Thinking ahead realistically has always been a principal factor in helping to avoid mistakes made in retirement. Financial mistakes are, however, likely to happen when strategizing regarding your retirement. Signs that your retirement savings are off track call for you…
Women face specified sets of circumstances in retirement. The challenges faced by both sides are usually the same, but with slight differences in factors like women living longer than men. This usually results in more headwinds because of the circumstance…
During the retirement stage of your life, you need an assessment of the status of your household finances to review any debt or liabilities that threaten the integrity of the estate. Debt never has to halt the progress you have…
The closer you get to retirement, the more you need to be financially prepared. Having your savings in order, balancing your investment portfolio, finalizing your financial plan, and adjusting for what-if scenarios help bring peace of mind during the entire…
Pensions contribute to economic growth through various households, community, and national stipulations. Families can use pension funds to invest in children, tackling stunting and enabling them to attend and perform well in school, helping them become more effective and productive. …
A stakeholder pension is a money purchase pension provided by a bank, building society, or insurance company. Trade unions also offer stakeholder pensions to members who contribute to their pension fund. Pension providers invest in pension funds on your behalf…
They create a pension tax relief when you save into your pension, and the government tops it up as an incentive to continue saving for your future. The amount of tax relief you get depends on your income tax. How…
When considering choosing a pension scheme in preparation for retirement, choices that you would juggle would range from a personal pension to a stakeholder pension. Knowledge of these options is crucial to your decision-making progress. What is a personal pension?…
Kenya does not offer unemployment benefits. There are instances in which one gets their pensions when termination of employment happens. According to Section 6 (1) (f) of the Pensions Act, grants for payment of pension, gratuity, or other allowance, in…
What happens to an employee’s pension scheme when an employer becomes insolvent or ceases to exist? They protect occupational pension schemes in case of such instances. Status of Pension Scheme Security They protect pension scheme benefits from forfeiture and put…
Retirement is a time in which you would expect a decline in busy day-to-day activities and an easier daily routine funded by your hard-earned savings and retirement plan. This is a time to reap the reward for your hard work…
Crises that occur out of the blue may give you a reason to borrow from your retirement plan to provide initial relief to your predicament. However, it is wise to know the risks that come with a retirement plan loan…