{"id":71,"date":"2023-10-15T05:25:39","date_gmt":"2023-10-15T05:25:39","guid":{"rendered":"https:\/\/www.qropsdirect.in\/blog\/?p=71"},"modified":"2025-02-03T17:05:07","modified_gmt":"2025-02-03T17:05:07","slug":"qrops-lics-new-jeevan-shanti-plan-hmrc-approved-plan","status":"publish","type":"post","link":"https:\/\/www.qropsdirect.in\/blog\/2023\/10\/15\/qrops-lics-new-jeevan-shanti-plan-hmrc-approved-plan\/","title":{"rendered":"QROPS LIC\u2019s Jeevan Shanti – HMRC Approved"},"content":{"rendered":"
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QROPS LIC\u2019s Jeevan Shanti<\/figcaption><\/figure>\n

LIC\u2019s New Jeevan Shanti is a <\/span>popular annuity plan designed for financial security in retirement<\/span><\/a>. It offers the option of purchasing a deferred annuity and requires a one-time lump sum payment. The plan ensures regular annuity payments throughout the annuitant\u2019s lifetime, making it an excellent choice for retirees looking for guaranteed income. When combined with QROPS, LIC\u2019s Jeevan Shanti becomes an ideal solution for NRIs transferring their UK pensions to India.<\/span><\/p>\n

Why Choose QROPS LIC\u2019s Jeevan Shanti?<\/b><\/h4>\n

A deferred annuity plan, like LIC\u2019s Jeevan Shanti, <\/span>can be a smart financial move for securing a steady post-retirement income<\/span><\/a>. For individuals considering transferring their UK pensions through QROPS, this plan offers unique advantages. Let\u2019s explore why it\u2019s worth considering.<\/span><\/p>\n

Retirement income for life<\/b><\/h4>\n

One of the key reasons to opt for QROPS LIC\u2019s Jeevan Shanti is its ability to provide guaranteed retirement income. During your working years, you can transfer your pension and invest in this plan. Over time, the funds accumulate and are converted into regular payouts, ensuring financial stability during retirement.<\/span><\/p>\n

Tax-deferred growth<\/b><\/h4>\n

The plan allows your investment to grow tax-deferred during the accumulation phase. This means no taxes are levied on dividends, interest, or capital gains while your funds grow. For those transferring their pension through QROPS, this feature ensures better long-term growth of retirement savings.<\/span><\/p>\n

Flexibility in investment<\/b><\/h4>\n

QROPS LIC\u2019s Jeevan Shanti offers flexibility in how funds are invested. While the plan requires a lump sum payment, its structure makes it suitable for those consolidating their UK pensions. This makes it easier to align the plan with your financial goals and retirement needs.<\/span><\/p>\n

Lifetime income protection<\/b><\/h4>\n

A significant benefit of LIC\u2019s Jeevan Shanti is the lifetime income it guarantees. By investing your transferred pension through QROPS, you gain peace of mind knowing you won\u2019t outlive your savings. The plan protects against longevity risks, which is crucial for a stress-free retirement.<\/span><\/p>\n

Additional advantages of QROPS LIC\u2019s Jeevan Shanti<\/b><\/h4>\n

The plan offers several unique features:<\/span><\/p>\n