Hello ! Checked various pension plans offered by all the organisations.You would be receiving only 4 to 5 % finally.Sometimes you will not be recovering your own money.Better invest in FD or in Post office for MIS.Surely you will get a better return.
Hello ! Checked various pension plans offered by all the organisations.You would be receiving only 4 to 5 % finally.Sometimes you will not be recovering your own money.Better invest in FD or in Post office for MIS.Surely you will get a better return.
Hello ! Checked various pension plans offered by all the organisations.You would be receiving only 4 to 5 % finally.Sometimes you will not be recovering your own money.Better invest in FD or in Post office for MIS.Surely you will get a better return.
I have been going through various pension plans; Talked to some representatives also. Here are some observations :
1. No Company/AGent/Broker is able to tell a single live example for cross checking whether all the claims about 50 to 100% returns are true or not. 2. The number of charges that are levied by the various Companies is substantial and there is no maximum limit prescribed for these charges. In a typical case, you will find that your principal gets eroded and you end with less than what you invested. 3. Most Agents push products which will earn their Company higher income in charges and commission for themselves rather than show products they have which will yield better returns. 4. Most of these pension plans will end up yielding you average returns of 4 to 5% only in the long term. With interest rates falling, this might be lower also.
5. I would like to be proved wrong in the above analysis
Thanks for the preliminary information regarding the pension plan. I am thinking to go for the Pension Plan. Please find below my requirement. Present Age: 25 years Retirement Age: 45 years Pension Amount Required: Rs. 15000 p.m. Anyone can help me that which pension plan will be suitable for my case. Please also tell me what will be my annual premium and what will be my percentage of return. Please contact me at tosoumenmandal@gmail.com.
Thanks for the preliminary information regarding the pension plan. I am thinking to go for the Pension Plan. Please find below my requirement. Present Age: 25 years Retirement Age: 45 years Pension Amount Required: Rs. 15000 p.m. Anyone can help me that which pension plan will be suitable for my case. Please also tell me what will be my annual premium and what will be my percentage of return. Please contact me at tosoumenmandal@gmail.com.
Re: Pension Scheme
by gauri bhandare on May 10, 2009 02:30 PM Permalink
Plz provide some contact details, so that I can help you out for ths.. 9820275310
Agreement says, the term of the policy is for 20 years...is that mean that i should pay premium for entire 20 years. HDFC rep says it is upto 3 years lock in. 4th year onwards, i can withdraw, either partial or entire corpus accumalated. Is that true? Also let me know that whether i can invest further after 3 years giving break in the premium payment. flexibility in the size of premium payment during lateron years after 3 years.
Big question is how safe is my money invested? I'm really investing huge amount every year in the scheme hoping that money can be withdrawn at the time of emergency or my child's education/marriage etc. At that time, it should not be a surprise for me saying my hard invested money can't be withdrawn!!!
This is purely based on my personal experiance. Bank's representative do not reveal the most important details at the time of investing....eg., such a huge management charges (40% of premium) gave me a painful surprise only when i got the statement, that too almost after a month i invested. This information was never given by the representative. Also in the policy document, no where is mentioned about the lock in period of premium payment. term is given as 20 years...if i had known earlier i would have invested less amount rather than going for such huge amount. i can't even cancell the policy now afraid of losing about 95% due to surrendering....
Really surprised why these bank cheats customers by hiding important info till the end.
Re: Clear clarify on HDFC ULIP Pension Plan
by Guest on Jul 23, 2009 04:51 PM Permalink
i am shinde dk age 43 years new invester in pension so give me guidence for which company means lic, hdfc , icici ...? is better and which plan good. my no - 9822377367 mail - shinde65@yahoo.co.in
Re: Clear clarify on HDFC ULIP Pension Plan
by gauri bhandare on May 10, 2009 02:34 PM Permalink
while signing on proposal form, there is another document called illustration which need to be signed, in that they give complete details, jst check tht.. n alwz tk insurance from proper insurance channel person....9820275310
It is like booby trap. Dont invest in any pesnion plan. I am in the trap and no way to get out. They pay you 3.5 to 4.5% interest and you have to be with it for life. Keep your money in post office monthly income scheme wchich gives 8% per anum. Any one already into the trap stop paying further premiums and put your money in other schemes. As per pensions plans you have to buy ANNUITY atleast for 2/3 of matured amount which gives returns of 3.5 to 4.5% for life and you have to be withit. They return the corpus after seeing your end.
Re: DONT INVEST IN ANY PENSION PLAN
by Venkatesam on Feb 02, 2009 04:00 PM Permalink
Hello. May be you have had bitter experience with the pension plan, to invest in which, was your own decision or the recommendation of the insurance agent. But, the information you possess about these is not complete and correct. Also, your recommendations (to invest in PO MIS etc.) are not agreeable for certain reasons. You need to contact a Financial Planner (Not an Agent, Distributor, Broker etc. whose income is the commission or brokerage he gets from the insurance companies and mutual funds).
