Please recommend.. is it worth investing in it ? HDFC Pension Super.. retirement plan, or should i look elsewhere ? I was thinking of investing 50000 pa for 20yrs.
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HDFC Pension Super - Is it worth investing in it ?
Please recommend.. is it worth investing in it ? HDFC Pension Super.. retirement plan, or should i look elsewhere ? I was thinking of investing 50000 pa for 20yrs.
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Few Queries -
1- Why do you want to invest in HDFC Pension Super?
2- Why do you think this is the best plan for you?
I was looking for investing (as i havent invested in anything yet) and i was suggested this plan by a relative. I am 30yrs as on today and work in a private company. So it sounded good that i will get pension after 20 yrs if i invest in this. However this is unit linked plan so i was a bit skeptical.
what you asked..
1- Why do you want to invest in HDFC Pension Super?-- To be frank i don't know.. recommended by relative.
2- Why do you think this is the best plan for you?-- Seems the return is good.
There is something like sum assured which is 1000. 5yr lock period without charge after that. After 20 yrs the amt should be arnd 70lac.. as told. Don't know much about these terms.
Also by cousin had invested in this plan in 2009 but he says that there has been no profit yet so hes looking to withdraw.
Am soo confused..
I tried searching the HDFC Pension Super, but not able to find on their website, wondering are they selling it?
First understand - How does the pension plan work?
The pension plan works in 2 phases which are:
Accumulation Phase: during this phase you pay your premiums and accumulate savings for your retirement.
Payout Phase: during this phase you start receiving pension from the accumulated value.
In Accumulation Phase, you invest in various assets like - MFs, Gold, Property, FDs, Business etc and create a corpus. And later on buy annuity, which will pay you back as monthly amount.
As mentioned above there is no need to buy the pension plan because word pension word is attached to it. Start investing in all the assets to create good corpus, because you never know which asset class will perform and depending on your risk taking capacity.
more queries -
1- How that agent is saying that it will give you this much return? What is the past record, since the launch of this product?
2- What percentage of return, he is predicting?
3- Is it possible in today's scenario?
Your agent is saying that if you invest Rs. 50000 pa for 20yrs in HDFC Pension Super, you will get 70,00,000/- (This will happen, ONLY If the return on your investment is 14.11%, compounded yearly for all 20 years.)That is impossible.
See the past 5 years absolute return on HDFC Pension Super - Growth Fund II is just 2.18%.
Whether this fund would give 14.11% every year in future, only God knows?
Hmm.. doesn't seem to be a good option then.. should i also ask my cousin to withdraw then ? he has already invested 1.5 lac but says there's been no profit yet. The vesting age minimum required for withdrawl is 50 and he is 28 as of today.. please suggest if he should withdraw and possibly loose the 1.5L invested or continue.. Thanks
My suggestion would be to give sometime to the plan, all ULIP plans are for long term, but the return it's giving at the moment is too low.Originally Posted by arian29
1- Check if you can exercise premium holiday option?
2- Buy adequate Life Insurance before surrendering old policy.
3- Check Income tax provisions
All the pension plans are for long term, so it's not justified to check the short term performance because in pension plan, the insurance company invests in long term assets, which won't give you returns in short term.
Thanks Master..
The portfolio details is
Fund Name * Unit Price (Rs.) Unit Balance Fund Value (Rs.)
Growth Fund II 16.94810 6,358 107,766.21
have alredy paid 25000 x 4 (half yearly basis).. how does it look..
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