There is no escape from incurring losses from a unit linked pension product, but it is better to curb your losses now

ICICI Pru Lifestage Pension Policy is a deferred unit linked pension product. The policy claims zero premium allocation charges.

However, it has kept its policy administration charge as high as approx 13.1% p.a. Apart from this, it deducts fund management charge which in your case is 1.35% p.a.

You have already borne major expenses. However, we recommend you to surrender the policy. This is because the initial loss due to expenses will generate relatively lower returns in future. If you surrender now, you will receive fund value as surrender value which will be added to your income and taxed as per your tax slab and you will have to pay back the tax exemptions you would have availed on the premiums paid until now.

There is no escape from incurring losses now. It is better to curb your losses here itself and invest wisely in future.