Exide Life Smart Pension Plan- The Best QROPS to get UK Pensions transferred.
Below are the in-depth details given by Scheme Manager about Exide Life Insurance Company Ltd & Exide Life Investment Funds & the QROPS scheme. Kindly have a look…
Exide life insurance is the only company, who is first-of-all has been doing UK Pensions transfer for more than a decade now. It is the only company for more than a decade in this sector. After that other competitors like HDFC Life actively started Pensions transfer only in the Year 2013 & later or many others begins. As a distributor I myself also doing pensions transfer since last a decade. So, I also know as a distributor since last 10 years which are the QROPS providers to be more relied upon & who is not ! Exide Life insurance is a 20 year old company & it is one of the first life insurance companies to start(Except LIC). It was earlier known as ING Life Insurance Company Ltd & they have changed the brand from ING Life to Exide Life. It is also true that Exide Life Insurance has transferred more than 80% of all the transfers that has happened into India across all the Insurance companies. Whatever pensions received till date, more than 80% of all transfers received into Exide Life QROPS.
My experience for the last 10 years, Exide Life has always put the money into Capital Guarantee Platform, wherein they have given return about more than 7%, in which capital is also protected & they have given decent returns. Now, that is the experience Exide Life has & Exide Life has facilitated this for about 5000 customers till date. And collected more than 2,600 Crores in terms of Pensions transfer. So, these are the credibility Exide Life Insurance today. We are not talking about One or two customers but 2,600 Crores for more than 5000 customers wherein the average money that we have received off-course 50 lakh per customer. And they have already demonstrated how they are managing this money in a robust manner.
Basis their experience, Exide Life has launched a new scheme. Because, they are first-of-all segregating the customers as a separately. They are not treating HNI(QROPS) customers as regular customers. Instead treating them as special customers. While a regular customers is going to invest money for few years like 5 years etc., Exide life understood that HNI(QROPS) customers are going to invest long for say 10 years, 15 years etc., So they are being treated very special. So Exide Life came with a separate Pension products only for QROPS customers, wherein they can give better capital appreciation on a longer period of time. They came with a separate investment funds which is better suited to give better returns for a longer period of time. They mitigated all the charges wherein, the difference in charges itself is almost 100% compare to any other Pension schemes. Sot that way they have completely differentiated themselves.
Also, Exide Life has proven in terms of fund performances. There are 3 funds available in this scheme. These funds are not being launched today(Pension scheme is different & Funds are different). Actually these funds are launched on 1st January of 2010. It is almost eleven years & six months they are managing these funds & they have given close to 11% returns in their equity funds which is as good as bench mark returns. Their strength is also into Government funds wherein, since inception they have given about 9% returns on a 100% debt funds. Even their new fund also has performed well, wherein which was launched along with new Pension scheme from October of 2020. This new fund since last 7 months it is grown by 30%.
Not only that, very important thing is Exide Life Insurance Company which has the Know-how of getting the overseas pensions transferred & also got in-depth knowledge about often revising HMRC Conditions to keep its QROPS customers protected from any kind of tax issues. Because as mentioned earlier, Exide Life Insurance was the only company, which has been working on overseas pensions transfer from the beginning. Now let’s come into the Exide’s Pension scheme, there is no other scheme, in which you will have opportunity to invest in either in equity fund or in Debt fund. Only Exide Life has the option wherein you can invest in both Equity fund or a debt fund as per what you want your investment requirement be. Other schemes in the market doesn’t have. They have only one fund option, which is Balanced Fund. Exide Life’s is the only scheme in which you will have options to switch between the funds with out any cost. But other Competitors only has one fund which is a Balanced Fund. So customer is stuck in only one fund, whether they like it or not. You cannot switch between the funds & that too in a balanced fund wherein the Equity portion is less than 40%, you are still charged 1.75% as Fund Management Charge(FMC).
While Exide Life gives customers options to invest in various funds, whether its Equity Fund, Index Fund Or in 100% debt fund. Customers can switch between the funds unlimited number of times without any cost. And the equity fund which is a Large Cap Fund charge you 0.85% wherein the difference in charges is 140%(for the whole policy term) between other Competitor’s & Exide Life’s fund. Now Exide life believe in mitigating charges further, so they add loyalty additions after 10 years. Another 0.25%. So that way the difference in cost comes to 155% including the Loyalty additions. Let’s say for a 20 year old customer( for example ,20 year policy term), for the whole policy term( for example ,20 year policy term) the difference in cost is close to 150%. So, if you think with many competitors the Fund Management cost is 1.75% & with Exide Life fund it is 0.85%. So the difference is 130%, then Exide also add the loyalty additions of 0.25%. The difference is 150% for the whole policy term(for example if the Policy term is 20 years, this 150% charge for the whole policy term). For Instance, If a customer invests Rs 1Crore for say 20 years with any other Competitor fund, customer will end up in paying close to Rs 60 Lakhs(FMC-1.75%), while Exide Life’s Fund ends up in charging close to Rs 20 Lakhs for the entire policy term in total(FMC-0.85%). This is the difference it makes to QROPS customers. Please note by that time your invested funds have grown many folds. Fund growth is different part to explain.
To know in detail about the benefits or amount of pensionable service, the transfer value payment of UK pension pot will buy in the receiving pension scheme in India & also to know more about the options & comparisons of different QROPS schemes of different QROPS providers available in India , we wish to schedule a free, no obligation telephone or Email consultation to discuss ways we can help yourself and any of your colleagues who has accumulated pension fund in United Kingdom. You can reach us with the following contact details.
Mr Ravi Kumar. Financial Consultant (Code: 60272381, QROPS Consultancy),
A&B Law & Financial Associates, No-2720, 12th, Main, Jayanagar 4th Block,
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