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RETIREMENT PLANNING SERVICES

IT’S NEVER TOO EARLY TO PLAN

Retirement may seem a far-off event, and planning for it can pose a challenge when life’s more immediate priorities demand your hard-earned cash. Add to that the impact of inflation on your accumulated savings, and what you have managed to save by the time you retire will not have the same spending power then as it does today. The reality is that most individuals are not planning adequately for their retirement, especially as people are living longer and could spend as much as half of their life in retirement.

RETIREMENT PLANNING

BASICS

Retirement planning involves looking at a number of different factors to ensure you’re able to live out your golden years exactly as you want. There are a few key questions you should be asking:

 

  • How much money do I need to save for retirement?
  • When can I retire based on my current financial situation?
  • How long does my retirement nest need to last?
  • What is the inflation rate?

When considering these questions, it’s important to factor in CPF funds, housing costs, healthcare costs, day-to-day expenses, entertainment, travel, children’s education, current debt, the current inflation outlook, and much more. It’s also important to consider the fact that life expectancy in Singapore has increased – people are living longer, which can impact how long your retirement nest needs to last.

The reality is CPF funds and corporate pensions are often insufficient to provide the retirement income needed for you to maintain your present lifestyle indefinitely when you stop working. The earlier you start planning for your retirement – ideally as soon as you start working – the more wealth you will be able to accumulate to live out your golden years in comfort.

From budgeting and setting goals to finding the best retirement plans, our advisers will help you every step of the way.

HOW IPPFA APPROACHES

RETIREMENT PLANNING

Your IPPFA Adviser will sit down with you and assess your current financial status, taking into account the passive income generated from your other investments and the kind of lifestyle that you want to lead in your golden years, and will recommend a plan to ensure that you stay on track to meeting retirement goals. We’ll focus on a few key areas:

FINANCIAL PLANNING

Financial planning is a vital part of retirement planning. Your personal financial adviser representative will assess your needs based on your current situation, your dependents, your assets and your existing coverage to make sure that – in the event of premature death, total and permanent disability, long-term medical illness, loss or theft – your retirement goals are not compromised.
We’ll also work with you to ensure you’re maximising your current income and explore potential passive income options available to you to help you save as much as possible for retirement.

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CPF CONTRIBUTIONS AND RETIREMENT SCHEMES

 

For some Singaporeans, it is possible that various Central Provident Fund (CPF) schemes can provide enough money to cover retirement expenses. But for many, there’s a good chance they can’t fully provide you the retirement you want. Aside from the inflation rate affecting your ultimate pay out, the funds may fall short of supporting your ideal retirement lifestyle.

Your Adviser will work with you to optimise your CPF contributions for retirement and tax savings, as well as help you maximise the use of the Supplementary Retirement Scheme (SRS) and Retirement Sum (Cash) Top-up Scheme.

RETIREMENT INVESTMENT PLANNING

 

Inflation is a fact of life, and can play a big role in retirement planning and savings. A failure to invest properly can severely limit the wealth you have available at retirement.

At IPPFA, you have access to a qualified adviser backed by a team of Investment Specialists, who are dedicated to giving you expert advice and support to help you grow your money and meet your investment and retirement objectives. By investing with set objectives in mind, you can ensure your retirement goals are met.

Your IPP Financial Adviser representative will first assess your investment objectives and risk profile before coming up with a plan designed to suit your risk appetite and meet your financial goals with long term objectives in mind. Your personal financial adviser representative will help you determine the investible proportion of your current savings and monthly income and calculate the return needed to help you have what you need at retirement.

We have been advising clients in the areas of investment planning and asset allocation for more than forty years. Our comprehensive range of Investment Management services include:

  • Strategic and Tactical Asset Allocation
  • Investment Selection
  • Risk Exposure and Risk Mitigation Techniques
  • Portfolio Optimisation
  • Portfolio Monitoring and Portfolio Rebalancing
  • Regular Savings Plan

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INSURANCE ADVICE

One of the biggest threats to your retirement plans are setbacks uncovered by insurance. While life offers no guarantees, it is good to know that you can protect yourself and your loved ones with a comprehensive range of insurance solutions available at IPPFA.

We assist retirement planning clients with life insurance, health insurance, travel insurance, and more to ensure you’re covered well into your retirement.

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LEGACY PLANNING

As you near retirement, legacy planning will become very important considerations. Legacy planning ensure that your wealth is seamlessly passed onto future generations according to your wishes. Your IPP Financial Adviser Representative will work with you and your lawyer to keep your plan up to date through changing economic and family circumstances, protecting the assets you wish to leave to your beneficiaries.

Supported by IPPFA’s comprehensive range of strategies and solutions, we will advise you on optimising your assets to ensure that you leave behind a lasting financial legacy for those who come after you.

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FINANCIAL PLANNNG PROCESS

 

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