Skip to main content

Pension and Insurance for NRIs - Pension and Life Insurance Fund

Current open Infra Bond Application form

 
Buy Tax Saving Mutual Funds Online
 


   Recently, the government announced a new pension and life insurance scheme for NRIs. The scheme allows over five million workers, especially those working in West Asia, to save money for the future. The scheme is called Pension and Life Insurance Fund (PLIF).


   The scheme encourages overseas workers to voluntarily save money for their return and resettlement in their later years. The scheme will also provide a low-cost life insurance cover against natural death. This scheme fulfils a long pending demand of those working abroad. Under the scheme, the government will contribute Rs 1,000 per annum for all subscribers who contribute between Rs 1,000 and Rs 12,000 per year. Women working overseas will get a special additional contribution of Rs 1,000 a year from the Ministry of Overseas India Affairs (MOIA).


   The scheme will be of great help to those working in 'emigration check required' countries. According to the government, around 20 percent of overseas workers in these countries are women. They are vulnerable to uncertainty due to lower income, a shorter working age and periodic interruptions in employment due to family responsibilities. This fund will be used to contribute partly to a pension and insurance cover for these workers.


   A special 'returns and resettlement contribution' of Rs 1,000 by the MOIA will also be given to those working overseas who contribute Rs 4,000 per annum towards the Returns and Resettlement Scheme. This scheme will provide social security cover to those working overseas.


   These workers have been excluded from access to formal social security and retirement savings schemes available to residents of the 'emigration check required' countries. They are similarly excluded from pension and social security schemes available to formal and informal sectors' workers in India. 

   The scheme is expected to benefit over five million unskilled and semi-skilled workers employed overseas on temporary contract visas. The new scheme is entirely voluntary. It is only for those who want to take it.


   Workers will be required to contribute partly for their pension and insurance cover. Only those workers who take proper immigration clearance before going abroad will be covered under the scheme. The scheme provides an opportunity to workers who don't get a high salary to accumulate savings for a resettlement when they return to India. It also provides life insurance cover for a specified period in case of natural death.


   This will provide the much-needed social security cover for those working overseas, and not covered under any kind of social security schemes. On returning to India, they will have a fixed source of income by way of pension as well as insurance to cover their urgent needs. Being a contributory scheme, they will be encouraged to save and participate in it.
 

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

 

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. HDFC TaxSaver
  2. ICICI Prudential Tax Plan
  3. DSP BlackRock Tax Saver Fund
  4. Birla Sun Life Tax Relief '96
  5. Reliance Tax Saver (ELSS) Fund
  6. IDFC Tax Advantage (ELSS) Fund
  7. SBI Magnum Tax Gain Scheme 1993
  8. Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

 

Submit filled up application    Collection canter near you

 

 

------------------------------------------------
How to apply to IRFC Bonds?

Apply for IRFC Tax Free Bonds forms below

Download IRFC Tax Free Bond Application Forms

Submit the filled up form to Collection canter near you

------------------------------------------------
How to apply to HUDCO Bonds?

Apply for HUDCO Tax Free Bonds forms below

Download HUDCO Tax Free Bond Application Forms

Submit the filled up form to Collection canter near you

 

------------------------------------------------
How to apply to REC Bonds?

Apply for REC Tax Free Bonds forms below

Download REC Tax Free Bond Application Forms

Submit the filled up form to Collection canter near you

Popular posts from this blog

Birla Sun Life Mutual Fund Launches Birla Sun Life NIFTY ETF

Birla Sun Life has launched a new fund namely, Birla Sun Life Nifty ETF, an open ended exchange traded fund. The new fund will be open for subscription from 4th July to 18th July 2011, at an offer price of Rs 10 per unit. The investment objective of the scheme is to generate returns that closely correspond to the total returns of securities as represented by S&P CNX Nifty, subject to tracking errors. No exit load will be charged under the scheme. The performance of the scheme will be benchmarked against S&P CNX Nifty and will be managed by Satyabrata Mohanty.   -----------------------------------------------------------------   Also, know how to buy mutual funds online:   1) DSP BlackRock Mutual Funds: http://prajnacapital.blogspot.com/2011/05/buying-dsp-blackrock-mutual-funds.html   2) Reliance Mutual Funds: http://prajnacapital.blogspot.com/2011/06/buying-reliance-mutual-funds-online.html   3) Birla Sunlife Mutual Funds: http://prajnacapital.blogspot.com/2011/...
Read more

Mutual Fund Exit Load Changes

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Mutual Fund Exit Load Changes AMCs don't communicate about any change in exit load directly with investors, but do update on their website   The exit load applicable to your investments is the load which existed at the time when you invested in the particular fund. Any subsequent changes in the exit load will not be applicable to your investments.   However, Asset Management Companies ( AMCs ) periodically publish addendums in the newspapers, which state any change in exit loads of specific schemes managed by them. Such changes are also posted on their websites. However, a direct communication to an investor is not made, considering the costs involved in doing so. In their own interests, investors should not only track the performance of the funds they i...
Read more

Mutual Fund Reivew: Birla Sun Life Asset Allocation Conservative

Birla Sun Life Asset Allocation Conservative has numbers on its side to prove its credibility… Don't be surprised to find this Fund of Funds ( FoF ) in our recommendations. It has earned its place. And despite the difference in the structure of the product, there is no arguing with the numbers.   Of the total 6 years of its existence, the fund has been among the top 10 funds in its category in four of them. Last year it put up an average show and the only year it underperformed its peers was in 2008.   One aspect to look at when investing in an FoF is the expense ratio. The expense ratio of an FoF is capped at a lower limit of 0.75 per cent (2.50% for an actively managed fund). However, the FoF not only has its own expense (though lower) but even the expense ratio of the fund it is investing into. Fortunately, the fund manager takes that into account. "Expense is one of the important criteria used for fund selection and is the main reason for our investment in BSL Ind...
Read more

Short-Term Bond Funds

These are schemes that invest in fixed income instruments of short durations. Short-term bond funds with less than one year duration are good investment options provided you have a one-year investment horizon. Lower average maturity of the fund ensures that the fund NAV is not hit much when short-term interest rates move up. We expect the RBI to hike the policy rates by 50 to 75 basis points in this calendar year. That makes it a bit tricky for short-term bond fund investors. Check the average maturity and exit load before you invest in a short-term bond fund. As a rule of thumb, the average maturity should be less than your investment time frame. Some funds do charge an exit load if you log out early. To avoid such a cut in the returns earned, it is better to check at what threshold of time the fund charges an exit load. The funds have a wide range of 'exit load' thresholds. Some charge an exit load if you were to redeem units within 90 days, while there are some that let ...
Read more

Short-Term Investment Options in Mutual Funds

Mutual funds offer liquid funds and ultra short term funds in the debt category, which are suitable for short investment periods. Ultra short-term funds were earlier known as liquid plus funds. Liquid funds invest in money market instruments with a maturity of 91 days or less. However, there are no such restrictions for ultra short-term funds. Who should invest in these? These are open-ended schemes. Investors with a short investment horizon or with surplus cash and low risk appetite should look at these. These could include corporate as well as retail investors. Those interested in staying invested for less than 15 days can opt for liquid funds. Retail investors who want to remain invested for two-four months, can look at ultra short-term funds. The short duration for both liquid and ultra short-term funds shields them from any interest rate volatility.   What kind of returns do they offer? In terms of an investment period less than 15 days, these funds are comparable to a ba...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now