Why is retirement planning important?
Retire from work. Not from life.
A retirement plan is an assurance that you will continue to earn a satisfying income and enjoy a comfortable lifestyle, even when you are no longer working. To understand why an increasing number of individuals have already started planning for their retirement, and why you should too, read on.
Independence is the new way of life: An increasing number of young Indian professionals are moving away from the traditional joint family structure. Since support no longer comes easily, parents have realized the need to provide for themselves during their retirement years.
Costs set to soar: Skyrocketing costs throw even a well-salaried person off balance. With rates rising everyday, you can imagine how high they will be when you are ready to retire. A retirement plan provides you with a steady income every month, to arm you in the face of rising costs.
To understand how inflation can impact your monthly expenses, use our special tool, the Inflation Index calculator.
Non-earning retirement phase is now longer: Only 4% of India working population- mostly government employees – are covered by pensions. The remaining 96% comprises self-employed and salaried professionals who do not have a formal, mandated provision for pensions.
ICICI Prudential offers two key retirement plans, LifeLink Super Pension and LifeTime Super Pension - flexible income cum insurance plans that ensure you meet all your retirement requirements. So you can retire peacefully from work, but not from life.
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