Why do I need a Retirement Plans?

1
Why do I need a Retirement Plans?
2

• Retirement Plans ensure that you lead your life
  on your own terms even after retirement, doing
  things what you always have been doing. Our
  innovative plans provide options to choose your
  retirement age and to control the way your
  investments are managed to meet your retirement
  needs.
• Retirement plans provide you with financial
  security so that when your professional income
  starts to ebb, you can still live with pride
  without compromising on your living standards.
  Given the high cost of living and rising
  inflation, retirement planning has become all the
  more important.

3

• India's average life expectancy is slated to
  increase to over 75 years by 2050 from the
  present level of close to 65 years. Lifespans
  have been increasing due to better health and
  sanitation conditions in the country. However,
  the average number of years of employment has not
  been rising commensurately. The result is an
  increase in the number of post-retirement years
  without regular income. Therefore it is more
  critical now than ever before to ensure regular
  income for life after retirement.
• Is social security enough?
• Ask most individuals about how they are likely to
  fare in post-retirement and the first thing they
  mention is the provident fund.
• The public provident fund (PPF) or the employees
  provident fund (EPF) is unlikely to be enough for
  the individual let alone his family.
• Even if we consider the provident fund,
  statistics reveal that only about 10 of Indias
  working population has any form of social
  security like provident fund. Self-employed
  individuals, professionals such as lawyers,
  doctors and accountants, employees in the
  unorganized sector have nothing to fall back on
  in an emergency.

4

• What about inflation?
• A big question to ask yourself is will my
  post-retirement finances withstand inflation?
• Inflation has a dual impact on your hard-earned
  savings. Inflation not only erodes your current
  purchasing power but also magnifies monetary
  requirements for the future.
• The many financial priorities in your life are
  all at the mercy of inflation.
• So, what should you do to counter this? It's time
  to plan your Retirement Plans and that too sooner
  than later.

5
Click to know more on Retirement Plans
https//www.bajajallianz.com/Corp/retirement-plans
/retirement-plans.jsp
Thank You
6

• The above illustration shows how with each
  passing year your annual savings requirement
  would increase. For instance, if you are 30 years
  old and plan to retire at the age of 60, then,
  with current annual expenditure of Rs 3,00,000,
  you would need a corpus in excess of Rs
  2,00,00,000 to maintain your living standards,
  assuming you live till 85 years and the inflation
  rate is 4. To build this retirement corpus, you
  need to invest Rs 3,60,000 per annum in a
  retirement plan that offers 8 returns per annum.
  In case you delay planning your retirement by 5
  years then the investment amount would increase
  to Rs 6,90,000 per annum.

7
Follow us on
https//www.facebook.com/bajajallianzlifeinsurance
ltd
https//www.linkedin.com/company/bajaj-allianz-lif
e-insurance-co-ltd-
http//plus.google.com/bajajallianz/posts
https//twitter.com/bajajallianzLIC
https//www.youtube.com/user/jiyobefikar
https//instagram.com/bajajallianzlifeinsurance
8
Click to know more on Retirement Plans
https//www.bajajallianz.com/Corp/retirement-plans
/retirement-plans.jsp
Thank You