The four investment plans of SBI Retirement Benefit Fund, amongst the existing 21 retirement schemes in the category from eight Fund Houses, are well diversified in terms of investment asset class that it would invest.
SBI Retirement Benefit Fund is a solution-oriented fund that offers exclusive features like life cover up to a maximum of Rs. 50 lakh per investor on SIPs registered with a tenure of 3 years plus, The fund offers insurance benefits (along with SIP), in case of an unfortunate event the nominee stands to get the benefits as mentioned below: Year 1: 20 times the monthly SIP instalment or Rs. 50 lakhs whichever is lower, Year 2: 50 times the monthly SIP instalment or Rs. 50 lakhs whichever is lower, Year 3: 100 times the monthly SIP instalment or Rs. 50 lakhs whichever is lower and 4th year onwards: 100 times the monthly SIP instalment or Rs. 50 lakhs whichever is lower.
Any investor between the age of 18 and 52 years can avail this facility. SIP of minimum Rs 1000 per month is required to be eligible for this facility. While the SIPs may continue under the perpetual SIP, the insurance cover will stop (as per the terms and conditions of SIP insure) once the investor reaches 55 years of age.
The fund offers four investment plans – Aggressive (equity-oriented), Aggressive Hybrid (equity-oriented), Conservation Hybrid (debt-oriented) and Conservative (debt-oriented).
The scheme also offers option of two investment facilities of auto transfer to help optimise the retirement corpus and my choice, and quarterly systematic withdrawal facility (post applicable lock-in of five years of attainment of retirement age, whichever is lower).
The Fund Managers for the SBI Retirement Benefit Fund would be Mr. Gaurav Mehta (Equity), Mr. Dinesh Ahuja (Fixed Income) and Mr. Mohit Jain (Foreign securities).