UTI Mutual Fund, Srei Sahaj pact for micro-pension fund

The initiative will help inculcating the habit of regular savings among members

UTI MF teamed up with Srei Sahaj e-Village for providing an investment opportunity to village level entrepreneurs and other similar category of eligible investors associated with Srei Sahaj. UTI will work in association with Srei Sahaj e-Village (popularly known as Srei Sahaj) across six states: Assam, Bihar, Orissa, Tamilnadu, Uttar Pradesh and West Bengal through a micro-pension initiative under UTI-Retirement Benefit Pension Fund.

Jaideep Bhattacharya, group president and CMO, UTI AMC said, "The micropension initiative will help in inculcating the habit of regular savings among members, which will help them in planning for their future and will also enable them to share the benefits of growth of the Indian economy."

The investors will contribute minimum amount of Rs 200 every month towards UTI-Retirement Benefit Pension Fund so as to enable them to receive pension in the form of periodical income/cashflow after they reach the age of 58 years.

Meena Chaturvedi, CEO, public services and e-learning, Srei Sahaj, said, "This initiative aims to provide a periodical stream of income generated out of small savings invested by creating group saving synergies and by bringing in benefits of investments in capital markets with the help of seasoned fund managers of UTI MF ."

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