LIC Of India: A Comprehensive Case Study

Abstract

“You Save, We Secure Peaceful Retirement”, LIC Pension Fund Limited

A pension is a way to save for old age and provide a steady income after we stop working. Dr. Manickam, CEO, and LIC-PFL The fact that very few institutions in India, including the government and state-owned businesses, provide pension plans has led many to believe that more people should be able to save for them. Even in the public sector, defined benefit plans have largely replaced guaranteed pensions. The availability of a pension is becoming an increasingly critical factor in ensuring a comfortable retirement, particularly in a volatile, uncertain, and complex (VUCA) society. When parents retire and their children move out, leaving them to fend for themselves, it's important to have a plan in place to make sure they have a stable income to keep things running smoothly.Instead than relying on other people, it's smart to put money aside for retirement. Life after retirement is like a second act, and it ought to be smooth sailing. After retirement, having a pension may greatly simplify life.