npavan78
01-08-2008, 08:45 AM
What can this plan do for me?
As the name suggests, this plan can ensure that your post-retirement years are spent in peace and comfort. And it extends the same comfort to your family by standing as a financial asset, in case you are not around. This long-term investment plan can truly ensure the best years of your life.
Key Features
Investment Amount And Returns Declared Are Guaranteed
Steady Returns With 80 CCC Balanced Fund
Flexibility in Fund Accumulation
Lower Management Fees
Lower Minimum Contribution Limit
Benefits
Capital Guarantee:
. Your contributions are transferred to your Individual Pension Amount(IPA). Charges as applicable will then be deducted.
. The balance in your IPA will be invested in the ING Vysya Capital Guarantee Plan.
Flexibility:
. To chose the regular contribution to be made each year.
. With regard to timing and frequency of contributions
. To start the pension whenever you wish.
. To postpone the retirement date to make best use of market conditions.
Spouse Pension Benefit:
. In case of death, your spouse can defer the purchase of annuity, if the age is less than 45 years.
. To encash up to 5% of the outstanding benefit amount each year, upto age 45,and then can purchase annuity from balance, if any.
Additional Benefits
Term Rider Benefits
The cover shall be equal to the lower of 5 times the regular contribution or Rs. 1,00,000.
The sum assured under this rider will be used to increase the benefit amount under the basic policy.
Term Rider Premium
Premium will be paid by way of deduction from the IPA on each due date.
Tax Benefit
Under Section 80 CCC. Any lump sum received at chosen retirement date or on death is exempted from tax, under Section 10(10A) of the IT Act.
Product Features
Eligibility
Minimum entry age: 18 yrs
Maximum entry age: 65 yrs
Minimum deferment period: 5 yrs
Maximum deferment period: 52 yrs
Minimum vesting age: 45 yrs
Maximum vesting age: 70 yrs
Applicable Charges
Initial one-time charge Rs. 700
Contribution Related Charges
All first year contributions 10%
All subsequent contributions 3%
Annual Management fee will be levied on each 31st March on the IPA after crediting bonus interest. The Annual Management fee will depend on the size of balance in the IPA and will be as follows:
Balance in IPA Annual Management Fee p.a.
Upto Rs. 50,000 2.5%
50,001-75,000 2%
75,001-1,00,000 1.75%
Above 1,00,000 1.5%
As the name suggests, this plan can ensure that your post-retirement years are spent in peace and comfort. And it extends the same comfort to your family by standing as a financial asset, in case you are not around. This long-term investment plan can truly ensure the best years of your life.
Key Features
Investment Amount And Returns Declared Are Guaranteed
Steady Returns With 80 CCC Balanced Fund
Flexibility in Fund Accumulation
Lower Management Fees
Lower Minimum Contribution Limit
Benefits
Capital Guarantee:
. Your contributions are transferred to your Individual Pension Amount(IPA). Charges as applicable will then be deducted.
. The balance in your IPA will be invested in the ING Vysya Capital Guarantee Plan.
Flexibility:
. To chose the regular contribution to be made each year.
. With regard to timing and frequency of contributions
. To start the pension whenever you wish.
. To postpone the retirement date to make best use of market conditions.
Spouse Pension Benefit:
. In case of death, your spouse can defer the purchase of annuity, if the age is less than 45 years.
. To encash up to 5% of the outstanding benefit amount each year, upto age 45,and then can purchase annuity from balance, if any.
Additional Benefits
Term Rider Benefits
The cover shall be equal to the lower of 5 times the regular contribution or Rs. 1,00,000.
The sum assured under this rider will be used to increase the benefit amount under the basic policy.
Term Rider Premium
Premium will be paid by way of deduction from the IPA on each due date.
Tax Benefit
Under Section 80 CCC. Any lump sum received at chosen retirement date or on death is exempted from tax, under Section 10(10A) of the IT Act.
Product Features
Eligibility
Minimum entry age: 18 yrs
Maximum entry age: 65 yrs
Minimum deferment period: 5 yrs
Maximum deferment period: 52 yrs
Minimum vesting age: 45 yrs
Maximum vesting age: 70 yrs
Applicable Charges
Initial one-time charge Rs. 700
Contribution Related Charges
All first year contributions 10%
All subsequent contributions 3%
Annual Management fee will be levied on each 31st March on the IPA after crediting bonus interest. The Annual Management fee will depend on the size of balance in the IPA and will be as follows:
Balance in IPA Annual Management Fee p.a.
Upto Rs. 50,000 2.5%
50,001-75,000 2%
75,001-1,00,000 1.75%
Above 1,00,000 1.5%