Tata Retirement Savings Fund – The fund for Retirement

Posted By:
Subscribe to GoodReturns

Tata Retirement Savings Fund
With the increasing number of senior citizens in our country and changing lifestyles of the people, where joint families have been replaced by nuclear ones, it is difficult for the people to depend on children. Though we all know we want to save for our retirement, but how much? Nobody knows! Retirement, is one of the very important buzz which comes in the mind of every individual when he starts earning.

To cope up with the needs of the investor, Tata Mutual Fund is coming up with the new mutual fund scheme named as 'Tata Retirement Savings Fund'. The scheme will serve purpose of 'retirement planning' for the investors in different age brackets.

The scheme will be available in three options to investors with an auto-switch facility. The three options are – Progressive plan, Moderate Plan and Conservative – with varied percentage of equity and debt assets.

Announcing the NFO, Sanjay Sachdev, President & CEO of Tata Asset Management Limited, said: “Tata Retirement Savings Fund is specifically designed keeping in mind the young and middle aged working generation. The fund is tailor-made to support the monetary needs of investors post their retirement so that they can meet the 30:30 challenge. With increasing life expectancy, one can assume a post retirement life of 30 years after 30 earning years. The challenge clearly is the ability to maintain the same life style post retirement.”

With the auto-switch facility, investors can adjust their portfolio with the increasing age.

The scheme also provides an additional facility i.e. Auto-Systematic Withdrawal”, which will provide the investors regular cash flows after they reach 60 of their age.

Auto-Systematic Withdrawal facility comes with two different options of Monthly and Quarterly withdrawal, Monthly withdrawal will provide 1% of market value of investment as on date of completion of 60 years of age, while Quarterly withdrawal will provide 3% of market value of investment as on date of completion of 60 years of age.

The new fund offer (NFO) will be launched on October 7, 2011 and will be closed on October 21, 2011.

GoodReturns.in

Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?