Pension:
A pension plan is a long-term investment that helps you grow your money for use in your golden years. After retirement, the reality of a severed cashflow can derail your projects and decimate your life. A pension plan cushions you from such economic shocks.
Your road to financial freedom begins with our retirement savings plan. If you’re thinking, “But the State Pension will be enough” or “But retirement is miles away”, it’s time to rethink. You can have an adventurous retirement only if you begin planning & saving towards your retirement today. For an offer we need the age of the person.
ANNUITY
An annuity is an insurance policy that gives you a guaranteed income for the rest of your life or for a fixed amount of time. You can use your pension fund to buy an annuity that will provide you with a regular income after retirement.
The annuity can be taken individually or jointly with a spouse. If the annuity is shared with a spouse, it reverts to the surviving spouse in case one dies before retirement age. It is paid on a regular basis according to your preference whether monthly, quarterly, semi-annually or annually for life. Information required for the annuity quote is the Pension Value and the age of the person.
Why You Need a Pension Plan?
You spend the better part of your life working, but for most people, retirement doesn’t mean anything because they continue working to get by. The best way to make your golden years worthwhile is to make sound financial decisions today.
With a personal pension plan, you can begin contributing to your retirement kitty. The small monies that float out of your hands have a chance of serving you better in retirement when you invest in a good pension plan.
Even if you’ll receive state pensions, you should have an additional cover. Your financial needs don’t reduce with age. For some people, that’ll be the time to pursue other interests because they now have all the time for themselves. A pension plan gives you the seed money you need to pursue these interests.