Pension Plan is a type of retirement plan. If you are eligable when you retire your company pays you money monthly or quarterly usually. I would have to look at the plan to give you more detual...but it is a form of retirement plan. _________________ ~Monique~
Hi paulsoninjust, pension plans help you to build assets to secure your retired life. You can choose a plan from the existing plans in the market and invest on a regular basis till the age you retire. Upon attaining the retirement age you will receive annuities from the plan. Depending upon the nature of the policy you have chosen, you can either receive the entire retirement amount in lump sum or can receive it as monthly allowance.
Posted: Thu Nov 01, 2007 6:20 am Post subject: Welcome!
Hi paulsoninjust,
nique1221 is absolutely right!
It is nothing but an income scheme that gets you the normal flow of life through a monthly income-like stable payment process that you may look forward to after you retire. This is just an effort to let someone feel secured for the later part of his life & thus store a part of his income now for all those uncertain years. Hope you got it now, Fatman
Hey there, just don't forget that your premium contribution for the entire tenure should not create a fund that differs too much from the contributions towards you from their end. Thats it!
ColRadderblue _________________ Register Now to have your Insurance queries solved.
Pension Plan is a type of retirement plan.pension plans help you to build assets to secure your retired lifethat for sure as i know.
If you are eligable when you retire your company pays you money monthly or quarterly usually but as to say Depending upon the nature of the policy you have chosenyou can either receive the entire retirement amount in a lump sum or you do receive it in form of ur monthly wages.
