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Our life expectancy is increasing, and most of us can look forward to a longer and more active life in retirement. As you near your retirement age, there are a few things to consider, such as the lifestyle you would like to have in retirement and the financial support you will need to enjoy that life. Deciding what’s best can be difficult.

 

We work with you to help you reach your financial goals by providing a tailored Lifetime Financial Plan to create, grow and preserve your wealth. Our team takes the time to make your portfolio personal to deliver the lifestyle you want at retirement.

 


Pre-retirement

 

By setting up a pension, you are building a platform for your future and ensuring that you have sufficient income to maintain a certain standard of living when you decide to retire in a tax-efficient manner. There are a number of pension products available, ranging from personal pension plans and PRSAs to corporate pension schemes and self-administered pensions. Each of these are designed to meet certain needs and expectations.

 

A pension is a long-term commitment, and one of the most important things to take into consideration before starting a pension is what benefits it will provide at retirement.

 


Post-retirement

 

When choosing your retirement options, having all the information is key. As you near retirement, you start thinking about what you’ll do when you stop working and whether you have enough income to sustain a certain standard of living that you have grown accustomed to. What a lot of people don’t realise is that their pension plans offer a number of options at retirement. These options need to be considered carefully, as they can have an impact on your income expectations after retirement.

 

In general, a person is faced with taking a tax-free lump sum from the pension plan, and the balance must then be used to purchase an annuity or be invested in an Approved (Minimum) Retirement Fund. In some cases, you can opt to take the balance as a taxable lump sum.

 


Talk to us today

 

We’re here to help you understand your options and guide you as you take the next steps in planning for your financial future.

 


Footnotes

 

Please see important notices for regulatory information.

We’re here to help

We’d be happy to set up a free consultation or send you more information to get you started. Simply fill out the form below and we will be in touch. If you are an existing Mercer plan member and have a question about your pension or shares, please contact the JustAsk team via this link.

 

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