Reliance Mutual Fund recently got the government nod to launch a pension plan. This is the third such plan from a fund house. The first two — from UTI MF and Franklin Templeton MF — were launched 15 years ago. The fund house’s plan is the first to offer an aggressive equity option to investors. Its Wealth Creation Plan option will invest anywhere between 65 per cent and 100 per cent of the corpus into equities and up to 35 per cent in debt and money market securities. The two existing pension schemes, Franklin India Pension Fund and UTI Retirement Benefit Pension Fund, invest up to 40 per cent in equities and the rest in fixed income instruments.
Categories: Mutual Fund, Personal Finance, Retirement Planning
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