Presentation on theme: "Executive Pension Plan Achieving Financial Independence Upon Retirement."— Presentation transcript:
Executive Pension Plan Achieving Financial Independence Upon Retirement
E E nsuring that your retirement is planned! Worried about the financial problems you might face after retirement? EFU Executive Pension Plan EFU Executive Pension Plan An effective means of achieving financial independence upon your retirement. Let EFU Life facilitate you with In addition to your retirement benefits, the Pension Plan also gives you the opportunity to avail a range of protection benefits enabling you to tailor the Plan perfectly to your needs.
S S alient Features Contribution to the Pension Plan are invested in accumulation of units to build up a substantial capital Capital is applied to provide a pension at retirement The Pension Plan is fully portable and stays with you wherever you go. Your contributions will buy units in any one of the EFU Growth Funds, managed by experts You will be able to choose how to take your benefits from a whole range of options. Access your savings when you need them.
A A Range of Benefit Options You can withdraw your full or partial Fund Value At maturity you can withdraw the fund value as a lump sum amount, or you may select an income to be paid for your lifetime. F F und Acceleration Premium EFU EFU Executive Pension Plan gives you the flexibility to top-up your regular contributions by depositing surplus funds. You can select a joint income which will continue to be paid to your spouse
The plan also takes into account the effect of annual inflation To retain the purchasing power of the Plans benefits Each year the contribution would increase by 7% of the initial contribution Security and Peace of Mind I I nflation Protection A A ccess to your savings No one can predict the Future If needed you can access your savings after 2 years premium payment
W aiver of Premium A dditional Benefits The Pension Plan offers a range of additional benefits to help you tailor the Plan to suit your particular need. L ife Cover Option (Additional Term Assurance) I ncome Benefit This optional benefit provides a lump sum amount to those who are dependent on you on your death. This optional benefit provides a fixed amount, payable quarterly in advance, to ensure that the financial needs of your family are met. Contribution to your pension plan will be paid in full incase you are unable to continue your occupation due to illness.
O ther Important Details A ge Minimum: 18 years Maximum: 60 years T erm C ontribution Minimum annual contribution is Rs. 16,000 Fund Acceleration Premium: Minimum: Rs. 16,000 Maximum: 5 times the current years annual contribution. Between ages 60 and 70 years
Year% Allocation 150% 290% 3 to 5100% 6 to 10103%If basic plan contribution is over Rs. 20, onwards105% U nit Allocation The proportion of Basic Plan contribution allocated to investment is as follows: Investment Management Charge :0.125% of the value of fund per month Bid/Offer Spread :5% of net regular Contribution Administration Charge :Rs. 240per annum P lan Charges
D eath Benefit Payable on death is the full bid value plus the sum assured in respect of any additional benefits A dditional Term Assurance Maximum sum assured under the additional term assurance is limited to the Basic Plan times term of policy