Dekut - Which Pension Plan is Best in LIC A pension plan is a popular product and is also offered by LIC to help its customer in planning their retirement in a better way. Pension plans are retirement oriented plans. LIC pension plans help to create a retirement corpus and provide you with a regular and steady source income even after your retirement. There are two types of Pension plans- Deferred Annuity plans and Immediate Annuity Plans. Tue, 04 Feb 2020 11:26:14 UTC en