How is the retirement plan?
Retirement is an important financial goal in everyone’s life. In such a situation, it is very important to choose the right retirement plan. This plan should be such that it not only protects the capital, but also gives returns that beat inflation in the years after retirement. Mutual fund retirement plans are a good option for this. They are designed in such a way that one gets a lump sum or annuity payment. It offers a large range of products for retirement savings.
How to invest?
In order to invest in mutual funds, it is mandatory to complete the KYC process. One can go through the KYC process in advance or it can be done by submitting the form and supporting documents at the time of investment. If the investor already has a folio in the fund house, then the same can be used for new investment. Investments can also be done offline with online.
What is the mode of investment?
In such funds, one can make a lump-sum investment or can also be invested through a Systematic Investment Plan (SIP). In the SIP, the investor has to create a debit instruction in his account so that the amount invested on a particular date of every month is deducted.
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How to like asset allocation?
Looking at your risk and return profile, one can choose the asset allocation plan. Retirement funds give the choice of investing in different types of asset allocation. This can be done from equity to fixed income instrument only.
What are the tax rules?
Mutual funds get the benefit of deduction under Section 80C by investing in notified retirement plans.
What to keep in mind?
In choosing a retirement product, it is best to consult the retirement advisor.
