Tailored Financial Solutions

Long-Term Retirement Savings (NPS-Lite/ Swavalamban)

NPS-Lite locks in savings for 20 years. However, individuals who save INR1000 p.a. receive a matching federal government co-contribution of INR1000 p.a. Karnataka and Haryana Governments provide an additional co-contribution of INR1200 p.a. to their residents. In aggregate, government contributions of ~INR 2500 crore are available for NPS-Lite clients till 2017. IIMPS delivers NPS-Lite to its clients through a national-level partnership with LIC-HF.

Micro Mutual Fund (UTI RBPF)

The Retirement Benefit Pension Fund (RBPF) is a 16 year old, government notified pension scheme managed by UTI AMC. RBPF invests upto 40% of assets in listed equities and the remaining portfolio into government and corporate debt. The scheme provides IIMPS clients with a long-term, market-led savings platform and permits withdrawals. UTI-RBPF is eligible for a relaxed KYC through SEBI, India's securities market regulator. The Scheme has delivered a CAGR of roughly 11% since inception in 1994.

Micro-Insurance

IIMPS delivers the subsidised Janshree Bima Yojana of LIC to its clients. JBY provides a cover of INR30,000 for natural death, INR75,000 against accidental death and scholarship benefits to children at an annual premium of INR100. IIMPS will also deliver Jeevan Madhur, a micro-insurance scheme of LIC to its clients. Clients will save Rs.1000 p.a in Jeevan Madhur will receive capital protection over a 5-year tenure along with a modest growth.

New Financial and Risk Management Solutions

IIMPS is evaluating the demand, processes, compliance and commercial incentives for delivering new short and medium term micro-saving products for known future expenditures to its clients. Delivery of the subsidised health insurance scheme (RSBY) that offers cashless hospitalization benefits of INR30,000 to a poor family and a telephone-based health advisory service is also being evaluated.

Changing Lives
field updates

Low income individuals in remote tribal locations at Tamil Nadu are now being enrolled for "micro-pension" in partnership with Centre for Tribal Research and Development (CTRD).

IIMPS and eKutir will jointly assist low income farmers in Odisha to accumulate micro-savings through the Micro-Pension model.