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).
