Time is changing now and so the pension scheme LIC is helping the people after retirement to lead an independent life as well as a life which is financially sound. After retirement the life of the people changes and because of this you need the help of the pension scheme of LIC. The pension schemes of LIC are helping the people to plan about their life systematically after retirement. The pension scheme in LIC is in return helping the people to have a regular income after they retire from their job. Most of the parents now a day do not want to be a burden on their children and so they want to lead an independent life. The people after retirement hesitate to take assistance from anyone and want to stay of their own and so spend their time leisurely after the retirement they can go for the pension scheme of LIC.