Your search for Retirement Planning Services in Bangalore ends here – at EldersWealth

If you are looking for Best Retirement Plans in Bangalore, EldersWealth can just be the right solution for you. We at EldersWealth believe that retirement planning should be a part of everyone’s financial plan. After all, it is essential to save & invest enough to take care of yourself independently after you retire.

In case you don’t have a Pension/Retirement Plan in place, it might be challenging to manage your daily expenses once the regular source of income stops.  Consequently, you might have to depend on others to make the ends meet. Therefore, it is essential to build a Retirement Investment Plan with the help of Retirement Planning Service Providers. EldersWealth offers one of the Best Retirement Plans and help you manage personal finance in the golden stage of your life. Our team can assist you select the right and most suitable schemes from multiple options. We understand that there are a lot of things to consider in Retirement Planning in Bangalore. Hence, our comprehensive platform covers everything from investment to insurance to make retirement the best innings of your life. 

Work-based pension schemes work like social security to employees in the form of pension during retirement. The amount paid towards such a plan is contributed by both, the employer and the employee.

On the other hand, insurance based-pension plans can be availed through an insurance company and not sponsored by an employer. These are one of the most popular Retirement Investment Plans and also known as personal pension plans. These schemes offer a life insurance cover along with retirement benefits.  

Here, there are two types of pensions plans offered under Retirement Planning in Bangalore:

Deferred Annuity: This allows the policyholder to accumulate funds through a regular premium or single premium over a policy term. On maturity, the policyholder starts receiving regular annuities. One also enjoys tax exemption on the amount invested until withdrawn. 

Deferred Annuity: This allows the policyholder to accumulate funds through a regular premium or single premium over a policy term. On maturity, the policyholder starts receiving regular annuities. One also enjoys tax exemption on the amount invested until withdrawn. 

Immediate Annuity: In this type of pension scheme, you need to pay a lump sum amount and the pension is provided immediately. This plan is also subject to tax exemption under the Income Tax Act, 1961. 

In addition, the Central Government of India has launched various investment schemes to support post-retirement income of senior citizens of India. These are some of the Best Retirement Plansand offer social security in the form of a pension to golden agers in India. These government sponsored schemes include National Pension Scheme (NPS) , Employee’s Provident Fund (EPF), Public Provident Fund (PPF), Senior Citizens Savings Scheme (SCSS) etc. 

Through our platform, EldersWealth also offers assistance to invest in these products and take a right investment decision. NPS is one of the Best Investment Plans for Retirement and  is available for everyone up to the age of 60 years. One can invest in the NPS and withdraw up to 60% of their corpus upon turning 60.The balance amount is returned to the NPS holder as a pension for life in the form of annuity payments. This scheme invests across Equity (maximum up to 75%), Corporate debt, Government Bonds and Alternative Investment Funds.  Other options such as PF and SCSS are also recommended by Pension Plan Service Providers in Bangalore. . 

Here’s the list of benefits of buying pension plans & availing Retirement Planning Services in Bangalore.&nbsp

  • Guaranteed income after retirement
  • A Retirement Investment Plan ensures a regular source of income post-retirement. Moreover, saving and investing prudently can help you enjoy financial freedom in the second innings of life i.e. retirement period.
  • Saving habit
  • Starting a pension scheme at an early stage inculcates the habit of saving and brings a discipline in your financial life. EldersWealth offers some of the best Investment Solutions in Bangalore and assistance to everyone who wants to start Pension/Retirement Plan.
  • Tax benefits
  • The savings made in pension plans qualify for various tax benefits under Income Tax Act. Deposits made in a PPF account and investments of up to Rs 1.5 lakh in NPS, ULIPs can be used to avail tax deductions under Section 80C. Things to remember before buying a Pension/Retirement Plan
    1. Estimate financial goals
    2. Take current income and expenses into account
    3. Fix a periodic investment amount
    4. Research available pension plans compare the post-maturity benefits
    5. Understand details of the product and then select a plan

FAQ

What is meant by self-employed retirement plans?

EldersWealth offers its assistance in Retirement Investment Plan of self-employed people as these people do not have PF or any other employer-sponsored pension scheme to depend on. Self Employed Retirement Plans are no different from any other retirement planning except for inconsistent income on some occasions.  Here, EldersWealth can guide investors to keep aside funds during the earning stage between 20s to 50s. Saving and investing in the Best Retirement Plans with the help of Pension Plan Service Providers in Bangalore can make retirement planning an easy task.  

How should I invest my retirement plan?

Seek professional help from Retirement Planning Service Providers and make a well-informed decision after detailed discussion with the expert. EldersWealth can help you build  a solid retirement plan at any stage of life. . 

What is the best investment plan for retirement?

The Best Investment Plan for Retirement is the one which considers your current and future expenses into account. It is a combination of different investment products and insurance plans which suit the risk appetite of an investor and is in line with his financial objective. 

What is a safe rate of return to use for retirement planning?

Rate of return for each investment plan is different. While PF, NPS and SCSS provide guaranteed returns, schemes like ELSS and ULIPs do not offer pre-decided rate of returns. It is prudent to select a scheme that is suitable to your investment type.

What is the best option for Retirement Investment Plan?

There’s no single or ideal product for the best Retirement Investment Plan. One has to build a customised plan with the help of professional financial planner to meet the goal of retirement as planned

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