ICICI Pru Signature Pension launches to build retirement savings

ICICI Prudential Life Insurance has launched the ICICI Pru Signature Pension, a market-linked retirement savings plan aimed at empowering customers to build a tax-efficient retirement corpus. This innovative product offers an option for up to 100% equity exposure, along with tax-free withdrawals of up to 60% of the accumulated savings at maturity.

Mr. Amit Palta, Chief Distribution Officer, stated, “We are excited to provide customers with an opportunity to participate in the India growth story through effective retirement planning.” The product features two new funds: Pension India Growth and Pension Balanced Funds, allowing unlimited free switches between equity, debt, and balanced options. Additionally, the plan includes a waiver of premium benefit to ensure continuity in case of critical illness or disability, along with a feature for partial withdrawals to address unexpected financial needs.

In regional market, Agartala there is a noticeable shift towards retirement products, reflecting a growing awareness of the importance of financial security. The introduction of ICICI Pru Signature Pension is expected to cater to the evolving needs of customers in these areas, enhancing their financial preparedness for the future.