AMP Sanmar's Pension scheme Bhagya Shree yields 22%
By Venkatachari Jagannathan | 17 Jul 2003
Chennai: It's a pension scheme that doesn't even find mention on the company's website (www.ampsanmar.com), at least till the time this report was uploaded. But, according to AMP Sanmar Assurance Company, the individual pension scheme Bhagya Shree is performing well, thank you.
Launched in February 2003, the balanced fund of the Bhagya Shree pension plan (80 per cent of the fund is invested in government securities and 20 per cent in equities) has earned a return of 5.61 per cent during the quarter ended June 2003. On an annualised basis the return works out to 22.45 per cent.
The Bhagya Shree pension plan comes with built-in options in every aspect — flexible contributions with flexible top-ups, two innovative risk-cover options, two choices in investment plan with switch facility, exit options and also the flexibility to choose the annuity provider.
The scheme also offers add-on riders for accidental death and disablement benefits. Another feature is the option to go in for an early vesting period. Subject to a policy period of five years and a vesting age of 45 years, the customer can choose to advance the accumulation period from the earlier chosen period. On vesting, the pension product offers three annuity choices.