Pension plan

A pension plan works as a retirement planning scheme. You invest a certain amount with an insurance company from where you will get a regular income. Broadly speaking, there are two kinds of pension plans. In the first kind, you invest a lump sum and opt for getting returns annually with immediate effect. Such a practice is usually adopted at the time of receiving superannuation on retirement. Alternatively, you can invest every year for a certain number of years. At the end of the policy term you will get a regular income – annual, quarterly or monthly depending on the option you choose. Some pension plans also give you the option of a life cover.

Want to know more?
Leave your contact details and have our financial expert get in touch with you.