UTI MF Ties Up With REPCO Bank

UTI Mutual Fund (UTI MF) has on Jan 9, entered into a customised arrangement with The Repatriates Co-op. Finance & Development Bank Ltd. (REPCO Bank) for providing the members of Self Help Groups associated with REPCO Foundation for Micro Credit, an investment opportunity through a Micro-Pension initiative under UTI-Retirement Benefit Pension Fund. The Micro-Pension initiative facilitated by UTI Mutual Fund and REPCO Bank aims to provide the much needed social security cover for the low income group during their old age. Under the initiative, members of the Self Help Groups associated with REPCO Foundation for micro credit, will contribute minimum amount of Rs.100 every month towards UTI-Retirement Benefit Pension Fund up to the age of 55 years so as to enable them to receive pension in the form of periodical income/cashflow after they reach the age of 58 years.