Pension planning

[nallan]

I am retiring in august 2010.

I want to invest my retirement benefits and accummulatrd savings in mutual funds from where, I can get monthly 30,000 rs.

how much is needed for that?
can anybody advise me suitable funds to invest.
I request knowledgeable forum friends to give theur suggestion.


apart from above, i wish to keep some 3.0 lakhs in trading account for trading delivery based trading.

I cam across on portfolio management firm by name fiiBigbeast. they claim they are conglomeration of nine portfolio managers working to-gether. together they are managing 100 crores.
They recoomend positional calls and BTST on daily basis.
They do not charge lumpsum base. per call base, they charge 25% of profit as fees. settlement to be done per call base. in case of any loss, that can be set off in the next advises till the loss is compensated.

I wish to know anybody has experience with these people and inform how much these are reliable.

Thanks in advance to all suggestions given

 

[adinnhall]

Individuals that have worked in the UK and have paid certain levels of national insurance deductions can expect an income from the state pension scheme after their normal retirement. The state pension is currently divided into two parts: the basic state pension, State Second Pension scheme called S2P.

 

[harrywatson66]

Retirement plans are frequently classified as defined benefit or defined contribution according to how the benefits are determined. A defined benefit plan guarantees a certain payout after retirement, according to a fixed formula which usually depends on the member's salary and the number of years' membership of the plan.

 

[pritamcnaik]

hi sir ,
25 % of fees looks too high , for ur pension needs u could use new pesion scheme by goi where they have 8 fund managers like reliance capital and sbi
link http://www.justtrade.in/FinancialPlanning/FinancialPlanning.aspx?id=7&pageopt=NPS , other to go for would post mis

u would require about 50 lac if u want a pension from debt investmetns , if from blend of equity and debt around 35 lacs
Check the link to find out how much http://wealth.moneycontrol.com/jtretirement.php

 

[sunil2302]

How is government's new pension scheme (nps). I am 42 now, and i want to invest 25000/ per year for 20 years. Can anyone suggest how does it work?

 

[AW10]

check out this link for the info.

http://www.onemint.com/2010/09/27/a-primer-on-the-new-pension-scheme-nps/

as far as I understand, in your application, u can select a nps recommended fund house (sbi, uti, icici etc) who should manage your money. The fundhouse has a fund to cater the specific asset allocation choice and they declare their NAV on regular basis.

In my view, going forward, NPS will replace 80CCC section choices like ulip/infrabond etc.

In the UK/US , people /employer contribute towards their pension fund. On retirement age, part of the kitty (25%) can be withdrawn as lumpsum and everybody has to buy annuity from recognised providers for remaining 75%. This annuity ensures that people keep getting regular credit entry in their bank account.
I think, with we are heading in the same direction.

In these countries, it is possible that people can manage their own pension fund.. i.e. they can be their own pension fund manager (known as self invested pension plan or SIPP). Many smart individuals go for SIPP route where they can let their fund grow at much faster rate then some 3rd party fund manager.

Happy pension planning.