As India stands at a unique demographic juncture—with the largest young workforce globally and a rapidly growing elderly population—the conversation around retirement planning is becoming more critical than ever. With advancements in healthcare, improved lifestyles, and rising affluence contributing to longer life spans, financial planning beyond one’s working years is no longer optional but essential.
Recognising this shift, PNB MetLife has launched the Smart Invest Pension Plan under its “Circle of Life” approach. This initiative aims to help customers secure a financially stable retirement, anticipating the forecasted rise in India’s elderly population by 2050.
“India currently has the highest number of young working people in the world. However, at the same time, the proportion of elderly people is increasing at a rapid pace,” says Mohit Garg, Chief Strategy Officer & Head Products, PNB MetLife. “Retirees of today have to plan their finances well for continuing their lifestyle for 20 to 30 years beyond retirement age.”
A retirement solution designed for the digital generation
To make retirement planning more accessible, PNB MetLife has partnered with Policybazaar, ensuring the plan reaches today’s digitally-savvy customers. The Smart Invest Pension Plan targets policyholders aged 40 to 50 and offers the option of receiving an annuity at maturity. Policyholders may also receive up to 60% of the maturity amount in a lump sum*.
What sets this plan apart is its flexibility and alignment with personal investment preferences. It allows customers to choose funds based on their risk profile and provides advanced features such as:
Automatic asset rebalancing
Systematic transfer from debt to equity (and vice versa)
Unlimited switching between funds
Premium redirection
This suite of features ensures that investors can tailor the plan to meet their individual financial goals.
Customer-centric innovation across the lifecycle
For PNB MetLife, customer-centricity is more than a buzzword—it’s the cornerstone of their product design and digital strategy. With the Circle of Life philosophy guiding product development, the insurer is focused on need-based solutions that support the full spectrum of a customer’s life—from child education and marriage to retirement and wealth creation.
“PNB MetLife focuses on offering need-based solutions that transcend insurance, and address the big dreams of customers,” says Garg.
Some of the insurer’s flagship offerings include:
PNB MetLife Genius Plan, designed to help parents fund their children’s education and marriage. The plan received the Best Child Plan award in 2024.
PNB MetLife Guaranteed Future Plan, which delivers guaranteed returns for long-term financial security*.
Market-linked options with 15 top-rated funds, all holding 4-star or 5-star rankings.
Recently launched products like Smart Invest Pension Plan and GAIN are purpose-built for retirement goals.
Digital transformation that scales with the customer
Digital empowerment has been central to PNB MetLife’s operating model. As Garg explains, “99% of our customers are digitally onboarded, eliminating lengthy paperwork.” This efficiency has been driven by robust integrations across the digital value chain.
The insurer’s mobile platform, khUshi App, offers 24×7 access to self-service features, enabling policy management on the go. For those who prefer human touchpoints, the company provides service through 19,000+ bank partner branches and 155+ PNB MetLife branches, maintaining a strong offline presence.
Staying ahead of the insurtech curve
With Insurtech startups challenging traditional models, PNB MetLife is adopting a proactive digital mindset.
“The increasing influence of insurtechs has made it important for traditional insurance companies to adopt a digital mindset,” notes Garg, adding that maintaining a competitive edge in the evolving insurance landscape means tapping the latest technologies, innovation, and strategic partnerships.
Key digital-first strategies include:
Investing in digital transformation across processes and operations
Partnering with FinTech and tech startups via the ‘SPARK’ program, which fosters innovative ideas across business functions
Using data-driven decision-making for fraud detection and risk assessment
Deploying predictive analytics to personalise insurance offerings
Enhancing omnichannel customer experiences and education through advanced digital tools
By staying technologically agile, PNB MetLife is building a future-ready insurance ecosystem.
Retirement planning, a strategic imperative
PNB MetLife’s broader product strategy is clearly aligned with India’s demographic future. With the 60+ population projected to double from 156.7 million in 2024 to 346 million in 2050, the company recognises retirement security as an urgent and growing need.
The Smart Invest Pension Plan plays a key role in closing India’s retirement savings gap. It complements other offerings such as:
GAIN (Grand Assured Income Plan): Launched under the “Aapka Aage Ka Plan Kya Hai?” campaign, GAIN offers lifetime assured annuity and long-term security.
LIFT (Long Income for Tomorrow): Provides customizable income payments and family protection, giving customers the freedom to tailor plans to their life goals.
“As a growing proportion of the population approaches retirement, demand for pension products with flexible options suiting customers’ individual needs is increasing,” says Garg. “The Smart Invest Pension Plan is in line with this, offering flexible retirement planning.”
By expanding its portfolio with modern, customisable pension products, PNB MetLife is not only addressing an evolving market—but also positioning itself for long-term, inclusive growth.