What is Pension Planning?
Frequently asked question
Why is Pension Planning important?
Pension planning is important because it helps you secure your financial future, ensuring that you have a steady stream of income during your retirement years.
How does Pension Planning work?
Pension planning works by allowing you to save and invest in a retirement account. Your contributions are invested over time, and when you retire, you receive a steady stream of income from the funds in your account.
How much should I contribute to my Pension Plan?
The amount that you should contribute to your pension plan depends on your financial goals, risk tolerance, and other factors. A financial advisor can help you determine the best contribution amount for your individual needs.
Who can purchase Pension Insurance?
Individuals or employers can purchase Pension Insurance for their employees as a part of a retirement plan.
When can I start receiving payments from my Pension Plan?
The age at which you can start receiving payments from your pension plan depends on the specific plan you have. Most plans allow you to start receiving payments between the ages of 55 and 70.