ICICI Prudential Pension Funds Management Company has launched India’s first Swasthya Pension Scheme, which is being tested in the regulatory sandbox of the Pension Fund Regulatory and Development Authority. This is a new type of pension scheme, which gives flexibility for medical expenses along with retirement savings. In this scheme, subscribers can withdraw up to 25% of their contribution multiple times for medical needs. There is also a facility for premature closure for more than 70% of the corpus in serious emergency, and payment can be made directly to the hospital. Apollo Hospitals is associated as a healthcare partner, which makes digital payments and services easier. This scheme is not a replacement for health insurance but a supplement. Can this become a new model for future retirement planning? Complete information in this video.
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