ICICI Pru – Retirement Income Solution III – Is it worth ?

POSTED BY santhakr ON October 26, 2013 12:26 am ONE COMMENT

Hi,

I have been constantly contacted by one from ICICIDirect to go for RIS III scheme. I am 35 yrs old and the report he generated for me has the details as below.

What I Pay:

Rs. 1,00,000/- p.a for 10 yrs i.e. from 35 to 45 yrs

What I Get: – 3 parts to this

1. Rs. 60,895/- per year from 45 yrs to 55 yrs.

2. After 55 yrs, I will start getting Rs.1,11,496 p.a. – On my death my spouse will keep getting this amount forever

3. On death of both, the nominee [say son] will get Rs. 14, 56, 332/-

Is it any worth to consider this option or is there an alternate one? I am not looking to take too much risk by investing aggresively in equity but I can take chances with any other scheme with just 50% investment in equity.

Pls advise

One reply on this article “ICICI Pru – Retirement Income Solution III – Is it worth ?”

  1. ashalanshu says:

    Dear Santhakar, if your own retirement planning is in place, you do not need such products. If your retirement planning is not in place, even then you do not need such products. What about the tax liability on the pension? Are you going to retire by the age of 45? What ‘ll happen to your pension then and the impact of Tax on it? From where did they provided such numbers? Any guarantee of these figures?

    Thanks

    Ashal

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