Step-up SIP

A step-up SIP (Systematic Investment Plan) raises your instalment automatically each year by a set amount or percentage, commonly 5% or 10%. It exists because incomes usually rise while a fixed instalment stays flat and quietly shrinks in real terms. Increasing the instalment alongside income keeps the investment aligned to the goal without registering a fresh mandate every year. You choose the step-up once, at registration. Like any SIP it is subject to market risk, and it does not assure a particular outcome.