I would like give the following statements regarding the ICICI Pru Elite Pension II
All figure in rupees
Invested amount -1461000.00
15% Premium allocation charge-219150.00
Service Tax -22499.00
Education Cess -675.00
Policy Administration Charge -5844.00 as on 31/03/2010 -policy effective on 31/03/2010
Year 2010-2011
TRANSACTION FOR INCOME FUND
Policy Administration Charge -5844.00
TRANSACTION FOR OPPURTUNITIES FUND
Policy Administration Charge -52596.00
Service Tax -1752.00
Education Cess -54.00
TRANSACTION FOR MULTI CAP GWTH FUND
Policy Administration Charge -11688.00
2011-2012 as on 29-03-2012
TRANSACTION FOR INCOME FUND
Policy Administration Charge -23376.00
Service Tax -2337.60
Education Cess -70.12
TRANSACTION FOR MULTI CAP GWTH FUND
Policy Administration Charge -46752.00
Service Tax -4090.80
Education Cess -122.71
Fund Value - Closing bal(in Rs.)1135114.96897
Current NAV 11.66080 10.54000
Closing balance(in units) 107695.91736
In a nut shell
Premium allocation charge-219150.00
Policy Administration Charge -146100.00
Service tax/Edu cess-31599.00
Total-396849.00
and I can expect another rupees 50, 000 to 70, 000 for year 2012-13 as Policy Administration Charge .
That means 30% of investment is eaten up by ICICI and taxes.
All this done in a very clever and tacitful way.