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Glossary
An immediate annuity converts a lump-sum payment into a regular pension income that starts almost right away, typically within a year of purchase.
Pay a lump sum once, and start receiving a regular pension income almost immediately.
Common at NPS annuitisation and retirement; the payout rate depends on age, annuity type (life only, with return of purchase price, joint life), and prevailing interest rates.
At retirement, an NPS subscriber uses part of the corpus to buy an immediate annuity that starts monthly payouts right away.
Pay a lump sum once, and start receiving a regular pension income almost immediately.
Immediate Annuity helps you evaluate products, compare options, and make informed decisions aligned with goals, tax rules, and risk tolerance in the Indian financial system.