Bimadeals » Pension Plan

Pension scheme to offer 8.6% assured return option

bhavana — Tue, 20 Dec 2011 06:16:22 +0000

The government has secured the support of BJP on the bill to reform the pension sector by agreeing to the main opposition’s demand that the scheme offer a minimum assured return and foreign investment be capped at 26%.

The new pension scheme (NPS) will offer an option for an assured return of 8.6% for investments in government bonds, while subscribers willing to take a higher degree of risk can look at other choices, where their contributions are invested in a mix of private and government placements.

An understanding over the Pension Fund Regulatory and Development Authority (PFRDA) Bill was arrived at a meeting on Monday between finance minister Pranab Mukherjee and BJP leaders L K Advani, Arun Jaitley, Sushma Swaraj and Yashwant Sinha in Parliament. However, no consensus was possible with regard to the Companies Bill.

This is the second occasion on which the government and BJP have cooperated on the PFRDA Bill that seeks to give statutory cover to the NPS in force since 2003. The bill was introduced in Parliament in the face of Left resistance with BJP’s backing and now its prospects of passage seem bright and it may be moved on Wednesday.

The terms of the deal are on the lines of the recommendations of the parliamentary finance standing committee that did not agree with the Centre’s proposal that foreign investment in pension funds be raised to 49%, and also called for an assured rate of return, arguing that senior citizens should be given security on their investment.

The panel was also critical about the mediocre performance of the fund so far and the relatively low number of subscribers. While the government looked uncertain about the bill last week, Mukherjee’s renewed bid for an agreement has borne fruit. BJP also seems prepared to be more accommodative towards Mukherjee, who the party feels is not needlessly combative towards the opposition.

Click here to apply Pension Plan

Passage of the pension bill will be an important gain for the government after the reverses it has suffered over reform initiatives like FDI in multi-brand retail apart from the finance standing committee turning down proposed changes in the banking laws that would have given private investors voting rights equal to their investment.

On the Companies Bill, UPA conceded BJP’s demand for allowing Limited Liability Partnership that would enable a group comprising only professionals from a category like chartered accountants or company secretaries to form their own company.

But the government has proposed so many changes to the bill – already scrutinized by a House panel – that it is now looking very different.

[Source- ET]

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Aviva Retirement Plan | Apply Aviva India Pension Plan

bhavana — Fri, 28 May 2010 08:23:42 +0000

The Pension plan is specially planned to protect the life after retirement. The Retirement policy gives gorgeous returns better by the loyalty additions throughout the maturity additions and the policy term.

Following are the Retirement Plans offered by Aviva Life Insurance.

Retirement Plans

Aviva Secure Pension

Aviva Pension Plus

Aviva Pension Elite

Aviva Secure Pension: It also offers guaranteed additions to the sum assured in the first three years of the policy.

Aviva Pension Plus: It also comes with the opportunity to invest in high growth sectors such as PSU or infrastructure in addition to the index II fund.

Aviva Pension Elite: This policy also lessens the risk of market instability with investment options such as STP options or AAA of the 6 unit linked funds.

Know about the more information about pension. Click Here.

Aviva Life Insurance

Unit Linked Pension Plan

Retirement Calculator

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Kotak Retirement Plan | Pension Plan from Kotak Life Insurance

bhavana — Thu, 27 May 2010 08:46:33 +0000

Kotak Retirement Plan is a complete retirement plan key that removes the doubts of the retired life. This insurance plan can basically be called a retirement explanation. This insurance plan is a unit linked plan which is especially designed to assure a future free of the doubts and the tensions.

Following are the Retirement Plans offered by Kotak Life Insurance.

Kotak Secure Retirement Plan: This policy comes with a guarantee seal. Te fund alternative assure that the investments carry on growing over years while getting attractive returns.

Kotak Retirement Income: This policy gives the facility to like the unlimited upside with capital protection.

Kotak Long Life Secure Plus: It gives you the double-benefit of wealth making in the long term and security for your loved ones.

Kotak Long Life Wealth Plus: Kotak Long Life Wealth Plus is a smart investment plan that helps you to make your future net worth with power-packed features that actively observe and manage your investment growth.

Kotak Retirement Income Plan: The Kotak Retirement Income Plan is a savings plan planned to meet your post-retirement requirements. It is a plan that gives you “Jeene ki azaadi”.

Kotak Second Innings Plan: Kotak Second Innings Plan is a retirement key that ensures maximum allocation of your premiums.

Know more about Pension Plan. Click here..

