ICICI Prudential Life Insurance has launched a new retirement savings product, ICICI Pru Gold Pension Savings, which offers a tax-efficient route to systematically accumulate a retirement fund. The product also provides customers with the option of tax-free lump sum withdrawal of up to 60% of the accumulated savings on maturity. It is India’s first pension product offering the safety of capital invested and partial withdrawal to meet liquidity needs.
The product also offers complimentary health check-ups and partial withdrawals. Customers can withdraw up to 25% of the contributions made after three years, enabling them to meet liquidity needs. The annual bonus can further strengthen the corpus and annuity. Upon maturity, customers can withdraw up to 60% of the accumulated savings and receive a guaranteed regular life-long pension from the balance amount, enabling financial freedom during the golden years.
Mr. AmitPalta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, “Retirement planning has assumed great importance with the rapidly changing family structures in the country. ICICI Pru Gold Pension Savings, a tax-efficient product has been designed to enable customers to make regular contributions to build the required retirement fund to be financially independent.
