Journey of regular SIP of 10,000 to regular pension income of 1.2lakh/ month!!!! Here's how

 

 

You all must have probably heard the term SIP.I believe that many of you may have done sip as well. But the question is, to what extent does your SIP guarantees you of regular pension after retirement.

Freedom SIP is a feature that allows the investor to achieve their financial goals. This is feature is wherein the investor can invest regularly in a disciplined manner through Systematic Investment Plan (SIP) and enjoy the benefits of regular cash flows via Systematic Withdrawal Plan (SWP) post completion of SIP period thereby aiming for financial freedom.

Freedom SIP comprises of three processes:

(1) SIP:- SIP will be registered into an open ended equity, hybrid or fund of funds scheme  for a pre-defined period of either 8 years, 10 years, 12 years, 15 years, 20 years, 25 years or 30 years under the monthly frequency. The minimum amount for SIP shall be the minimum Monthly SIP instalment amount for the respective schemes.

(2) Switch:- On completion of the chosen SIP period, the units accumulated through Freedom SIP shall be transferred to the selected target scheme. The Switch shall take place T+15 days or next business day where it is non-business day (T being last SIP installment date).

(3) SWP: Post the transfer, SWP is to be activated for an amount which is as per the matrix.

For Example:- If initially your SIP is registered for tenure of 30 years is Rs. 10,000 per month, then SWP will be Rs 1,20,000 (12 X Rs. 10,000). The SWP Amount must be less than or equal to the applicable slab mentioned for the respective tenures. The SWP amount is subject to the minimum SWP amount for the respective schemes.

On this nectar festival of freedom, along with "HAR GHAR TIRANGA" also adopt "HAR GHAR SIP", and take the first step towards financial freedom.

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Thanks for reading and Happy Investing...