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Posted in Community :

Secure the future - Insurance

 
Started by : Niranjan Meena, Actuary Manager, LIC   02 13 2010 07:10:38 +0000
Industry : InsuranceFunctional Area : Performance Management(People Management)
Keywords : retirement plan
Activity:  33 views;  last activity : 07 06 2010 20:18:09 +0000

Retirement savings plan is an essential part of your future financial security. It is important to understand how our plan works and what benefits we will receive. Just as we would keep track of money that we put in a bank or other financial institution, it is in our best interest to keep track of our retirement benefits.

Those responsible for the management and oversight of our retirement plan must follow certain rules for operating the plan, handling the plan’s money, and overseeing the firms that manage the money. We should also understand and monitor our retirement plan and our benefits. We will find Action Items in each chapter to assist you in doing this.
 
So users, I would like to ask you all, according to you people, what one should know about his retirement plan?

 
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1 2 3
1 Types Of Retirement Plans
2 Amount needed to lead your life comfortably
3 Depends on buasiness and past Savings

Types Of Retirement Plans

idea posted by Niranjan Meena Actuary Manager, LIC

The first step to understanding retirement benefits is to find out what kind of retirement plan our employer has. There are mainly two kinds of retirement plans

1) A defined benefit plan

2) A defined contribution plan

Either of the two plans can be chosen

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by manju gusain, Underwriter, LIC of INdia  | 02 15 2010 17:26:35 +0000

one should be aware of different avenues of investment so that after certain year of investmetn a required wealth is accumulated which will yeild a specific amount of mly return .

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Amount needed to lead your life comfortably

idea posted by Aditya Sharma Insurance Advisor/Analyst, LIC OF INDIA, ICICI LOMBARD

Not only Retirement plans but the amount needed to lead a comfortable life after your retirement. You might ivest in retirement plans. O.K. But there are other areas also. Like investing in property. which might give you returns far better than the retirement plans. Though one might say being a insurance advisor how and why I am giving the advise to invest in property. It is only for those of you who can afford to buy and have the guts and the stamina to maintain the property.

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Depends on buasiness and past Savings

idea posted by Patodia Vinod Hariprasad Controller - VG Automotive, Eaton Industrial Systems P.Ltd
It depends on Income, future business, Family culture and past savings.
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