Retirement Planning

Starting a Pension Plan :

Why start a pension plan now?

When you are young, it’s all too easy to think that old age and retirement are so far away in the future that you don’t need to bother about them now. Yet, the earlier you start your pension plan, the less it will cost you to build up the pension that you will need.

That’s because the longer your money is invested, the more chance it will have to grow - so the amounts that you pay in during the early years have the potential to build up much more than the amounts that you pay in later.

And of course, if you are in your 40’s, 50’s & even 60’s, it’s never too late to start.

What level of retirement income will I need?

Everyone’s expectations and lifestyle requirements are different. However, many experts say that you should aim for a retirement income of around two-thirds of your annual earnings shortly before retirement. That is a good rule of thumb, but it’s not necessarily right for everybody.

Getting advice

Everyone’s expectations and lifestyle requirements are different. However, many experts say that you should aim for a retirement income of around two-thirds of your annual earnings shortly before retirement. That is a good rule of thumb, but it’s not necessarily right for everybody.