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Conventional Pension Plan
Conventional Pension Plan
Have you ever thought about your retirement? Our Personal Pension Plan will help you enjoy your retirement while maintaining your standard of living. A Personal pension plan is a means whereby you can set aside a proportion of your earnings whilst you are working. By this measure, you can ensure that you receive an "income" from a selected retirement date. This "income" will be paid to you for as long as you live.
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Benefits and Features
- There is no upper limit to the amount of premium that can be paid into the Personal Pension Plan
- No need to retire from your normal employment in order to collect the benefits of your Personal Pension Plan
- There is portability, which means that, even if you changes job(s), the Personal Pension Plan will always remain with you
- The Personal Pension Plan will participate in the profits of Anglo-Mauritius
- On the Selected Retirement Age, you can choose either:
- full pension benefit
- or a tax-free lump sum plus reduced pension and life assurance benefit
- The flexibility of choosing the Selected Retirement Age
- Early retirement at 55
- Normal retirement at 60
- Late retirement at 65
- A Guaranteed Monthly Pension from the Selected Retirement Age and continued during the lifetime of the policyholder.
- A Guaranteed Life Assurance amount from inception until age 75 or 90
Choice of term
You can select your retirement age, which can be either 55, 60 or 65 years. A guaranteed monthly pension will be payable from your Selected Retirement Age and throughout your lifetime
Life Assurance
You will benefit from a Life Assurance cover up to the age you will have chosen, either 75 or 90 years
Paid-up Value
After premiums have been paid for 36 months, a Paid-up Value can be acquired. If you cease the payment of your premiums, the reduced benefits will be frozen and paid on reaching your retirement age
Choice of benefits
At your retirement age, you can opt for a tax-free lump sum up to 25% of the proceeds. The monthly pension and the Life Assurance cover will be reduced accordingly
Death Benefits
Guaranteed life assurance benefit plus bonuses accrued up to the date of death
* This information is intended as a general summary of the key features of our insurance policy document. Please refer to the insurance contract for exact terms and conditions.
