Use our Portfolio Manager
 to generate:

    - Insurance Chart
    - Cash Flow Chart
    - Premium Calendar

  Insurance Counsellor
  Calculators
   Log in

   Need for Insurance
  Insurance & Tax
  Retirement Planning
  Insurance as Investment

Home / Saving Schemes

Retirement Benefit Plan of UTI

UTI launched the Retirement Benefit Plan (RBP) in the last week of December 1994. Under RBP, investors can qualify for income tax rebates thanks to Section 88. RBP Bonds are available to all individuals, including non-resident Indians too. And there is no minimum or maximum limitation on the age for the bonds.

Retirement Benefit Plans are available throughout the year except during the time of book closure once a year, which might last for around 2 months. Sale prices are based on the NAV-based price prevailing on the date of contributions.

Once the account holder touches 58, his pension will be submitted to him on a monthly basis. The overall minimum investment has to be worth Rs.10,000/- and should be contributed in not more than 20 installments before attaining the age of 52 years.

After completing 70 years, repurchases are allowed at NAV plus income till the immediately preceding month of repurchase. This repurchase will be at NAV and not at NAV-related prices.

Hopefully, the investor will be allowed to treat this as long-term capital gains. And at this stage, he will be entitled to claim the benefit of rebate for senior citizens. Premature repurchases will be allowed at NAV less 10 percent.

| Back | Top | Home |