UBL Retirement Savings Fund (URSF)
Retirement is an opportunity to enter a new phase of your life. With UBL Retirement Savings Fund you can ensure a financial independent and care free life even after you stop working.
Plan now, Retire later
Generally, saving for retirement may not be your main priority when you start work or even 20 to 30 years from your expected retirement age. Retiring may seem like a long way off right now. However, whether you would like to enjoy life’s luxuries or live a basic lifestyle in the future, a retirement plan is necessary. No matter what your retirement dream may be, it is important to continually build your savings so you can be financially secure as you grow older.
How UBL Retirement Savings Fund can help
The objective of having a retirement plan is to ensure that you accumulate enough savings to replace your current income. Most of us encounter difficulties in setting aside a lump sum amount for our retirement as there may be commitments to prioritize, such as financing our home, children’s education and meeting regular expenses.
UBL Retirement Savings Fund is a customized pension plan designed to offer you with an easy and affordable means of growing your savings so you can achieve a financially independent and rewarding life after retirement. You can open an account in UBL Retirement Savings Fund with just Rs. 500 and then invest a regular amount of money in your plan until the time you plan to retire. On reaching your retirement age, you can access 50% of your accumulated savings in lump sum while getting the remaining amount as regular income on a periodic basis.
Features & Benefits
- Start investing with as little as Rs. 500 – We have made the first step easy by enabling you to save towards your retirement with as low as Rs. 500/- only
- Lump sum & Regular Contribution Option – You can choose to invest a lump sum amount or invest regularly on a monthly, quarterly, semi-annual or annual basis
- Flexible allocation schemes to match your needs – We understand that everyone is different and one option may not suit everyone. That is why we offer a number of investment ‘allocation schemes’ that you can choose from. Our investment advisors will help you determine the most appropriate scheme by taking into consideration your current age, retirement goals, risk appetite and return expectations
- Attractive tax benefits – You can avail a tax credit on your investment, resulting in an overall saving on your income tax deductions for the year To find out how much tax credit you can get, use our Tax Savings Calculator. That’s not all, you can withdraw a substantial amount from your funds without any tax deductions at the time of retirement (as per VPS Rules/Tax Law)
- Free Takaful Coverage: You can avail free Life Takaful coverage on your investment in URSF. This provides your family with additional security in case of demise of the breadwinner. Free Family Takaful, offers coverage equal to the cumulative value of your investment as of the preceding month. Your Takaful coverage grows as your investment grows with a maximum limit of Rs. 5,000,000. For more details and FAQs related to Free Takaful Coverage please visit https://goo.gl/1UQqxg
- Post Retirement Benefit: You will have following options at Retirement – You can withdraw up to 50% cash tax-free from your retirement balance, Purchase an annuity with the balance or Enter into an approved Income Payment Plan up to a maximum 75 years age and then purchase an annuity from a life insurance company.However, everyone may not need full 50% cash lump-sum at the time of retirement Equation is simple – the less you wish to withdraw as Cash lump-sum (i.e. at the time of retirement, the more Pension Income you will be able to receive post retirement.