Kotak Life Insurance

Unit Linked Pension Plan

Retirement Calculator

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Unit Linked Pension Plan & Unit Linked Insurance Plans

bhavana — Tue, 25 May 2010 11:07:39 +0000

Unit Linked: Unit linked Plans are attempts to meet all your financial & insurance requirements through a single non participating product.” What’s additional you get market linked returns which in the long term has always provide to give better returns than traditional investments products”.

Bajaj Allianz Unit Linked Pension Plan:

New Unit Gain Easy Pension plus RP: A unit linked pension plan exclusive of life cover. It has regular premium payment method. An option to take a tax-free lump sum up to 33% of Sum Assured.

New Unit Gain Easy Pension plus SP: You can invest in some six funds. With 3 free switches each year. Also open market alternative: Purchase instant annuity from Bajaj Allianz Life Insurance or any other life insurer.

HDFC unit linked Pension Plan :

· HDFC Pension Super – HDFC Pension Super is Unit Linked plan, planned to provide a post-retirement income for being with the freedom to decide your retirement day.

· HDFC Pension Supreme – The HDFC Pension Supreme is Unit Linked plan, this insurance plan give you with a wonderful investment opportunity to maximize your savings by provided that you a choice of systematically researched and preferred investments.

· HDFC SL Pension Champion – The HDFC SL Pension Champion is Unit Linked plan, you will accept the accumulated value of your resources, which will be used to give you with the pension income in your golden years.

· HDFC SL Unit Linked Pension Maximiser II – It is a single premium unit linked plan which helps you with generating returns for your post retirement days.

ICICI Unit linked Pension Plan:

ICICI Pru LifeTime Pension Maxima – ICICI Pru LifeTime Pension Maxima, a regular premium, unit-linked pension plan. This plan offers you the flexibility to invest in unit-linked funds that make potentially top returns more the long term.

ICICI Pru LifeStage Pension Advantage – This insurance policy also provides you with a single lifecycle-based investment plan that constantly re-distributes your money.

ICICI Pru Elite Pension II – It is a regular premium paying, unit-linked pension product that offers potentially high returns above the long term.

ICICI Pru Assure Pension – A retirement plan provides you an income to benefit from an easy lifestyle even after you stop working.

Kotak Life Unit Linked Plan:

Kotak Long Life Secure Plus – Kotak Long Life Secure Plus is a unit-linked plan that ensures your savings and gives maximum protection to safe your family’s future and their financial freedom.

Kotak Retirement Income Plan – It is plans that provide you “Jeene ki azaadi“. It gives you the option to stay independent even after retirement.

Kotak Second Innings Plan – Kotak Second Innings Plan is a retirement resolution that ensures highest allocation of your premiums.

Max NewYork Life Unit Linked Pension Plan:

Max New York Life SMART Invest™ Pension Super – Is an inclusive unit linked pension plan to meet your post retirement financial requirements.

TATA AIG Unit Linked Pension Plan:

Tata AIG Life Apex Pension – It is a plan that allows your retirement investments to take benefit of high returns in a positive market situation while safe-guarding your investment during any recession.

Tata AIG Life InvestAssure Swarna Jeevan Plus – This plan helps you to invest your money, make and increase your capital and you can look forward to a regular income after you retire.

Tata AIG Life InvestAssure Future Plus – It is a unit-linked pension plan with a single idea to protect and multiply your happiness even after you stop working.

Reliance Life Unit Linked Pension Plan:

Reliance Total Investment Plan Series- II Pension – This is a Single premium unit linked pension plan with options to buy the same plan with reduced allocation charges in succeeding policy years.

Reliance Super Golden Years Plan – A retirement plan that allows you to save systematically and make the much-required corpus to make your olden years look golden.

Reliance Super Golden Year Plan – Value – Is a unit linked pension plan which helps you make a wealth for your post retirement time.

Reliance Super Golden Year Plan Plus – It is a retirement plan that allows you to save systematically, make up the much wanted corpus to make your golden years.

ING Vysya Unit Linked Pension Plan:

ING Future Perfect – This plan provides an opportunity for having high protection in previous years when you and your family require it the most.

ING New Golden Life – Its offers you the ideal solution that will help you understand the retired life of your choice.

Met Life Unit Linked Pension Plan:

Met Growth Super - It is specially planned to offer financial security for your future requirements.

Met Pension Plus – Met Pension Plus a Unit Linked Pension Plan (Non Par), a plan that provide you this independence to help you achieve your aspirations by giving you return on investment and an prospect to venture out in life.

Bharti AXA Unit Linked Pension Plan:

Bharti AXA Life Dream Life Pension PLUS – A unit-linked pension plan that allow you live your retirement life presently the way you want to!

Shriram Life unit linked Pension Plan:

Shriram Pension Plan II – Your funds are invested in the marketplace to give way better returns to help you with your post retirement requirements.

