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 SBI Pension Plan
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SBI Pension Plans are designed for the people who retire from work but do not want to lose their financial independence. State Bank of India pension plans help you meet your post retirement financial needs. The various SBI pension schemes available include Horizon II Pension Plan, Unit Plus II Pension and Life Long Pension Plan. The SBI Life Retirement Plans include CapAssure Gratuity, CapAssure Superannuation Scheme, CapAssure Leave Encashment Scheme, Group Immediate Annuity plan, and SBI Life Golden Gratuity Plans.
Under SBI Horizon II Pension Plan, your money is invested in equity, bond or money pension funds. The investment plans also vary according to the proportion of money invested in equity funds. In case of SBI Unit Plus II Pension Plans, you get to choose between pure pension and pension cum life cover plans with flexibility to increase regular contributions, top up payments and customize the plan by addition of riders. Investment in SBI Life Long Pension Plans helps you avail tax deduction of up to Rs. 1, 00, 000 p.a. with 4 % p.a. minimum guaranteed returns and tax-free withdrawals of up to 33 % from the Personal Pension Account. |
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SBI Life Insurance Co. Pvt. Ltd. provides these pension plans as individual plans. For group employee benefit plans, SBI Life presents retirement solutions including CapAssure Gratuity under which the funds invested accumulate on conventional investment patterns and the investment income earned at year-end is credited to the gratuity fund account. Other products are CapAssure Superannuation Scheme that entitles the pensioner for certain benefits mentioned under the retirement plan rules, CapAssure Leave Encashment Scheme that guarantees the investments and offers additional fundings, Group Immediate Annuity Plan, and SBI Life Golden Gratuity Plan that is an annually renewable unit linked plan.
For further details on the eligibility, application, interest rates, terms, and the returns on various investments in individual or group pension and retirement plans, refer to the SBI Life official website. For details on banking products and services by State Bank of India and investments products like SBI Mutual Funds , visit our dedicated pages on each.
Website:http://www.sbilife.co.in/sbilife/application
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