Transfer Your UK Pension to SBI Life - Annuity Plus
Here is an opportunity for you to transfer your UK Pension to SBI Life - Annuity Plus plan.
As per HMRC list of QROPS, SBI Life has registered SBI Life - Annuity Plus plan in October 2013. It is an immediate annuity plan which gives you guaranteed pensions.
Please find below an example of how this plan works.
Mr. Kumar, is 57 years old, worked in the UK for 8 years, accumulated a pension pot of £100,000. He wants to retire in India, hence he transferred his pension to SBI Life - Annuity Plus. The amount got converted to Indian Rupees. Considering an exchange rate of £1= ₹100. This amount became ₹1 crore.
One time govt. service tax of only 3% deducted and rest ₹97 lacs got invested in the plan. Mr. Kumar started getting pension of ₹7,80,000 p.a. This amount is fixed and guaranteed for lifetime, there after Mrs. Kumar will receive the same amount of pension, throughout her life. The capital of ₹97 lacs with we refunded back to their nominee.
There are 14 different options available in this plan to take your pensions. You can choose the one which suits you best as per your retirement needs. The annuity rate will vary from 7.5% to 8.23% depending upon your age and the option you choose. Also, there are no charges involved in this plan.
Note: For complete details, please refer to the product brochure.
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Contact Us : contact@qrops-adviser.in
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