Studies indicate the
number of Indians above 60 years is projected to rise around 55% by 2050. With
rising lifestyle patterns, improved medical facilities, more health awareness
etc. the average age of an old citizen has now shifted in the house of 60 to 90
years which indicates an increasing longevity. Everyone wants to live more and
its good news, however, along with longer retirement comes the concerns of
accumulating enough wealth to live happily during the dusking days of life.
More than happiness, it is the sheer pride of the senior citizen of living self
independent and enjoys those cherishing moments of life.
During retirement,
your income stops while the expenses still remain the same or might increase as
well. More over with inflation increasing the cost of basic essentials, your
savings done today might not be sufficient to meet the rising cost in future.
Therefore, it is advisable to start saving early and in a systematic manner for
a comfortable and stress-free retired life. The article will guide you about
the importance of retirement pension plan and some features of good retirement
plan.
Retirement planning
involves streamlined saving efforts, vigilant investment module to build a
sufficient retirement corpus and the judicious selection for the post
retirement phase. With this comes the responsibility of choosing a good and
sound retirement plan company which will offer you the best deals and benefits
catering as per your needs and most importantly fitting into your budget.
This pension plan
aims to build your secured collective future and therefore you need to know and
understand the importance of retirement planning. With the rising needs,
changing lifestyle and aspiration for better future it has become one of the
most important goals of every individual of modern times.
At present life
expectancy of an average Indian is around 65 years and is likely to increase
progressively in future. Nuclear family module with enough back up support has
forced people to seriously think about planning for their retirement and secure
their near future. This has to be addressed carefully at a younger age itself.
The government is also concerned about this issue and has launched NPS
(National Pension System) which is offering tax benefits too. IRDA is also
trying to increase awareness for pension plans offered by the life insurance
companies.
In India there is
several retirement
plan company which help you achieve financial stability for your retiring
days. There are also various retirement pension plans that can provide an
income to your spouse, on your demise due to any unfortunate reason. Pension
plans offered by life insurance companies help individuals plan effectively for
their retirement, because they provide individuals with a regular income in
their golden years.
During your efforts
to save for a long term goal such as retirement, the cost matters a lot.
Therefore, we need to emphasize on selecting a good retirement plan company
whose account opening, handling and administrative charges are at the lowest,
making the cost-adjusted returns quite attractive in the long run. Look for
company which is well regulated, good transparency level, having good customer
service and offers flexible scheme.
It is important to
set a specific goal for the retirement plan basis of your projected needs
during retired life. These needs could be anything such as vacation, or
starting a restaurant, so plan your funds to accomplish your desire goals.
Choose plans that help you build a corpus which will lasts throughout your
retired life. So, whether you wish to retire early and start your own business
or lead a leisurely retired life, you can be sure of the funds that make it for
the best years of your life. Most important is that even if you retire early
you need to invest in the retirement plan company that will help you build a
corpus to utilize the funds for your future plans.
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