You can offer a beneficial retirement plan to your employee by joining hands with Multiple Employer Plan.
Retirement is a strong word that can be a total nightmare for your employees because retirement means no fixed salary, no income plus all the constant expenditure. It is time that you, as a responsible employer start preparing your employees for retirement so that they can have a happy life after retirement. Life after retirement should be tension free and full of fun so ensure that for your employees who’ve worked so hard for you all these years to make sure that your company can develop. Your employees are your asset and keeping that in mind is very necessary.
Mutual funds
Encourage your employees to invest in mutual funds that are also known as “retirement income funds” or “income placement funds”. In this, the retiree gets full benefits because the assets are preserved, and priority to income and growth is given. With mutual funds, the retiree is likely to get positive returns that are either above or at par with the prevalent market inflation rates. Inflation-adjusted gains are what makes mutual funds lucrative. Besides, the asset also grows and the retirement fund isn’t that much exposed to market risks. You can guide them to invest a certain portion to equity mutual funds – this way they can focus on getting steady returns instead of aiming for options that are volatile.
Senior Citizens’ Saving Scheme
You can also educate employees about the different schemes available in the market such as the SCSS or the Senior Citizens’ Saving Scheme. Anybody who is above 60 can avail this scheme. The current rate of interest under this scheme is 8.6 per cent per annum and this is fixed for five years also after the scheme matures the retiree can extend it for three more years. A retiree can invest up to 15 lakh under this scheme also the retiree will be able to open more than one account if need be. The high rate of interest will ensure a steady flow of income and the retiree will be tension free because even if the interest rates fluctuate, this is a flat rate which will remain the same till the tenure lasts. SCSS ensures tax benefits as well under section 80C and if the money can be withdrawn anytime as per the requirement of the retiree.

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URL : https://www.comparteinvest.com

Blog ID : 248344

Category : Business

Date Added : 27-11-2019

Tags : different | invest

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