Dear Sir,
I have taken the pension plan ICICI LifeTime Super Pension plan 3 years back .ie. Nov. 2007. I have select Flexi Growth Option II as the fund to allocate (100%). The premium is 1 Lakh per annum for a tenure of 17 years. During 2007 the market was performing high. The premium allocation charges (PAC) for this plan charged by ICICI are as follows,
Year 1 - 14%
Year 2 - 9%
Year 3-10 - 1%
Till now I have paid 3 lakhs in total as premium for 3 years. Now after the recent stock market crash my kitty stands at around 2.91 lakhs. I think a major portion of this loss is attributed to high Premium allocation charges of ICICI. Is it wise to continue investing in this fund over a long term or should I withdraw the funds now and allocate them in diversified mutual funds or some good ELSS scheme?
Thanks,
Siva
I have taken the pension plan ICICI LifeTime Super Pension plan 3 years back .ie. Nov. 2007. I have select Flexi Growth Option II as the fund to allocate (100%). The premium is 1 Lakh per annum for a tenure of 17 years. During 2007 the market was performing high. The premium allocation charges (PAC) for this plan charged by ICICI are as follows,
Year 1 - 14%
Year 2 - 9%
Year 3-10 - 1%
Till now I have paid 3 lakhs in total as premium for 3 years. Now after the recent stock market crash my kitty stands at around 2.91 lakhs. I think a major portion of this loss is attributed to high Premium allocation charges of ICICI. Is it wise to continue investing in this fund over a long term or should I withdraw the funds now and allocate them in diversified mutual funds or some good ELSS scheme?
Thanks,
Siva