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Pros and Cons of CitiGold Retirement Saver (II)

Citigold Retirement Saver (II) is a retirement instrument created by AIA Singapore. It is a limited premium participating endowment which provides monthly Guaranteed Retirement Income for 15 or 20 years. At the end of the policy term, a non-guaranteed Maturity Benefit will be paid out. It does not take into the policyholder’s medical condition upon sign up, and hence it is a guaranteed issued offer plan.

Citigold Retirement Saver (II) has several options available for the Retirement Age (intended payout age). They are age 55, 60, and 65. Do note the policyholder has to decide on the planned Retirement Age and Retirement Income payout period before the commencement of this policy.

There are 4 options of payment terms:

  1. One time payment.
  2. Limited payment of 5 years.
  3. Limited payment of 10 years.
  4. Limited payment till Retirement Age.

CitiGold Retirement Saver

Pros of Citigold Retirement Saver (II)

  1. An exclusive Retirement Reward that is equal to 24 times of the Retirement Income is payable on the policy anniversary occurring on or immediately following the Insured’s Retirement Age
  2. A guaranteed monthly Retirement Income is payable upon the Retirement Age, and this ensures certainty retirement.
  3. Capital guaranteed by retirement age of 65

Cons of Citigold Retirement Saver (II)

  1. Based on the AIA’s Participating Fund Update for 2014, Citigold Retirement Saver (II) belongs to Group 6 of SGD participating fund while the Single Premium (1 time Payment) option belongs to Group 7 of SGD participating fund
  2. There is no participating performance for both group 6 and group 7 for the year 2012 in the report, and the likely reason is that these two funds started only in 2013.
  3. However, in the product summary, there is an exceptional high investment return shown for 2012. Also, the 2013 & 2014 investment performance does not tally with the Group 6 result stated in the report.
  4. As the participating fund has a short history, we recommend consumers to exercise caution when purchasing this plan. Contact us here for an evaluation.

To know if Citigold Retirement Saver (II) can honour the projected return base on historical performance

To know how Citigold Retirement Saver (II) compares with other insurers’ retirement solutions

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Beside CitiGold Retirement Saver, you may want to read up another retirement plan that provides lifetime payout here.

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