• Regular income
The basic need for retirement planning is to secure regular monthly income during retirement. As every human being wants that the source of income should continue until the person or person’s dependents are alive. Retirement Planning is important so in the old age, the standard of living is well maintained . Also, it gives him mentalpiece that he will continue to live with dignity after retirement.
  • Meet immediate financial needs on retirement and thereafter
Even though the primary need is regular income. But, there are instances that immediately at retirement people need lump sum money; to meet any of the following needs:
  1. Repayment of debt if any
  2. If the person does not possess a house till retirement than he might be willing to buy one
  3. If the person possesses house than meeting furnishing requirement etc
  4. Or, for the hospitalisation for any illness
Even if above mentioned conditions does not arise then also some liquid cash to be kept for emergency.
  • Take care of Inflation-
We have to consider the fact that the amount of money required by us at present will not be sufficient in future. As inflation will increase over a period of time. Thus, the person should well plan in advance so with increasing inflation the basic requirements should not suffer.
  • Take care of Medical Emergency
The another reason due to which it is important to get the Retirement planning done is meeting Medical emergency needs. Cost of medical expenses is one of the biggest problems faced in retirement planning. To overcome medical emergency   one needs physical support and financial support. And the cost of health care services is increasing day by day. Thus, a good retirement planning should also aim at providing regular income as well as lump sum money requirements to deal with medical emergency.


Retirement Planning is very crucial aspect and quite a vast topic. Thus, for ideal retirement planning it is divided into the following parts:
  • Analysis of the personal information
For ideal retirement planning it is necessary to be aware of the following income factors in advance:
  • What kind of living standard is to be maintained after retirement?
  • Is there any other responsibility to be fulfilled in terms of family and dependents?
  • What is your capacity to save from regular income towards retirement planning?
  • What is the estimated life expectancy after retirement? As with improved medical facilities Life expectancy ratio has improved. Also, it will continue to keep on improving with time.
  • Is there any provision for medical emergencies like hospitalisation, accident etc. for retirement?
Based on the answers of the above questions you will get the actual picture and will be able to plan better.
  • Existing resources available
For Retirement needs calculation you are also required to know list the resources that are available to client. Such as:
  • Is there any pension benefit that you will receive?
  • What will be the amount of gratuity and Provident fund due?
  • Is there any personal saving till date?
  • What is the amount of Life Insurance policy and annuity, if any?
  • Is there any other source of retirement income? Like rental income, sale of Property etc.
Such information is quite crucial for retirement planning.
  • Product option available for Pre-retirement & Post-Retirement-
The following Product options are available for you to choose from. Based on the type of risk the person is take and the time that is left for the individual to plan for retirement. Product types are as follows:

Pre-Retirement Products-

These products help in accumulating of wealth till the time you are working.
  • EPF
  • Gratuity
  • Leave Encashment
  • NPS
  • Mutual Funds
  • Pension Plans from Life Insurance Companies
  • Government Bonds
  • Fixed Deposits
  • Postal Schemes
  • Equity shares
  • Gold funds
  • Real Estate

Post-Retirement Products-

  • Monthly Income Schemes
  • Senior Citizen Saving Schemes
  • Annuity Plans
  • Liquid & Debt Funds with monthly dividend option
  • Rental Income from Real Estate