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Insurance Company
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Kotak Mahindra Old Mutual Life Insurance Ltd
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Plan Name
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Kotak Group Superannuation - Benefit
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Plan Nature
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ULIP
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Plan Category
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Superannuation Plan
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UIN No.
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107L016V02
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About Plan
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The Kotak Superannuation Grouplan (KSGP) is a uniquely flexible product that addresses the needs of both the employers and the employees. Under this plan, individual employee accounts are invested in one of the many investment portfolios on a unitized basis as per each employee's choice. Parameters such as eligibility criteria for fund membership, vesting guidelines, contribution rates, transfer rules and voluntary contributions are all designed as per each employer's unique needs.
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Minimum Entry Age
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18 years
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Maximum Entry Age
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65 years
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Benefits
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| Particulars | Description |
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Maturity Benefits
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Nil
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Employees Benefit
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At the time of retirement or death, employee or employee's nominee (as the case may be) can commute part of the accumulated fund amount as a tax-free lump sum, The balance amount must be used to buy annuity from the insurer.At the time of withdrawal from service, employee has an option to either transfer his superannuation account to his/her new employer or leave his account with the trust or commute part of the accumulated fund and buy an annuity from the balance amount from the insurer.
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Organisation Benefit
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By helping to provide for retirement, you help increase employee retention and motivation.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 36 (1) (IV)
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The contributions to an approved Superannuation Fund are allowable as business deduction under section 36 (1) (iv) of the income tax Act 1961.
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SEC 10 (13)
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The benefits received by employee from a superannuation Fund is exempt from tax under section 10 (13).
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SEC 10 (25) (III)
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Employer may claim the entire initial contribution up to 8.33% of the employee's salary for each year of the past service. Income on investment is exempt from tax under section 10 (25) (iii).
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| No data for Plan Speciality |
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36M FMP (02-01-2011)
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50M FMP (27-02-2013)
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59M FMP (08-12-2013)
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60M FMP (27-11-2013)
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Group Balanced Fund
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Group Bond
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Group Floating Rate
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Group Gilt
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Group Money Market
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Particulars
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Range
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36M FMP (02-01-2011)
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Debt (including Money Market Instruments)
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0% - 100%
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50M FMP (27-02-2013)
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Debt (including Money Market Instruments)
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0% - 100%
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59M FMP (08-12-2013)
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Debt (including Money Market Instruments)
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0% - 100%
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60M FMP (27-11-2013)
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Debt (including Money Market Instruments)
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0% - 100%
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Group Balanced Fund
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Equity
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30% - 60%
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Debt
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20% - 70%
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Cash & Money market
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0% - 20%
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Group Bond
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Debt (Debt & Infrastructure Securities) 25% - 100%
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0% - 20%
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Cash & Money market
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0% - 20%
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Group Floating Rate
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Debt (Floating rate debt instruments)
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0% - 75%
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Cash & Money market
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0% - 20%
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Group Gilt
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Debt
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80% - 100%
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Cash & Money market
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0% - 20%
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Group Money Market
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Cash & Money market
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0% - 100%
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Group 59M FMP (08-12-2013) Fund
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23-May-13
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14.4597
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Group 60M FMP (27-11-2013) Fund
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23-May-13
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15.3409
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Group Balanced Fund
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23-May-13
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36.236
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Group Bond Fund
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23-May-13
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23.2166
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Group Floating Rate Fund
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23-May-13
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18.7
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Group Gilt Fund
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23-May-13
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21.2152
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Group 50M FMP (27-02-2013) Fund
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27-Feb-13
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13.9931
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Group Money Market Fund
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09-Mar-12
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24.5593
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Kotak Group Superann-Benefit - 36M FMP(02-01-2010)
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09-Nov-10
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12.6501
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36M FMP (02-01-2011)
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50M FMP (27-02-2013)
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59M FMP (08-12-2013)
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60M FMP (27-11-2013)
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Group Balanced Fund
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Group Bond
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Group Floating Rate
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Group Gilt
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Group Money Market
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21-Jan-09
11:52
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Kotak Life ties up with DHFL Vysya
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15-Jan-09
14:10
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Kotak Life registered a growth of 63%
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24-Dec-08
14:50
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Kotak Life launches interactive Web site
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22-Oct-08
12:10
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Kotak Life launches Kotak long life
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16-Oct-08
11:59
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Insurance cover for student loans
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15-Oct-08
09:35
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Allahabad Bank signs MoU with Kotak Life Insurance
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01-Sep-08
09:35
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Other Insurers to follow Kotak's strategy on cut insurance cost
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28-Aug-08
20:41
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Kotak Life insurance brings down term plan rates up to 40%
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