Easy E-Retire 90/5 Pension Insurance

Retirement insurance plan is a great option for anyone who plans to save for your retirement. You can start retirement planning in your 30s. Because by age 30s, you have stable job with steady income so you can continue paying your premium until the premium payment term ends. A reasonable amount for life insurance is 15%-20% of your annual salary. And importantly, you should consider how much you can afford to pay in premiums before buying an insurance plan.

Pension life insurance premiums are tax-deductible of up to 15% of total taxable income and up to THB 200,000 per taxable year, or up to THB 300,000 (if not including life insurance premiums from other plans).

Depending on the terms and conditions of each policy, i.e., Easy E-Retire 90/5 requires premium to be paid only for 5 years. With Easy E-Retire 90-5, your annuity begins when you reach age 60 and provides guaranteed income until age 90. And when you’re older, you will get a higher annuity income up to 28% of sum assured.

If you’re planning for retirement, both are retirement options you can choose. And you can buy both at the same time. Both options are tax-deductible. Pension insurance premiums are tax-deductible of up to 15% of total taxable income and up to THB 200,000 per taxable year, or up to THB 300,000 (if not including life insurance premiums from other plans).

RMF are tax-deductible of up to 30% of total taxable income and up to THB 500,000 per taxable year when combined with other savings for retirement plans).

The difference between pension insurance and RMF is:

RMF invests in mutual funds which involves investment risks. Returns from mutual funds depend on funds’ performances and economic conditions. But pension insurance provides you with steady income annuity as specified in the policy. You will receive a stream of guaranteed income every year during your retirement years.