Pension Insurance

Presented By:
Group 12
Introduction:
Insurance contracts that specify pension plans contributions to an
insurance undertaking in exchange for which the pension plan
benefits will be paid when the members reach a specified retirement
age or on earlier exit of members from the plan
A pension plan is a retirement plan that requires an employer to
make contributions into a pool of funds set aside for a worker's future
benefit.
The pool of funds is invested on the employee's behalf, and the
earnings on the investments generate income to the worker upon
retirement.

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Types of pension Insurance plan:
Deferred annuity
Immediate annuity
Annuity Certain
With cover and without cover pension plans
Guaranteed period annuity
Life annuity
National pension scheme (NPS)
Pension funds

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Advantages of pension plan:
Regular income after retirement
Money when you need it
Tax Advantage
Insurance Cover

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