UK Pensions transfer to a QROPS in India - Exide Life Golden Years Retirement Plan

What is QROPS?

Indians who have worked in UK might have made some regular contribution from their income towards a pension fund. Now if they plan to move out of UK, the UK Government allows transfer of their pension funds tax free to pension schemes in India registered as QROPS.

QROPS stands for Qualifying Recognized Overseas Pension Scheme. It refers to overseas pension schemes which have been approved by Her Majesty's Revenues and Customs (HMRC), UK for transferring a UK pension fund 'tax free' to any other country. HMRC is the government body in UK that collects and administers taxes.

What is Exide Life Golden Years Retirement Plan?

Exide Life Golden Years Retirement Plan is a unique plan that helps you make your retirement years the golden years of your life by offering a host of benefits for building a substantial corpus. This is also a ‘Qualifying Recognised Overseas Pension Scheme’(QROPS). You can make the most of this scheme by transferring your UK Pensions to ‘Exide Life Golden Years Retirement Plan.

5 Reasons you should consider moving your pension funds from UK to India

1	Receive pension and other benefits in Indian Rupees
2	Benefit from better appreciation opportunity
3	Get 1/3rd of retirement fund tax free and use balance for life long pension.
4	Leave behind the unused retirement fund for your beneficiary without any tax liability
5	Benefit from our experience in managing a retirement corpus of INR 200 cr. under our erstwhile QROPS approved scheme Exide New Best Years

Who Should Consider?

·         Any Indian/PIO/OCI who has contributed to a pension fund (other than National Insurance Contributions) in UK and has either moved out or is planning to relocate outside of UK.

·         Only non-active pension funds can be transferred.

Key Benefits

1. Growth with minimum guarantee

Your Individual Pension Account (IPA) grows at an interest rate declared every year. It is determined subject to the performance of the fund. 
However, the minimum interest rate on your IPA is 5% p.a. for first 5 policy years and 1.5% p.a. for rest of the policy term. The interest once added in IPA is guaranteed to be paid.

2. Consistent Bonus Track Record (on Existing Retirement Plans)

Exide Life Insurance has demonstrated a consistent bonus track record by delivering an average interest rate of 8.54% p.a. over last 8 years on its existing retirement plans.

*Average bonus interest rate for retirement fund under Exide Best Years Plans over last 8 years. Interest rate declaration is subject to the performance of the fund. Past performance is not an indication of future performance.

3. Flexibility

This plan offers multiple flexibilities to help you plan your retirement as per your convenience.

a.                   Top-Up Premium: In addition to the regular premium, you can pay an additional amount during the policy term** to ensure your retirement fund grows faster.

2. Premium Payment Options :

·         Choose from Regular, Limited or Single Payment options.

·         Choose to pay premium monthly or annually.

·         Choose to decrease or increase the premium payment term by keeping the premium amount same.

c.       Postponement of retirement age: You may postpone your retirement age** depending upon change in your retirement planning.

4. Guaranteed Vesting Benefit

On completion of vesting term, you will get Guaranteed Vesting Benefit which is higher of:

·         Gross premiums including top-up premiums compounded @ 1% p.a., or

·         Individual pension account (IPA) value.

You may commute up to 1/3rd of the maturity amount tax free in cash and use the balance to purchase annuity from Exide Life Insurance to ensure a monthly income for your life time.

5. Loyalty Benefit

All premium allocation charges deducted are refunded to your Individual Pension Account on vesting (reaching the retirement age) once you have made a total premium payment of Rs. 4,80,000/- (does not include top-up premiums).

Tax Savings: All the premiums paid are tax free under section 80C.

Who should buy?

Those who have accumulated UK pensions & want to plan for their retirement to ensure an independent life without compromising the standard of living.

Benefit from our expertise

·         Exide Life Insurance is an established player serving over 1 million customers in India for 12 yrs.

·         The company has demonstrated a good track record in managing retirement and pension products.

·         Has delivered consistent returns by declaring an average bonus interest rate of 8.54 % p.a* over the last 8 yrs.

·         Benefit from our experience in managing a retirement corpus of INR 200 cr. under our erstwhile QROPS approved scheme Exide New Best Years

*Average bonus interest rate for retirement fund under Exide New Best Years Plans over last 8 years. Interest rate declaration is subject to the performance of the fund. Past performance is not an indication of future performance.

Key Features

Minimum / Maximum Age at Entry	18 years – 65 years
Minimum / Maximum Vesting Age	45 Years - 75 years
Vesting Term / Premium Paying Term
	Premium Payment Term	Vesting Term Allowed
	Single Pay	10-42 years
	Limited Pay: 5 – 9 years	10 years
	Limited Pay (10-41 Years) and Regular Pay	15 - 42 years
Minimum Premium for Limited Pay/ Regular Pay	Premium Payment Term Minimum Annual Premium Minimum Monthly Premium 5 – 9 years Rs. 48,000 Rs. 4,000 10 - 42 years Rs. 24,000 Rs. 2,000
Minimum Single Premium	Rs. 2,40,000
Premium Payment Frequency	Annual and Monthly modes available
Annuity Options	Guaranteed for Life

Who am I?

Let me introduce myself. I am Ravi kumarI have been working as a Financial Consultant for more than 5 years. I have been instrumental in transferring pension for over 60 professionals including Engineers & Doctors who have relocated from UK to India. I promise to offer quality service & my service covers existing Pensions review, Free QROPS Consultations & Guide, Transfer Recommendation Report and much more.

Please contact me for an informal chat about the transfer scheme with my following Contact details.

Mr Ravi Kumar. Financial Consultant Exide Life Insurance Co Ltd

28, 6^th Floor, Centenary Building,  Adjacent to Raheja Towers, M.G Road, Bangalore-560 001.  Cell: +91 9980927393,  +91 9844519872

         Email: ravi.sampige@gmail.com