IDBI Fortis Unit Linked Pension Plan:

Retiresurance Pension Plan – IDBI Fortis Retiresurance Pension Plan is a successful instrument that will help you complete this objective.

Sahara Life Insurance Unit Linked Pension Plan:

Sahara Swabhimaan – The Unit Linked Pension Plan being presented is a unique combine of risk coverage and market linked returns to provide the needs of old age.

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ICICI Pension & Retirement Plan India

bhavana — Sat, 22 May 2010 11:02:45 +0000

Why is retirement planning important?
A retirement plan is a guarantee that you will continue to earn a fulfilling income and enjoy a happy lifestyle, even when you are no longer operational. To understand why a rising number of individuals have already in progress planning for their retirement.

How to plan for retirement?
5 simple steps to reach your destination at a perfect retirement plan

Step 1: Decide how much income you require to live happily in your post-retirement years. Remember to take into account aspects like better medical costs, vacations and gifts for family, but decrease costs like children’s education and rent, if you own your home. Use our easy price raises Index Calculator to calculate the impact of price rises.

Step 2: Determine how much you need to save frequently, starting nowadays. Use our Retirement Calculator to decide how large a kitty you will require and how much you need to save every year.

Step 3: choose the right retirement plan that enables you to meet your post-retirement requirements. If possible invest in market-linked plans, which can provide you with potentially superior returns in the long run. Our Life Stage Profiler will help you select the plan that meets your criteria

Step 4: Start saving now so you have time on your surface and can enjoy the power of compounding. Use our easy control of Compounding Calculator.

Step 5: Systematically invest a fixed amount each month for your post-retirement years.

Retirement Products:

Plan Name	Plan Type
ICICI Pru Life Time Pension Maxima	Unit Linked
ICICI Pru LifeStage Pension Advantage	Unit Linked
ICICI Pru Elite Pension II	Unit Linked
ICICI Pru Assure Pension	Unit Linked
ICICI Pru Forever Life	Traditional
ICICI Pru Immediate Annuity	Traditional

ICICI Prudential Life Also Deals in Other Products. Click to Know More and Apply

ICICI Prudential Life Insurance
ICICI Pru Pinnacle
Retirement Calculator

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Pension Plans

bhavana — Sat, 13 Mar 2010 07:01:55 +0000

Can you think of any person who does not want to get out of the rat race? Everyone enjoys their work, the busy schedule, the pressure of making ends meet but doesn’t that make it all the important to plan your retirement? Are you not entitled to enjoy the old age when you have been working to provide for your family for so many years?

OFCOURSE you are.

All you need to do is follow few simple steps:

Choose age at which you would like to retire.
Estimate how much you need to save.
Evaluate the options available.

PLAN	Features	Utility	On vesting
Traditional Pension Plans	Charges are hidden	For risk-averse investor	At desired age: Regular investments stop and pension starts
	Returns based on bonuses	For no market-linked return seekers	Up to 25 or 33.33 per cent of the corpus can be withdrawn tax-free
	Flexibility is low		You can get pension for your lifetime
	Investments required till vesting age		Other pension options are also available
Unit-Linked Pension Plans	3-10 fund options; Max. 100 per cent in equity	If you want to invest in equities over the long term	At desired age: Regular investments stop and pension starts
	Returns are market-linked	If you are looking for flexibility	Up to 25 or 33.33 per cent of the corpus can be withdrawn tax-free
	Flexibility is high		You can have pension for your lifetime
	Life cover is optional		Other pension options are also available

Besides these there are New Pension System (NPS) and Pension Plans (Mutual Fund) also available to pick and choose.

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SBI Life-Horizon II Pension

bhavana — Fri, 26 Feb 2010 08:54:35 +0000

The SBI Life-Horizon II is a safe and hassle free Pension Plan that offers high returns. It is a unit linked plan which helps in creating a safe, secured and financially peaceful retired life. The unique feature of this plan is that the automatic asset allocation which enables easy growth of the money of the customer.

Features of SBI Life-Horizon II Pension are as follows:

SBI Life-Horizon II pension plan is the most simple unit linked plan. Here the customer just needs to choose the retirement date, plan option and regular premium amount to get this policy.

Depending on the plan and the term option the policy will invest the money in the different funds like, Equity Pension Fund, Bond Pension Fund and Money Market Pension Fund.

The funds are invested keeping in point term opted and the amount of money invested and thus keeping in security the approaching policy maturity.

Under this plan two options are available namely, Pure Pension and Pension cu Life Cover.
This plan saves tax u/s 80 CCC (1) of IT Act.

No medical test or documents are required to enroll for the policy.

No premium allocation charges are required to pay from 11th year onwards.

