Hi guys !
I hope I’ve posted this in the right place. This is regarding the retirement income for my mother who has just recently retired but had not really planned to create a proper corpus for retirement.
Her Employer will issue a pension of 5,000 pm, I wish to have a monthly income source of at least around 30,000 pm for her. When i got to the bank they always give me the usual jargon of the new pension scheme in spite of telling them that she has already retired, they do not seem to understand that she cannot wait for a 5 yr vesting period.
What I need right now is an investment avenue that has the option of one time lump-sum payment with immediate payouts. This should last for at least 15 to 20 yrs by which time i can provide for her monthly expenses. Please suggests places that i can go to and plans that I can ask for .
Thank you for all your help and assistance.