Retirement/Pension Plan

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05-03-2010
Sahil

Retirement/Pension Plan

Hi Guys, I am 33 years old and working in software field. As I am working in a private company, so no pension would be provided after retirement and with inflation and high cost of living in future, I am looking for a good pension plan for myself. Monthly investment, I can do now is Rs. 20,000/-, which I am looking to increase in future as and when I would get more. Please guide me. If any other details are required from my side, please do ask. I am more happy to provide the same.
05-03-2010
Harish Rawat

Most of the Pension Plans of Insurance Companies are not good option for Retirement Planning, until you know when to switch between funds to maximise your profits. I would suggest you to take MFs for returns. And it will build your retirement corpus considerably.
05-03-2010
Sahil

Quote:

Originally Posted by Harish Rawat

Most of the Pension Plans of Insurance Companies are not good option for Retirement Planning, until you know when to switch between funds to maximise your profits. I would suggest you to take MFs for returns. And it will build your retirement corpus considerably.

Are you suggesting to go for ELSS funds?
05-03-2010
Harish Rawat

Don’t close your options, just with ELSS. As per your first post you want to invest 20,000/- per month, which comes out to be 2,40,000/- per annum. As per current 80CCC limit (for current year) 1,00,000/-. You have 1,40,000/- to invest in other than tax saving funds.
05-03-2010
Lethal

I agree with Harish on investment in MFs for long term for retirement. Insurance is for life cover, not for investment. For example – If you have invested Rs. one lakh in Birla Sunlife TAX Relief 96 Fund in March 1996, than you would have received Rs. 21 lakhs as dividend in 12 years (Between year 1996 - 2008) & its current value is approximately 4 lakhs; even after recession and market crash. So in total you would have received 25 lakhs. I don’t think, if it is possible in any pension plan of any life insurance company.
05-03-2010
Sahil

Thanks Lethal. For sharing the above info with us. Could you please share the website, where I can go and find out the results and past performance of the MFs?
05-03-2010
Lethal

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Quote:

Originally Posted by Sahil

Thanks Lethal. For sharing the above info with us. Could you please share the website, where I can go and find out the results and past performance of the MFs?

For past performance of a mutual fund, you can use value research or moneycontrol websites. But the above info, I have received thru an email from my investment advisor. It is little bit old. Please find attached herewith for your reference.