My contract with ING Visya best years pension plan has matured and I received a letter from the company asking me to select my pension option. The amount of returns they are giving is horrible. For pension plan with corpus return after death, they are giving Rs.35 per thousand. ie 3.5% per anum with the return of capital to spouse after death.
The other one is annuty for life, ie they pay pension as long as you are alive and takeaway the corpous after your death (like vultures). You know, they pay Rs.45 per thousand, ie 4.5% per anum until you are alive and do not return the corpus after your death. 4.5% return without refunding the corpus? Even simple post office/ppf schemes give better return. What is happening to the poor insurers money? Big fat bucks to dirty managers. Why ING VISYA is not announcing the annuty values in the press or in their best years product broucher.