio.

10 How much of my retirement benefit is taxable?

Distributions from traditional accounts and Social Security benefits are often taxable, though this varies by account type and income level. Consulting a tax expert can provide you with personalized guidance.

11 I work in a privately owned company. Should I have a private retirement plan?

Yes. If you want to make your future secure and want to get peace of mind, you should have a private retirement plan.

12 What should your Retirement Objectives be?

The main objective of your retirement is to become financially independent and to maintain the same living standards.

13 How much should you Save for Retirement?

As a thumb rule, you should save at least 15% - 20% of your monthly income for retirement. You can use a retirement corpus calculator to get a personalized result and to make necessary changes if you are following the wrong plan.

14 When should you Plan to Retire?

Traditionally, a person retires at 60 years of age and unofficially the retirement age is 65. However, the actual retirement age depends on your life expectancy, health, individual circumstances and wealth.

View More

ALL CALCULATORS


More about Retirement planning

HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular search

Popular Searches

Disclaimers

1. The word “Guaranteed” and “Guarantee” mean that annuity payout is fixed once the policy has been purchased.

5. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.

18. Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.

~ This is the return of the benchmark index fund and not indicative of HDFC Life Top 500 Momentum 50 Pension fund performance (SFIN-ULIF07702/12/24Top500MoPF101). Source:  https://www.nseindia.com/

The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year.

Life Insurance Coverage is available in this product. For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.

HDFC Life Insurance Company Limited is only the name of the Insurance Company, HDFC Life is only the name of the brand. The name of the company, name of the brand and name of the contract does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns

HDFC Life Guaranteed Pension Plan (UIN: 101N092V16) is a non-linked non-participating pension plan. Life Insurance Coverage is available in this product

This interactive does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. HDFC Life Insurance Company Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information reported by the interactive.

The information being provided through this interactive is provided for your assistance/ information only and is not intended to be and must not alone be taken as the basis for an investment decision (“Information”). The recipient/ user assume the entire risk of any use made of this Information. Each recipient /user of this interactive should make such investigation as it deems necessary to arrive at an independent decision while making an investment and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors. HDFC Life Insurance Company Limited and its affiliates, group companies, sales staff, financial consultants, officers, directors, and employees may have potential conflict of interest with respect to any recommendation, related information or opinions.

This Information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This Information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject HDFC Life Insurance Company Limited and its affiliates/ group companies to any registration or licensing requirements within such jurisdiction. The distribution of this Information in certain jurisdictions may be restricted by law, and persons in whose possession this Information comes, should inform themselves about and observe, any such restrictions. The Information given in this interactive is as of the date of this report and there can be no assurance that future results or events will be consistent with this Information. This Information is subject to change without any prior notice. HDFC Life Insurance Company Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. However, HDFC Life Insurance Company Limited is under no obligation to update or keep the Information current.

Neither HDFC Life Insurance Company Limited nor any of its affiliates, group companies, directors, employees, sales staff, financial consultants or representatives shall be liable for any damages whether direct, indirect, special or consequential including health, physical well being, lost revenue or lost profits that may arise from or in connection with the use of the Information. Past performance is not necessarily a guide to future performance.

ARN - MC/12/24/18669