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Why Must You Plan Your Retirement With A Reliable Plan?

The golden years of your life or the time of your retirement is when you are no longer in the workforce. Thus, you either rely on your savings or devote time to other low-paying jobs. To help you stay financially secured in this age and time you must opt to invest in a reliable retirement plan. 



These so-called pension plan offer a host of advantages to its beneficiaries as you can read below - 

  • You can avail a fixed and stable source of income even after retirement from these pension plans. The time you start reaping its benefits will depend majorly on how you have invested and planned for retirement. You may use a retirement calculator to help you evaluate how much funds would you be needed to suffice your expenses after you retire.

  • These plans are entitled to exemption from taxation under Section 80C, 80CCC and 80CCD of the Income Tax Act.

  • The plans offer low liquidity and some agencies even offer pension plans which let you withdraw during the accumulation stage itself.

  • Usually, most of these plans are opted at an age of 40 or 50 years. While, the age bracket is quite flexible up to 70 years. Some companies even let you invest in the plan up to the age of 90.

  • Some funds let you partially or fully withdraw during the accumulation periods. For instance, if you start receiving pension form the age of 60 to 70 years the payment period is 10 years. So, discuss plan terms with your Relationship Manager before taking important decisions.
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