In Bangladesh around 20% people fall into the middle class category who has an annual income of at least $5000 according to Bangladesh Institute of Development Studies (BIDS). This is a huge market as these people tend to be ambitious and they don’t have any viable choice to get advice on their retirement plans. We’ll have 3 types of products for these people. We will assume different scenarios and explain the compatibility below:Pension Saving for the people who’ll only need time to time advising and planning. This will be offered to the people who have short term desires. Someone who wants to buy a luxurious car, or want to give a world tour will fall in this criterion. Customers will seek for our advice on his particular desire. We’ll calculate their current wealth and propose an amount to save for the package. Every month when he/she receives his salary a specific amount will be deducted and deposited in the retirement account. Customer will pay us only for the advice and nothing more. We’ll help them choose the best option according to their preferences. Fees will be variable depending on individual’s wealth and the amount of effort our advisor will need to give to prepare full plan.Guaranteed Annuity for the people who need time to time advice and planning.This will be more suitable for the people, who want a regular monitoring and advising on their running wealth. Fess will be collected half-yearly and a regular monitoring will be established for the retirement fund. If the fund is not accumulating as per plan, then the plan will be revisited and adjusted like in a case of inflation. Customer will be notified regarding their account’s status every month. At the point when people resign, they have to ensure that they have enough cash to last whatever remains of their lives. Along these lines, as an end-result of a few or their whole benefits subsidize, a Guaranteed Annuity can pay them a safe, general pay forever, regardless of to what extent they live. A Guaranteed Annuity might be a sensible method for covering their settled everyday costs in retirement, close by their benefits (if appropriate) and some other wellsprings of salary. The drawback is that, in the event that they put all their cash into a Guaranteed Annuity, they won’t have saves for unanticipated costs (like paying for another TV or separated auto) or for treats (like occasions). Once a Guaranteed Annuity has begun, they won’t have the capacity to roll out any improvements to their installment recurrence or advantages. Also, expansion may diminish how much their salary is worth throughout the years.Pension Drawdown for those who have idle money lying around and want someone reliable to maintain their wealth. Fee will be on the profit only.This will be a benefit based model. This will be relevant for the general population with sit out of gear cash like the best level corporate administrators and who needs a decent return at the time or after their retirement. Consistently a specific sum will be deducted from the client’s record and put into a portfolio or a venture. A yearly membership expense will be deducted from the record as a charge. Additionally a commission will be charged subsequent to accomplishing specific level of benefit on the contributed sum. On the off chance that any misfortune is happened we’ll additionally bear a segment of the misfortune and repay the customer. This gives clients more control over their reserve funds. They can take a normal pay and have unlimited access to their cash. They can designate their cash, with the guide of their monetary consultant who may be us, to stores that are put resources into shares, bonds, property and other budgetary ventures. This will give them an opportunity to develop and counter the impact of expansion. Notwithstanding, there is the potential hazard that the ventures are not executing and in addition trusted. In the event that somebody put the greater part of his/her cash into this, s/he may chance coming up short on cash if her/his pay or withdrawals are in abundance of store development. So before considering to put all the cash into this plan it is smarter to reexamine the reality and we will dependably be there to give an elaborative view on speculation opportunity and the dangers related with continuous venture. Adjustment and re-investment: Customers will have the capacity to profit any or the majority of the 3 models. Rather than choosing between any of the item, The Retirement Account enables them to consolidate one, two or even each of the three in a similar place. They can have the security of a Guaranteed Annuity to cover their ordinary living basics, for example, sustenance and service bills. It additionally furnishes them with the alternative of simple access and open door for development of their Pension Drawdown stores – meaning they would be prepared forever’s sudden costs and intermittent treats. Another choice is that, they can just set their cash aside as Pension Savings until the point that such time as they need to begin taking advantages. However the estimation of speculations can go down and also up. All parts of the record can give the capacity to leave cash to friends and family.A snapshot of the offeringsThe capacity to take up to 20% of client’s benefits subsidize as a tax-exempt singular amount, with finish opportunity what s/he jumps at the chance to do with the rest. The decision of the amount of