Protect your Future — Best Pension Plans to Invest

Do You Need a Retirment Mutual Fund to Take care of you Sunset Years?

A retirement plan helps you accumulate enough funds to remain financially independent during your retirement years. It entails deciding your retirement age, how much money you will need for your monthly expenses during retirement and how much you need to set aside now to accumulate that corpus for retirement years. There are different investment products for retirement planning.. Mutual funds is one of the suitable investment products to plan your retirement in Trichy.

Types of Retirement plan

Mutual fund retirement plans

In a mutual fund retirement plan, you can opt for a systematic withdrawal system and you do not have to buy an annuity. This provides you with liquidity to meet your immediate cash flow requirements.

Immediate annuity plan

In this retirement plan, the investor can pay lump-sum, instead of contributing over the years and can start receiving income immediately. The frequency of payments received can be monthly, quarterly, half-yearly or annually.

Deferred pension plan

, you are required to pay premiums and the money accumulates through the tenure of the plan period – and a retirement corpusis built up. When the tenure of the pension plan ends, the accumulated money is used for buying an annuity.

Tips to remember before buying a Pension Plan

  • Retirement planning is essential for a happy and fulfilling retired life.
  • Make a rough estimate of your future financial goal(s)
  • Here are some helpful tips to select the right retirement investment
    and to plan for your golden years.
  • Consider your current income and fix an amount to put towards the plan
  • Understand the product before jumping at the cheapest option
  • Do not choose a product only because of tax-friendliness

Do you find it difficult when you need to choose a retirement plan?

How to tone down your debts to reduce strain on your income.

Calculating your daily expenses that won’t go away simply because you are retiring.

Keeping aside money for your medical bills which will rise as you age.

Including costs of transportation which will also rise as you age

Other aspects such as estate planning

Benefits of Retirement Planning

  • Planning ahead not only reduces your stress during retirement but also in the years leading up to it. The lack of planning can leave a cloud of uncertainty around the topic that can create an unnecessary level of stress.
  • Some retirement plans are often affected by a saver’s desire to meet other objectives such as assisting an adult child in starting or acquiring their business.
  • There are several tax benefits of retirement planning, including reducing the amount of income taxes you will pay during retirement and ensuring that beneficiaries to retirement and other account types pay as little tax as possible.

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