POSTED BY November 20, 2011 5:29 pm COMMENTS (3)ON
I have been investing in SBI Pension Policy Plan B since 2004. I have opted to Rs. 10K annually, for 18 years term.
As per the information provided during the time I chose the policy, I was told that the corpus would grow to about 293K at the end of the term. I intend to leave the money to grow with them for the next 10 years and then plan to take pension.
As per the agent’s calculation, I am told that the monthly pension would be about 4.2K per month. I wanted to know if this estimation is reliable?
I also was told that I could inject additional sum in the premium period. I am planning to inject some funds in the next few months, considering this to be a debt instrument. I would like to make lumpsum injections often, which would enable me to put up a corpus, to get me a monthly pension of about 7.5K, from this investment instrument.
Is this a good thought? Appreciate your responses.