Recent pension plans alterations introduced by the Insurance Regulatory & Development Authority of India (IRDAI) is completely in favor of the policyholders. It has got lots of aspects which a policyholder can leverage in the best possible way.
Boost in Maturity Withdrawal with Tax Comfort & Partial Extract
Now a policyholder can take better returns on maturity from 33% to 60%. These withdrawals on the maturity of the policy are tax-savvy as well. You also have the flexibility of withdrawing your investment after the locking period of 5 years. This interim withdrawal within the policy term is allowed only thrice with the maximum withdrawal of 25% on the total fund amount. In most of the retirement plans, the amount can be withdrawn during a few occasion only as follows.
Wedding of Children
Buying or Renovating New Accommodation
At the time of Critical illness of Self or a Spouse
These changes in the pension plan can surely offer added benefits to your pension investment plans.