Retirement Solution - Personal Needs

After a certain age you will not be earning as today as you will not be physically as strong as today. Your need for money will not reduce after retirement and even if you have fulfilled all your duties and responsibilities you will need to keep up with your living standards along with taking care of your health.

After retirement many people spend a lot of money towards medicines and that becomes need for many. Retirement policy is your need.

Some of the aspects of retirement solutions are:

• For retirement solutions it is said that as soon you start saving for your retirement the more you are benefited. People who start investing on retirement solutions get better benefits if they start investing earlier in life as the benefits of interests can be gained on investing earlier.
• In the retirement policies you yourself decide at what age you wish to retire and can procure the benefits of today’s hard work.
• You can get bonus benefits depending upon the policy type.
• Proper investment can help you get large amount of corpus on retirement to help you fulfill many of your ambitious dreams on retirement.
• Retirement solution and pension plans help small investment for long time to get benefits through interests, taxes and also secure your old age.

Deferred Pension

Deferred Pension plan helps you to start investing small amount of money at an early age and get the benefits on retirement.

Features of deferred pension plans are :

• You will be making plans for your old age from a young age.
• In deferred pension you are benefited as you get interests of the long term investments and on retirement although you have invested minimal corpus you are benefited out of the annuities of the amount investment.
• You decide for the retirement age yourself when you wish to get the retirement benefit.
• From the time you have got the policy, you will be paying regular premiums for a fixed time period that is called deferment period.
• On completion of the deferment period you will get the annuities depending on the type of policy.
• The amount you are paying as premium will be locked for the deferment period and in need of funds you can surrender the policy. You will get a part of premium on surrendering the policy. You also will get tax benefits on this pension plan.

Immediate Pension

Immediate pension plan offers a scheme to get pension after investing a huge sum of corpse towards getting pension immediately.

The features of immediate pension plans are:

• The annuities benefits in case of immediate pension plan are not available as in case of deferred pension plan.
• The pension holder can get pension on monthly, quarterly, half-yearly or annually basis depending upon the policy type.
• The policy holder get annuity for the number of years defined in the policy and other benefits are also associated to the policy like benefit to nominee in case of death of policy holder, spouse benefits etc are also provided in the policy.