Saral Pension Yojana is a straightforward pension plan started by the Insurance Regulatory and Development Authority of India (IRDAI) to make pension schemes easy to understand and accessible for all Indian citizens. This plan sets clear and consistent rules for all insurance companies, so you get the same benefits and terms no matter which company you choose.

About Saral Pension Yojana 2025
In India, many insurance companies offer different pension plans with their own rules, which can be confusing. To fix this, IRDAI has told all insurance companies to start the Saral Pension Yojana from 1 April 2024, with simple and consistent rules. This means if you buy the plan from any company, you will get the same benefits and terms.
You can buy the Saral Pension Yojana 2025 either online or offline. The minimum yearly pension (annuity) under this plan is ₹12,000, and the minimum monthly investment is ₹1,000. This plan is available for people aged between 40 and 80 years, with no limit on how much you can invest.
Options in Saral Pension Yojana
- Life Annuity with Return of Purchase Price: You get a pension during your lifetime. After your death, the purchase price goes to your nominee.
- Joint Life Option: This option covers both husband and wife. The pension continues to the surviving spouse. After both pass away, the nominee gets the purchase price back.
Details of Saral Pension Yojana 2025
Scheme Name | Saral Pension Yojana |
Launched By | Insurance Regulatory and Development Authority of India (IRDAI) |
Beneficiaries | Citizens of India |
Objective | To offer pension plans with simple, clear, and consistent terms to all citizens |
Official Website | To be launched soon |
Year | 2025 |
Application Mode | Online / Offline |
Start Date | 1 April 2024 |
Loan & Surrender Facility | Available |
Purchase Price | Based on annuity |
Understanding Annuity under Saral Pension Yojana
Annuity means the yearly amount paid to you by the insurance company after your investment. Under Saral Pension Yojana 2025, you can choose to get your annuity monthly, quarterly, half-yearly, or yearly. You pay a purchase price once, which is returned 100% to your heirs after you and your spouse have passed away. The pension is paid your whole life, and after your death, your spouse gets it.
Minimum Annuity Amounts
Frequency | Minimum Amount |
---|---|
Monthly | ₹1,000 |
Quarterly | ₹3,000 |
Half-Yearly | ₹6,000 |
Yearly | ₹12,000 |
Loan and Surrender Facility
After 6 months of buying the policy, you can take a loan against this pension plan by paying interest. If you pass away, your spouse can also take a loan. If you or your family faces serious illness, you can surrender the policy after 6 months and get 95% of the purchase price back. Any unpaid loan will be deducted from this amount.
Purpose of IRDAI Saral Pension Yojana 2025
This plan aims to remove the confusion people face when choosing pension plans. By setting simple and same rules for all insurance companies, it helps you understand and pick the best option easily. It started across India from 1 April 2024 with the same terms for all companies.
Benefits and Features
- Started by IRDAI for easy pension planning.
- Available from 1 April 2024 for all insurance companies.
- Consistent and clear rules for all companies.
- Same terms no matter which company you choose.
- Offers annuity payment options (monthly, quarterly, half-yearly, yearly).
- 100% purchase price is returned to heirs after the customer and spouse pass away.
- Loan option available after 6 months of purchase.
- Surrender option gives back 95% of purchase price in critical illness cases.
Eligibility Criteria
- Must be a permanent resident of India.
- Age should be between 40 and 80 years.
Required Documents
- Aadhar Card
- Bank Account Details
- Ration Card
- Residence Proof
- Income Proof
- Passport Size Photograph
- Mobile Number
How to Apply for Saral Pension Yojana Online
- Visit the official website of the insurance company or bank.
- On the home page, click on the Saral Pension Yojana option.
- Click ‘Apply Now’.
- Fill the application form carefully with your details like name, age, and mobile number.
- Upload all important documents.
- Submit the form.
How to Apply Offline
- Visit the nearest insurance company or bank office.
- Get the Saral Pension Yojana application form.
- Fill the form carefully with all required details.
- Attach all necessary documents.
- Submit the form at the office.
By following these steps, you can easily apply for the Saral Pension Yojana and secure a steady pension plan with simple and clear benefits.