Shriram Life Group Superannuation Plan

What is Shriram Life Group Superannuation Plan?

Shriram Life Group Superannuation Plan a non linked non participating variable fund based plan which can be taken by you to manage pension fund for your employees. The account can be maintained at an individual member level or at Master Policyholder level.

Who should buy this plan?

Shriram Life Group Superannuation Plan is an effective tool to manage your employee's liabilities.

Key Benefits
  • Management and administration of Superannuation liabilities in a more efficient manner
  • Assured Benefit on individual/pooled superannuation fund.
  • Minimum guaranteed interest rate of 1% p.a. for entire term of the policy
  • Additional interest credits at end of each quarter
  • Tax Benefits as per prevailing tax laws to both Employee and the Employer of the group*

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  • The initial/regular contribution shall be paid by You, the Master Policyholder.

  • The company shall maintain separate policy account which shall record all receipts and payments made in respect of this product.

  • The policy Account value shall be maintained in compliance with Reg. 13a, 13b and 13c of IRDA(Non Linked Insurance Products) Reg 2013.

  • In addition to the policy account in respect of this product, scheme-wise policy accounts will also be maintained for each scheme in respect of all the members in that scheme. In case of Defined Contribution Scheme, individual member-wise Policy Account will also be maintained.


Interest credits: In addition to the contributions received, the policy accounts will be credited with the below mentioned interest credits -

A Minimum Floor Rate: The plan offers a minimum floor rate of 1% pa, which is guaranteed to accrue at the end of each quarter. This minimum floor rate is guaranteed interest rate that Policy Account shall earn during the entire policy term accumulating on the balance of the policy account. Such accumulation shall be on quarterly basis on the balance of the policy account at the beginning of each such quarter.

An Additional non - zero positive Interest Rate: This rate shall be declared at the beginning of every financial quarter depending on the prevailing yields. This additional interest rate shall remain guaranteed for that quarter. The beginning of the financial quarter would mean the first business working day for that quarter. The non-zero positive additional interest rate shall be declared based on the formula given below. The rate for the quarter will be effective quarterly return.

Additional interest rate = 90% *(actual return earned during the previous quarter by the assets which are separately earmarked for this product less minimum floor rate).

At each interval, after the minimum floor rate is credited, the non-zero positive additional interest rate shall be credited to the balance of the policy account value.


Surrender Charge - A surrender charge of 0.05% of the policy account value as on date of surrender subject to a maximum of Rs.5, 00,000 will be levied provided the policy is surrendered within third renewal.

Fund Management Charge - A fund management charge based on the size of the policy account value of the scheme shall be charged to the policy account value at the end of each quarter/at the time of death/retirement/surrender/withdrawal. In case of death/retirement/surrender/withdrawal, the fund management charge will be charged for the period from start of current quarter to date of death/retirement/surrender/withdrawal. The charge structure is as follows:

Policy Account Value Fund Management Charge(p.a.)
1 lakh to 50 Lakhs 0.75%
Above 50 lakhs to 1 Crore 0.70%
Above 1 Crore to 10 Crores 0.65%
Above 10 Crores to 50 Crores 0.45%
Above 50 Crores to 100 Crores 0.35%
Above 100 Crores 0.30%

Your commitment

The value of this plan is realised when you remain committed to your goals.

✓ Read the policy document carefully as and when you receive the document.

✓ Always get in touch with our representative, Customer Care for any service request or query.

Disclaimer : Shriram Life Group Superannuation Plan (128N064V01)

  • For more details on the risk factors and the terms and conditions please read the sales brochure and/ or sample policy document on our website carefully, and/ or consult our advisor before concluding the sale

  • *Tax benefits are as per tax laws and are subject to change. Please consult your tax consultant on tax benefits

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