client’s cash will be put resources into Pension Savings, Pension Drawdown and how much will be utilized to buy a Guaranteed Annuity. The clients have the adaptability to adjust their record as time passes by. For instance, they may put the majority of their cash in Pension Drawdown at first, yet then step by step move assets to the Guaranteed Annuity as they get more seasoned. The adaptability to change Pension Drawdown and Guaranteed Annuity salary levels as indicated by the way of life and budgetary arranging needs of the clients. The capacity to take out single amounts from Pension Drawdown at whatever point the clients need, to top up their pay, or for those sudden circumstances when some additional cash is required. A scope of completely examined stores which can be utilized for speculation as per client’s inclination whenever. The capacity to pass on cash to clients’ friends and family. What’s left in their Pension Drawdown or Pension Savings can be passed on to whoever they longed for. On the off chance that they pick the alternative to ensure a few or the majority of the salary in their Guaranteed Annuity, that can be passed on as well.The Retirement AccountPension Savings: How it worksPension Savings enable clients to reach in the position from where they can accomplish retirement benefits. They can pick whenever to move some of these assets into Pension Drawdown or Guaranteed Annuity to give retirement benefits (counting up to 20% tax-exempt single amount). They can contribute their cash which furnishes them with the open door for development. However, there is a worry that they would not have the capacity to take standard salary or pull back cash specifically from Pension Savings.Pension Drawdown: How it worksWith Pension Drawdown the customers can take as much or as little of their money as they want while it remains invested. So they can take no money out and leave their funds invested, or they can take a regular income and/or withdraw money from their fund when they want.Guaranteed Annuity: How it works If Customers choose to purchase a Guaranteed Annuity within their Retirement Account, the income they would receive will depend on a number of things including: The size of their pension fund used to buy the Guaranteed Annuity Their age and personal circumstances (for example where they live, their lifestyle or medical history) They will need to choose how they would like to receive their income, for example whether they want it to stay the same or rise in accordance with inflation. They will also need to decide if they wish to make provision for loved ones in the event of their death. This provision could be in the form of an ongoing income for the rest of their life or a lump sum or both. They can also select how often income is paid – monthly, quarterly or yearly. Income will be paid in arrears – which mean we will pay them at the end of their chosen period. Once a Guaranteed Annuity has started, they won’t be able to change the amount of income, payment frequency or benefits. The Retirement Account allows them to buy more Guaranteed Annuity whenever they want using any Pension Drawdown funds. They can also reinvest their Guaranteed Annuity payments into their Pension Drawdown fund. They may do this for tax planning purposes.Choosing investment fundsWhat we offer: The Retirement Account offers a range of investment choices, including an option of both passive and actively managed funds. These funds may invest customers money in shares, bonds, property and other financial investments. The mix of assets in the fund will determine the balance between the potential risk and reward. The same range of funds is available to both Pension Drawdown and Pension Savings options but they can choose to invest in different funds for each part if they wish. If at a later stage they decide to move some of their money from Pension Savings to Pension Drawdown then the funds they selected for Pension Savings will continue to be used unless they instruct us otherwise. Their financial adviser (dedicated to a customer by us) will discuss their investment preferences with them and select funds that match the type of investor they are.Passive funds: Passive funds aim to follow the value of a stock market index or group of indexes. This tracking is largely automated, so it’s less expensive and passive funds tend to charge less than actively managed funds.Active funds:Active funds are managed by a specialist investment manager, or team of specialists who have a certain amount of freedom over the specific investments they make. They use their knowledge and experience to try and beat the returns an individual could get by investing in passive funds.Protected funds:Protected funds invest in assets that have the potential to grow customers’ money over the long term. But they also come with another valuable feature, a degree of protection from the ups and downs of the stock market.Monitoring Performance:The customers can check how their chosen funds are performing on our website. Also, each year, we will send them a statement showing the value of their funds. All of The Retirement Account funds have been thoroughly researched and have been carefully selected by Retirement Advantage, and an independent investment research business. Our investment specialists monitor the funds on a monthly basis so they can relax, knowing that their investments have the best opportunity to grow.