15 days free look period from the date of reception of the policy is available under this plan.

No riders are available under this policy.

Benefits of SBI Life-Horizon II Pension are:

Retirement Benefit

At the age of retirement the policy holder gets a choice to withdraw up to 1/3rd of the fund value in lump sum as and according to the latest tax laws. The remaining amount can be used to buy annuity from SBI or any other Insurance provider.

Death Benefit

In the event of the death of the policy holder under Pure Pension the nominee will receive the fund value and in case of pension with life cover the nominee will receive fund value along with the sum assured deducting the mortality charges.

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Retirement and Pension Benefits

bhavana — Fri, 26 Feb 2010 08:17:28 +0000

There is a different Pension Plan for policemen. Following are the pointers

1. A minimum of 10 years service is required for getting into a pension group.

2. Fifty percent of pay last drawn subject to maximum of Rs. 11, 200/- is admissible as pension.
3. There may be a case when total qualifying service falls less than 33 years. In this case the pension is reduced proportionately.

There is also a family pension that is provided for retired policemen. The normal rate is 30% of last pay drawn till death or remarriage. The enhanced rate is double the normal rate which is subject to maximum pension in case of death after retirement. There is also double the normal rate subject to a maximum of the 50 percent of pay last drawn in case of death before retirement, subject to minimum of Rupees Thirteen hundred from the date following the death of pensioner / employee for a period of seven years or till the attaining of 65 (sixty five) years of age, had he been alive, whichever is earlier.

For Gratuity the amount reckonable for gratuity is equal to the last pay plus the dearness allowance while the amount of gratuity is equal to the Amount reckonable into thirty three divided by two. The points to be noted for death gratuity are below.

1. Maximum limit is of Rs. 2, 50,000/-

2. Amount Reckonable into 33

3. In case of qualifying service falls short of 33 years, the amount will be on proportional basis.

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Pension Plans

bhavana — Fri, 26 Feb 2010 08:11:44 +0000

Pension plan is a type of Insurance that allows one to get guaranteed income after their retirement. The plans vary greatly in terms of their structure as well as their benefit. There are two common types of retirement or pension plan. The first one is known as the money purchase plan and the other is defined benefit plan. Sometimes the two plans are combined together to form a Hybrid Retirement Plan.

Defined Benefit Plans are meant to offer a definite amount of pension to a person after its retirement whereas in money purchase plan, a fixed amount of money is contributed on a regular basis in an investment account of the policy holder. At the time of retirement, the investments as well as the interests are used to buy pension.

There are three types of formulas that are mainly used by the Insurance Companies. They are Flat benefit formulae, Final or best average earning formula and Career average-earning formula.

• Flat benefit formula – In this case the yearly pension of an individual would be a specific amount that can be drawn in every year.

• Final or best average earning formula- In this pension is adjusted as per the wages. This formula offers a specified percentage of the final earnings of a person for every year of his or her service.

• Career average-earning formula- In this Pension Plan the annual pension benefit would be the fixed percentage of one’s annual earnings.

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Pension Mutual Funds

bhavana — Fri, 26 Feb 2010 08:03:29 +0000

Pension mutual funds are the funds that are collected from various investors and are managed professionally. The collection of this fund is referred as pool and these pools are generally used for the investment in stocks, bonds and securities. These funds offer a regular income to individual after their retirement. The management of the funds is done by the fund managers and they are the one that use this fund for trading on regular basis.

On the other hand pension funds are referred to the pool of assets and are done mainly to finance the Retirement Plan. It also helps an investor to accumulate funds on long term basis so as to have steady income after their retirement. Mutual funds are always considered as a best option of investment for ling term. So the two aspects of pension funds and mutual funds are combined to form pension mutual fund.

In this case people can have assured return on their investment and along with this they are also eligible to have steady monetary income after their retirement. One such financial institution that has come up with this innovative idea is Franklin Templeton Mutual funds. This plan has also been approved by the central government and it also eligible for tax benefits under section 88 of the Indian Income Tax Act.

Apart from offering steady income before and after the retirement, this fund also allows an individual to have tax rebate, which further translates to more savings. In Franklin Templeton’s Pension Mutual fund, the maximum investment limit is Rs. 70,000/-.

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Bimadeals » Pension Plan

Pension scheme to offer 8.6% assured return option

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Kotak Retirement Plan | Pension Plan from Kotak Life Insurance

Unit Linked Pension Plan & Unit Linked Insurance Plans

ICICI Pension & Retirement Plan India

Plan Name

Plan Type

Pension Plans

SBI Life-Horizon II Pension

Retirement and Pension Benefits

Pension Plans

Pension Mutual Funds