Funds for Retirement Planning

With a huge range of funds and schemes in the market for all kinds of investors, it becomes a pain to make the right choice. This article will lead you to some of the best funds for Retirement Planning in 2022 for investment and make your investing life easier.

Best Funds for Retirement Planning in 2022

Here is a list of a few funds that will help in planning the retirement of the investor in a better way:

1. Aviva Secure Pension

   Aviva Secure Pension ULIP (Unit Linked Insurance Plan) is a traditional pension plan that gives the opportunity to investors to save regularly during the earning years and guarantees a fixed pension amount after retirement. This plan offers a guaranteed addition of Rs. 30 per Rs. 1,000 sum assured in the initial 3 years of the plan.

   Parameters	Minimum	Maximum
   Annual Premiums	Rs. 5000	No limit
   Sum Assured	Rs. 1,00,000	No limit
   Policy Term	10 years	40 years
   Premium Payment Term (PPT)	Equal to Policy Term
   Entry Age	18 years	60 years
   Maturity Age	40 years	75 years
   Death Benefit	Sum assured + Vested guaranteed additions + Simple revisionary bonus Benefit paid as a lump sum or used to buy an annuity.
   Maturity Benefit	Sum assured + Vested guaranteed additions + Simple revisionary bonus + Terminal bonus (if any).
   Tax Benefit	Premiums paid are eligible for deductions under Section 80CCC.

2. HDFC Life Single Premium Pension Super Single Premium ULIP

   HDFC Life Single Premium Pension Super Plan is a market linked, single premium, a unit linked deferred annuity pension plan that offers insurance plus investment options to its customers. This plan is beneficial to investors looking for a long-term retirement plan along with high returns on the invested amount.

   Parameters	Details
   Entry Age	40 years - Minimum 75 years - Maximum
   Maturity Age	50 years - Minimum 85 years - Maximum
   Policy Term	10 years
   Maturity Benefit	Higher of fund value till the end of the tenure or 101% of the single premium (including top up premiums paid, if any).
   Death Benefit	Higher of Fund value till the end of the tenure or 105% of the single premium (including top up premiums paid, if any).
   Surrender Benefit (before the completion of 5 years)	Fund value - Charges for discontinuation and payouts with accrued interests after 5 years.
   Surrender Benefit (after the completion of 5 years)	The fund value is paid out immediately.
   Free look Period	If purchased online - 30 days If offline - 15 days

3. ICICI Prudential Retirement Fund Pure Equity Plan Direct Growth

   ICICI Prudential Pure Equity Plan is a solution oriented retirement plan that comes with a 5-year lock-in period. This fund involves moderately high risk as the annualized 3-year fund returns are as high as 17.4%.

   Parameters	Details
   Minimum 1st time investment	Rs. 5,000
   Minimum 2nd time investment	Rs. 1,000
   Minimum SIP amount	Rs. 100
   Fund Manager	Manish Banthia Anuj Tagra Priyanka Khandelwal Lalit Kumar
   Annualized 1 year Returns	25.00%
   Annualized 3 year Returns	17.40%
   Lock-in Period	5 years

4. Kotak Capital Multiplier Plan

   Kotak Capital Multiplier is a pure pension plan wherein total safety is guaranteed. It is not market linked as it is a pure traditional insurance plan that offers an additional bonus facility. This plan offers minimum guaranteed returns of 3% along with 6 additional rider benefits and other benefits, making it a decent plan to buy.

   Parameters	Minimum	Maximum
   Policy Term	5 years	30 years
   Premium Payment Term	Equal to Policy Term
   Entry Age	8 years	60 years
   Age at Maturity	-	65 years
   Regular Premium	Rs. 10,000	No Limit
   Payment modes	Monthly, Quarterly, Semi-Annually, Annually
   Death Benefit	During the accumulation phase: Basic Sum Assured + 10% of Sum Assured as death benefit + the remaining balance.
   	During the withdrawal phase: 10% of the Sum Assured as death benefit + the remaining balance.
   Maturity Benefit	Higher of: Basic Sum Assured or Accumulation Account within the 15 year period.
   Tax Benefit	Premiums paid up to Rs. 1,00,000 are eligible for deductions under Section 80C of the Income Tax Act, 1961.

To sum up!

There are a plethora of plans in the financial market, from non-linked to linked and from high risk involvement to guaranteed decent returns, as per the choice and requirements of the investor. This list of Best Funds for Retirement Planning in 2022 is helpful for investors of all types. It is important to understand the investment plan carefully before investing.

Happy Investing!