Pension Plans

There will be changes in pension plans from 1st July 2010.

Minimum Lock in period 5years. (Presently 3 years in some plans).

Compulsory Insurance cover.(now you may opt 0 life cover).

No Full surrender. (now you may withdraw fully and close it after 5 years).

Investors, above age 50, don't want to pay higher mortality charge may invest now without life cover.

NPS New Pension System - review

NPS – New Pension System.

The very name – NPS - is having different expansions.

As per PFRDA website NPS is NEW PENSION SYSTEM.

As per Times of India it is NATIONAL PENSION SCHEME.

As per majority of public it is NEW PENSION SCHEME.

Most of the charges are FIXED not percentage on subscription. so if you start with minimum subscription you lose more on charges.

At any point of time you can not come out of the pension scheme by foreclosing. (that is you cant withdraw 100 %).

No scheme without an Advisor or Agent ( how ever you call them) to canvass will succeed.

more to come.

Please correct me if am wrong.

Click Here to know more about Scheme

NPS: New Pension System

The Govt of India introduced attractive new Pension scheme.

It is effective from 1st May 2009.

Anybody can invest in this scheme.

It is similar to the scheme for Central Govt Employees which gave a return of 14.5% in 2008 – 09.

for details click