ICICI Prudential Life Insurance has unveiled a groundbreaking retirement savings product, ICICI Pru Gold Pension Savings, designed to revolutionize retirement planning in India. This innovative offering provides a tax-efficient avenue for systematically accumulating a retirement fund while ensuring the safety of the invested capital.
ICICI Pru Gold Pension Savings stands out as India’s first pension product offering both the safety of invested capital and the flexibility of partial withdrawals to meet liquidity needs. Customers can withdraw up to 25% of their contributions after three years, empowering them to manage unforeseen expenses without jeopardizing their retirement savings plan. Moreover, the product includes the unique feature of complimentary health check-ups, further enhancing its value proposition for customers. Mr. Amit Palta, Chief Distribution Officer at ICICI Prudential Life Insurance, emphasized the product’s significance in addressing the evolving needs of retirees in India’s changing demographic landscape. He highlighted how ICICI Pru Gold Pension Savings empowers customers to build a robust retirement corpus while providing the flexibility to adapt to changing financial circumstances.
Upon maturity, customers can withdraw up to 60% of their accumulated savings tax-free and receive guaranteed regular life-long pension payments from the remaining balance. This dual benefit of liquidity and long-term income security distinguishes ICICI Pru Gold Pension Savings as a game-changer in the retirement planning space.
