I work in the private sector, in 2010 I bought a ULIP pension plan thinking I am doing a good thing for myself, as I was 27 at that time & also help me in my tax planning.
I realised my folly soon after. I had invested in HDFC pension Super that is connected to the pension II range of funds (Getting sold on seeing returns of the Pension I returns). After all the charges (premium allocation, annual maintenance, AMC etc) I have actually grown poorer by around 15% if I factor in inflation adjustment, opportunity cost I will probably get depressed :/The policy has a surrender charge till 5 years, after which it is zero, it also has premium allocation charges that are very high in the initial 3 years later on near 1%
My Dilemma is
Should I remain invested, perhaps Pension funds take some time to start giving returns?
Should I just cut my losses and run?
or Should I wait for the surrender charge to become zero and then exit?I’m tempted to cut my losses and exit straight away; but cringe at the further loss of my money…Any advice?