Pension Planning

Pension plans are a form of investment plan that allows you to save a portion of your income over time in order to have a secure financial future. A pension plan can help you deal with the uncertainties of retirement and assure a regular stream of income. Even if a person has a sizable savings account, a pension plan is essential.

Have Anyone got retired From GOVT In your Family ?

As you know that when someone get retired from Govt. They get lump sum as retirement benefits and pension there after.

But if we go in details from where this money Govt Is giving . It Gets deducted from employees salary partially which at the end given to him and pension there after

Scenario if someone gets retired From a Government job-

A person retiring from a government job gets a lump sum amount as retirement benefits (which is nothing but their own partially deducted salary which is added up and given as retirement benefit) and a pension after that.

Ideal Parameter for Buying Pension Planning

• Pension Planning Must be freezed between the age 23-35 yrs.
• Premium Liability to be finished before age of 50.
• Pension starting age must be 56 yrs.
• It must be a whole life policy i. e 99 yrs.
• Pension Corpus Planning should be done in a way where your pension corpus and Pension is to be non taxable.
• Regular Pension Must be fixed because a person is totally dependent on this.