• Entry Age: An employee within the age group of 18-69 years
• Annual Premium: Minimum contribution per scheme is Rs 1 lakh
• Rider: Group Term Insurance Rider and Group Double Accident Benefit Rider
• Top-up: Top up contribution into a separate account.

Superannuation plan is a well structured plan providing regular post retirement income to your employees through:

• Regular pension to your employees after retirement.
• Financial support in form of regular pension to the family members of your employee’s family in case of death or total disability.

Tax Benefit

• Contribution paid by employee is eligible for tax rebates u/s 80 C. The benefits paid on death are exempt from tax.

Death Benefit:

• On death of the member, the fund value as on the notification of death will be used to purchase annuity on the life of deceased member. The beneficiary also has an option to take 1/3rd of the lump-sum amount and purchase annuity with the rest of the fund value.

Retirement Benefits:

• On retirement of the member, the fund value as on notification of retirement will be used to purchase the annuity. The employee also has an option to take upto 1/3rd of the lump-sum and purchase annuity with rest of the fund.

Tax Benefits:

• The premium paid by an employer is treated as expenses for tax purpose in the year of payment.
• Fringe Benefit tax is not payable for contribution paid up to Rs 1 lakh per employee.

Tax benefits are as per the provisions of the Income Tax Act, 1961. Tax laws are subject to change.

The policy will attract charges under various heads. The details of the same are given below:

** Charges differ from fund to fund
*1.5 % for 4 th year and 1 % after that.
# varies with number of members.

For further details, please refer to the policy brochure
Rider charges to be deducted on a monthly basis and will depend on the Rider and the cover chosen