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Purchase annuities in a staggered manner to get a better rate of return

Buy plans that do not have return of purchase price option, at a later age, to get a better rate of return

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Investments | Financial planning | Pensions

Sanjay Kumar Singh  |  New Delhi 



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By delaying your purchase of annuities to a later age, you can free up a considerable portion of your corpus for emergency needs, or to invest in equities for countering inflation

Immediate annuity plans of insurers are currently offering relatively attractive rates of return. The rate for 60-year-olds with the return of purchase price (RoPP) option, where the principal is returned on death, is 5.55-6.37 per cent. The without RoPP option plans offer even better rates of 7.23-8.49 per cent. Experts say these are reasonably good rates to lock into at a time when (FDs) from the State Bank of India (SBI) are offering senior citizens 5.5-6.2 per cent for the 1-10-year tenor.

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First Published: Thu, January 14 2021. 06:10 IST

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