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Queries on Pension

Discussion in 'Money Matters' started by Bharathi.K, Apr 8, 2009.

  1. Bharathi.K

    Bharathi.K Senior IL'ite

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    Pension Plans

    :bananaHi all,

    I want to invest some money in Pension plan. So that after the age of 50/55 I would like to get some amount in the monthly basis.
    Am not aware of the pension plans that is available in the market now.Drowning
    Could some one clarify me about this and also which plan is best and which gives highest returns. :clap
    Right now am working for Private company(S/W):boo:
     
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  2. mrl

    mrl New IL'ite

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    Re: Pension Plans

    Hi bharthi,

    You can try in HDFC. They have different pension schemes.
     
  3. Bharathinaidu

    Bharathinaidu Senior IL'ite

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    Re: Pension Plans

    Dear Bharathi

    I think you can invest in Public provident fund in post office which you have to pay monthly amount of 500/- to 7000/- it depends on you for 15 yrs after completing 15 yrs you can either draw the money or continue investing. For your continent i am attaching a Excel document, please check the attachment for further details.
     

    Attached Files:

  4. Bharathi.K

    Bharathi.K Senior IL'ite

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    Re: Pension Plans

    HI Bharathinaidu,

    Thank u very much for ur post. will surely try this plan.. and thanks for ur calculator. it was very much useful for me. I liked it. will surely share with my other friends.
     
  5. Bharathinaidu

    Bharathinaidu Senior IL'ite

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    Re: Pension Plans

    You are welcome Bharathi.
     
  6. vivekpuja

    vivekpuja New IL'ite

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    Re: Pension Plans

    Hi Bharati ,
    Its gud to see youngsters like us serious about investment!!!!:thumbsup
    But sad part is we invest but we dont plan
    What i mean to say is just buying a pension plan will not srve your purpose .you need to plan it.I will tell you how
    1> knowing your income , your expenses etc etc ........first calculate how much money you will need to have decent lifestyle aftre your retirment keeping in mind inflation , real time value of money etc .in simple words ,
    what comes in 10 re today will come in 100 re after X years

    2> divide in to differnt instrumnets . only one pension plan cannot give you that much amount . and u should put eggs into one basket . so what are those instrumnets.
    PPF , pension plans , and also if u invest systematically in gud mutual funds , you can use as your pension (which i can tell you if u want in details)

    3> dont start all invetment at same time. u can plan in phases.

    I guess thiswill helpyou

    I have not elaborated the concepts in too details . if you want to understand in deatils . .......i can helpyou accordingly

    So the mnatra is plan and then invest !!!!!!!!!!simple:idea

    Puja
     
  7. vivekpuja

    vivekpuja New IL'ite

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    Re: Pension Plans

    Hey Bharathi,
    I had written a full concept on pension foryou . but i dont knwo why its not showing up. Now i dont have energy to write that full thing . The whole thing was what i wanted to tell you was first plan and then chosse the investmnet porduct.
    Moderators , cud you plz check :idea
    Puja
     
  8. me999

    me999 New IL'ite

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    Re: Pension Plans

    wow, this a great excel file that shows clearly, but one thing on postal dept's website it shows interest calculated yearly (8%), but in this it is calculated monthly.
     
  9. KKvi

    KKvi New IL'ite

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    Re: Pension Plans

    I think thatz a reason she calcualted the monthly interest rate as below,

    interest rate per month = (Available Balance * 8 %) / 12

    -:thumbsup
     
  10. paanzaa

    paanzaa Gold IL'ite

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    Re: Pension Plans

    Jeevan Nidhi from LIC is an accumulation plan with which you can purchase a pension scheme with a corpus. Plus any endowment type plan with bomus can be converted into a pension scheme. Jeevan Anand is a wonderful plan, which gives you risk cover after maturity and till death.

    Watch out for the new pension scheme from the Government of India, which is a paln administered by 5 nominated companies.
     

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