Today people live longer, healthier lives than ever before. Leisure and recreational opportunities are greater than ever before.
Plan Ahead. Today Banque Saudi Fransi offers you Al-Ghad, a retirement plan that ensures you will receive the retirement benefit which will meet your needs in the years to come.
Banque Saudi Fransi has developed this retirement plan in collaboration with Assurances Generales de France, (AGF), part of Allianz Group, which is one of the largest and most reputable insurance companies in the world.
What is Al-Ghad retirement plan?
Al-Ghad offers you a simple but very effective way of ensuring that your retirement is free of financial worries.
In addition, Al-Ghad carries the approval of the Saudi Arabian Monetary Agency. Rest assured that you are making a safe and secure choice for the benefit and protection of you and your family - today and for the future.
How Al-Ghad works...
Al-Ghad plan is very simple. If your age is between 18 and 60 years, and you decided to apply for Al-Ghad Plan, all you have to do with the help of our professional staff are simple steps:
- Decide how much you want to save and how long your Plan will last.
- Our professional team will tailor a retirement plan to fit your needs and budget.
- Once the plan is agreed, savings will be made automatically from your account, providing you with complete control, convenience, and above all, peace of mind.
How your savings are invested...
- The amount you save will be invested mostly in low risk investment funds which provide stable returns.
- A smaller proportion of funds will be invested in carefully selected global equities.
- You don't need to worry about exchange rate risks or the stability of offshore investments centers. Banque Saudi Fransi ensures the safety of your savings plan by predominantly investing in Saudi Riyals in the Saudi market.
We keep you informed
- Each year we will send you a statement showing the accumulated value of your savings plan and the rate of growth of the Investment fund.
We provide additional protection
We can never predict what will happen in the future. That is why Banque Saudi Fransi provides automatic protection of your retirement plan.
- In the event of the plan holder's death, God forbids, Banque Saudi Fransi will immediately pay the full amount of the sum insured to the nominated beneficiaries. With the help of our professionals, you can specify such an amount.
- If you select the total permanent disability protection (this is optional), the plan benefits will be paid to you in five equal annual payments.
Features and Benefits of Al-Ghad plan
Al-Ghad plan is flexible
As your income grows, you can choose to increase your regular savings contribution.
- You can choose to save on a monthly, quarterly, half yearly or annual basis, whatever suits your budget and your personal circumstances.
- You can decide the plan duration to suit your requirements providing that it shall be 5 years minimum.
- Forced saving concept.
- Approved by Saudi Arabian Monetary Agency.
- Flexible plan.
- You save automatically by direct debit. It is simple and convenient.
- You can start saving with as little as SR 100 per month.
- You choose the plan period that suits you, starting with a minimum of 5 years.
- In case of death, your beneficiaries will receive a lump sum payment equal to the agreed sum insured.
- You can increase your contributions each year, automatically, at a rate which suits your budget
- Choice of the frequency of payment: monthly, quarterly, half yearly or yearly.
- You can choose to take a single lump sum on retirement, an annual lump sum spread over 10 years or a combination of both. The choice is yours.
- Optional coverage is available to protect against total permanent disability, up to age 60.
- In the event of total permanent disability, the plan benefits are paid out in five equal annual installments.
- Sum insured and cash value can be protected against inflation.
- A free medical examination is provided if needed.
When your plan matures...
- Your plan will be timed to mature at your retirement date. This is the time when you will reap the benefits of the decisions you make today.
- Banque Saudi Fransi will pay you the full benefit of your Al-Ghad plan either as a lump sum or in annual installments over a period of up to 10 years.
Whatever you choose, the benefits of your Al-Ghad plan will give you greater financial freedom, independence and a richer lifestyle