Union AMC has launched Union Pension Fund. It is an open ended pension settlement based scheme with lock-in of 5 years or till retirement age (whichever is earlier).
The New Fund Offer (NFO) of Union Retirement Fund (“Scheme”) will open on September 1, 2022 and close on September 15, 2022. Minimum investment is Rs. 1,000 and thereafter can invest in multiples of Rs.1.
The union pension fund comes at a time when companies across the industry are facing challenges. Employees are looking for a change in careers. Some join temporary jobs for fulfillment, meaning and purpose. This trend can be picked up with increasing life expectancy (life expectancy has changed from ~30 years to nearly 70 years in India’s 75 years of independence) and truly utilizing the freedom of the post-retirement years requires serious planning and discipline.
The structure of the program is designed to help clients achieve the desired discipline. The scheme is mandatory for 5 years or retirement age whichever comes first. And offers only share investment plan.
G. Pradeep Kumar, Chief Executive Officer (CEO), Union AMC said, “Union Pension Fund is not just an NFO. This calls for serious introspection among all stakeholders to get aspirational planning along with financial planning. Renewable planning is how to plan for freedom in a disciplined way. It goes beyond raising money and driving towards it,” he said.
The allotment date is September 22, 2022 and the scheme will reopen for ongoing sale and repurchase on September 29, 2022. The scheme is benchmarked against the S&P BSE 500 Index (TRI) and Mr. Vinay Baharia and Mr. It will be moderated by Sanjay Pembalkar.