Franklin Templeton MF has notified that the maximum age for investments by eligible investors under Templeton India Pension Plan has been extended upto 60 years from 58 years. The redemptions can still be made after completion of 58 years of age, provided that the minimum investment in the account has been of Rs. 10,000. Premature withdrawals will be levied applicable exit load, and will be subject to completion of applicable lock-in period of 3 years.
However, if the investment in the account till the attainment of 60 years of age has not reached Rs. 10,000, then the fund house can levy a charge of 10% on the redemption value.