ICICI Prudential FMP Series 69- 372 Days Plan K, with the following features-

Tenure: 372 days
NFO Period:2nd September to 04th September, 2013
MICR cheques: No MICR
RTGS and transfer cheques: Till end of business day on 04th September, 2013
Switches: Switch in from equity scheme will not be accepted and switch in from non equity scheme will be accepted upto 04th September, 2013 till applicable cut off timings for switches.
Date of Maturity: September 11, 2014, subject to change in the NFO closing date, if any
Plans and Options: Direct and Regular with Cumulative and Dividend Options
Entry / Exit Load: Not Applicable
Minimum Application Amount: Rs. 5000 and in multiples of Re.10 thereafter
Benchmark:CRISIL Short Term Bond Fund Index.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online

The entry age can be between 30 and 65 years, while vesting age can be between 50 and 75 years

PRODUCT FEATURES:

It is a unit-linked pension plan. The entry age can between 30 and 65 years while the vesting age (retirement age) can be between 50 to 75 years. The minimum policy term is 10 years. One can choose single pay or regular pay option with a minimum premium of Rs 25,000 and Rs 1 lakh, respectively.

INVESTMENT OPTIONS:

There are two fund options -the pension maximiser option allows maximum investment of up to 60 per cent in equity, while the pension preserver option allows maximum investment in equity up to 35 per cent. The fund options chosen at the inception cannot be changed during the policy term.

MATURITY BENEFIT & DEATH BENEFIT:

If you choose the pension maximiser option, you will receive the higher amount between the fund value and 101 per cent of cumulative premiums at maturity. If you choose the pension preserver option, you will receive the higher amount between the fund value and 110 per cent of cu mulative premiums at maturity. In case the insured dies, the nominee get the higher amount be105 tween the fund value and per cent of the cumulative premiums paid.

GUARANTEED LOYALTY ADDITION:

is equal to 0.5 per cent of the fund value and it shall be added to the fund starting from the 11th year. These will rise by 0.02 per cent every year CHARGES: The premium allocation charge up to the 10th year is 2 per cent per annum for the annual mode and 1.25 per cent per annum for non-annual modes in the case of regular premium plan. The fund management charge is 1.25 per cent. An additional charge of 0.2 and 0.4 per cent would apply for the preserver and maximiser options, respectively, for offering guaranteed benefits. In case of a regular premium policy, the policy administration charge would be 0.36 per cent per month for annual premium up to the fifth year and 0.46 per cent of the annual premium per month, increasing at 5 per cent per annum starting the seventh year.

First, the policy has high charges.

The second disadvantage of getting into a pension plan is that new regulations do not allow you to surrender the policy and get the surrender value in case of an emergency.

As per the new regulations, in case you surrender, you can start annuity for the full amount or take one third of the fund value and use the remaining proceeds to purchase an immediate annuity from the same insurer.

Another option given is to utilise entire proceeds to purchase a single premium pension plan from the same insurer. Why settle for less when a public provident fund is offering you a tax-free return of 8.7 per cent? Besides, annuity proceeds are taxable in a pension plan

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online

Retirement fund body EPFO has settled 96.11 per cent of the claims filed during AprilJuly within the mandated 30 days period as per their citizen charter.

A review of the performance of the Employees' Provident Fund Organisation (EPFO), revealed that the proportion of claims settled within the 30 days period has increased from 88 per cent in the entire 2012-13 to 96.11 per cent April-July this year.

The review conducted by EPFO's central provident fund commissioner K K Jalan also revealed that in the month of July alone, 10.83 lakh claims were settled and out of that 10.66 lakh claims were settled within 30 days. Thus, 98.43 per cent claims in July were settled within 30 days.

In a bid to reduce the time consumed in the settlement of claims, EPFO has also planned to launch facility of online settlement of transfer of PF accounts on changing jobs in the next weeks. This would benefit over 13 lakh such applicants every year.

Besides, EPFO disposed 20,668 grievances in the month of July this year as compared to 13,414, which was the average for the preceding three months.

The grievances are being accorded the top-most priority and appropriate instructions are issued to all filed formations. The internetenabled EPF grievances management system has also been reactivated and about 96 per cent of the grievances registered through the portal have been disposed, Jalan said

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online