Can Bank MF Files Offer Document

Canbank MF has filed a prospectus with Securities Exchange Board of India for offering a pension plan - CanPension Scheme, an open-ended balance scheme.
The scheme will have three separate plans - aggressive pension plan, moderate pension plan and conservative pension plan - based on the profile of the investors.

The investors would have to make an initial minimum investment of Rs 1,000. Further, the investors would also have an option to make a monthly minimum investment of Rs 500 and above in his/her corpus under the Systemic Investment Plan (SIP), which will be a part of the pension schemes.

An aggressive pension plan would be suitable for younger investors with a longer time (over 20 years) for retirement and a higher risk appetite. Under this plan, the minimum return on investment at maturity would be around 60% whereas the maximum return would be 100%. The moderate pension plan would be suitable to investors with 15 to 20 years for retirement. Under this, the maximum return on equity investment, at maturity, would be 50% and the minimum would be 30%. The conservative pension plan is meant for investors having less than 15 years of service and a lower risk profile. For their investment in equity they would get a maximum return of 25%. An investor would get retirement benefits after 55 years of age.

A provision has also been made in the scheme to exit anytime from the plan at an exit load of 3%.