From 58 to 72 years: ICICI Pru GPP Flexi tackles retirement challenges

Good news from the UNDP’s 2025 Human Development Report: India’s average life expectancy climbed to 72 years in 2023 from 58.6 in 1990. Interestingly, government data on ‘Elderly in India’ suggests that by 2036, nearly one in seven Indians will be aged 60 years or older. While these projections are good signs of the improving healthcare in India, an individual must be cognisant about the challenges posed by the rising life expectancy as well. Understanding this challenge and to make retirement planning easy, ICICI Prudential Life has designed ICICI Pru Guaranteed Pension Plan Flexi, which enables customers to effectively plan their retirement.

According to a statement, the rate of interest at which the regular income will be paid out is fixed at the time of purchasing the product, this means the guaranteed regular income does not fluctuate with interest rate movements.

Commenting on the plan, Vikas Gupta, Chief Product Officer of ICICI Prudential Life Insurance, said, “Retirement planning is driven by one core need — certainty of income for life. ICICI Pru Guaranteed Pension Plan Flexi is designed to deliver this certainty through a simple and flexible structure. In fact, it offers 7 flexible options to customers to serve their different needs.