Tata Mutual Fund Launches retirement specific Mutual Fund

Tata Mutual Fund has launched Retirement specific mutual fund scheme with auto switch facility Called 'Tata Retirement Savings Fund'. It offers three unique options to investors 'Progressive Plan,''Moderate Plan' and 'Conservative Plan' - with varied percentage of equity and debt assets.
The investor has the facility of an 'Auto-Switch' feature where the fund does the necessary asset allocation automatically as the investor crosses into a different age bracket.
Yet another unique feature of the fund is the 'Auto-Systematic Withdrawal' facility. This is designed with the objective of providing the investors with regular cash flows after they turn 60.
he 'Auto-Systematic Withdrawal' facility comes with two options of Monthly - 1 per cent of market value of investment as on date of completion of 60 years of age or Quarterly - 3 per cent of market value of investment as on date of completion of 60 years of age.