Retirement Planning
- Financial Backup for Emergencies. When you are no longer working, the unpredictability of life can be frightening. …
- Returns on Investment. …
- Tax Benefits. …
- Cost Savings. …
- Peace of Mind/Financial Independence. …
- Cost Savings. …
- Peace of Mind/Financial Independence. …
- Inflation.
benefits of retirement plan
Regular and Guaranteed Income
It provides a regular and steady income after retiring
Partial withdrawal
Payment duration is the total duration for which you keep receiving the pension after retirement.
Death benefits
On any tragic and unforeseeable occurrence, such as the death of the insurer, the nominee receives an amount as death benefit from the insurance firm as compensation.
FAQ About RetirementPlan
A retirement plan is a type of life insurance plan designed to fulfil the post-retirement needs of an individual. It helps create a corpus amount and generate a regular income after retirement in the form of a pension. Hence, it is also known as a pension plan.
A retirement plan or a pension plan essentially is an insurance policy that requires you to make financial contributions or investments to a number of funds that are set aside to help with your post-retirement years. Most Indian retirement plans available are divided into two parts: Accumulation. Distribution.
- Employee contributions can reduce current taxable income. Contributions and investment gains are not taxed until distributed. Contributions are easy to make through payroll deductions. Interest accrues over time, which allows small, regular contributions to grow to significant retirement savings
Because most workers receive health benefits from their employers, retirement often disrupts health insurance coverage. Some employers offer health insurance to retirees, but many firms are cutting re- tiree health benefits by passing more costs to retirees or eliminating benefits altogether.
When you retire, you may lose your employer-provided life insurance plan, so you may want to look into purchasing a plan of your own. Having your own life insurance policy in place is a good idea if you have debt, like a mortgage, or a spouse who depends on you financially.
Employee contributions can reduce current taxable income. Contributions and investment gains are not taxed until distributed. Contributions are easy to make through payroll deductions. Interest accrues over time, which allows small, regular contributions to grow to significant retirement savings
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Om Sai Enterprises
The company was founded in 2017 with the sole purpose of enabling people to leverage the best financial consultancy and services