PENSAVE SCHEME.
PLANNING FOR A PROSPEROUS RETIREMENT
Prudent people look forward to an active and fulfilling retirement period of life, free of financial problems. But the sad fact is, for many people what could be the most satisfying period of their life turns out to be a time of financial pressure and anxiety. And as people nowadays tend to retire earlier and life longer the hardship which can be suffered becomes even greater if they have to cope with a sudden drop in their income. Whatever dreams you may have for your retirement, the key to making them a reality is to ensure you have a comfortable retirement income and have built up sufficient capital to give you financial independence.
You need to plan ahead and the earlier you begin the more time your savings will have to grow and the more prosperous your retirement can be.
SAVING FOR RETIREMENT
Your situation demands a plan which is capable of maximizing the return on your saving while also allowing the greatest possible flexibility. It must be adapted to reflect your changing circumstances and above all you must have control.
Pensave Scheme is far more than just a retirement savings plan, it is a complete planning package which can offer real security and peace of mind for you and your family throughout your working life.
With Pensave Scheme you are in control of contribution payment investments and benefits.
Flexible Contribution
You can decide when and how much you want to contribute, whether a regular contribution, lump sum or a combination of both. PENSAVE SCHEME gives flexibility to increase, decrease or suspend the amount you save to reflect a change in lifestyle.
Flexible Benefits
You choose the retirement age which meets your requirements. Benefits can be taken up as a lump sum, regular income or a combination of the two.
Investment Opportunities
Pensave is investment oriented scheme for which your are guaranteed a negotiable rate of interests together which bonus interest.
Added Protection
Valuable protection for yourself, family, can be built into PENSAVE SCHEME providing financial security in the event of death.
Tax Efficiency
Your retirement savings accumulate tax free giving your savings
an extra boost.
Portability
Pensave is personal to you, you can take it with you if you change employers.
SIMPLICITY OF OPERATION
Pensave is simple and straight forward to operate and hence better understood than other traditional insurance savings products e.g. endowment assurance and deferred annuity.
OTHER LIFE PRODUCTS WHICH CAN BE ARRANGED ON REQUEST ARE AS FOLLOWS:-
(a).Medicare Insurance
(b).Super Education Provider
(c).Super Life Provider
(d).Flexi Life Provider 9 years
(e).Anticipated Endowment 15 years
(f). Funeral Cash Policy (or rider)
(g).Term Assurance
(h).Whole Life
(i). Group Life and Pension
The growth of your retirement fund in your accumulation account will depend on timely payment of contributions. The cost of administering your retirement fund and providing any protection you select is deducted from your fund
Benefits obtainable
The benefits available under the scheme are:-
(j). late retirement benefit
(ii). Normal
(iii). III-Health retirement
(iv). Withdrawal
(v). Death
The amount for each type of benefits (except death benefits) depend on fund balances in your accumulation account. For death benefits, the amount will depend on the multiple of the salary selected by you.
Note
The above mentioned is only general outline of the deposit administration scheme and details can be explained and worked out after mutual consultations. To enable NATIONAL INSURANCE CORPORATION OF (T) LTD to give quotation of the cost and amount of benefits under the scheme, you furnish us the following particulars:-
(I). Name and gender of employee
(II). Date of birth
(III). Annual salaries
(IV). Rates of contribution
(iv). Normal retirement age
(v). Proposed date of commencement of the scheme
(vi). Amount
