Retirement Plan
A comfortable retirement requires smart planning. Start today by putting aside as little as Rs 1,000 each month in your Retirement Plan.
Our dedicated funds, designed to match your chosen retirement age, will ensure that your contributions are invested with your retirement age in mind. Enjoy the retirement that you deserve.
Maximum flexibility
Retirement planning has never been so flexible. Choose the options that match your aspirations:
- Choose your retirement age.
- Escalate your monthly contributions automatically by 5%, 10% or 15% each year to keep-up with inflation.
- Give a boost to your plan by making ad-hoc contributions anytime.
- Withdraw part or the whole of your accumulated funds at any time, without any penalty fee.
- Increase or decrease your monthly contributions and escalation, free-of-charge anytime.
Secured investments
To help you secure your accumulated funds as you near retirement, we provide you with an option to transfer part or all of your investments to a fixed deposit account with MCB - remunerated at a premium rate** - five years before your planned retirement date.
Insurance cover
Choose among three levels of insurance cover. The level term assurance will apply in case of death or total and permanent disability.
Cashing-in your Retirement Plan
When you reach your chosen retirement age, select the option that suits you best:
- Receive a “lump sum” by redeeming up to 100% of your accumulated funds.
- Receive a monthly payment through the gradual redemption of your accumulated funds until depletion.
- Receive a reduced monthly payment until depletion of your funds by opting for a partial “lump sum”.
Tax free
Any redemption from your Retirement Plan is tax-exempt*.
Disclaimers
A product brought to you by MCB Capital Markets
“The Retirement Plan (the “RP”) is not a pension plan, a Retirement Benefits Scheme or any other type of pension schemes (including products of a similar nature) and, consequently, does not fall within the purview of the Financial Services Act, the Insurance Act or the Employees Superannuation Fund Act. Subscription to a RP constitutes essentially of investment in collective investment schemes (“CIS”) duly authorised by the Financial Services Commission (the “FSC”). This product is targeted towards investors having a predefined investment horizon which matches that of the selected CIS.
It must be understood that, in authorising this product, the FSC does not vouch for its financial soundness or the correctness of any of the statements made or opinions expressed with regard to the RP. As is true of any such product, investment in the RP is not guaranteed and as such the value of the investments may go up as well as down and the investor may not get back his initial capital. In certain circumstances an investor’s right to redeem his investments may be suspended.
The RP is not regulated by the Bank of Mauritius which however retains a supervisory oversight with respect to financial products distributed by banks. MCB Fund Managers Ltd, holder of a CIS Manager licence issued by the FSC, for the management, sale and distribution of funds of the MCB Unit Trust, therefore assumes ultimate responsibility for the RP. Prior to any investment, potential investors should apply their own analysis of the product and its associated risks from a legal, accounting and fiscal standpoint and accordingly avoid relying exclusively on information submitted to them. Potential investors are encouraged to seek professional advice prior to investment.
*Tax laws and regulations governing Capital Gains may be subject to change.
**Conditions apply