RETIREMENT PLANNING : : Frequently Asked Questions
Here is a list of retirement questions and answers for your convenience.
How much should I pay in?
Choose a monthly figure you can comfortably afford and aim to increase this every 12 months. Professional advisors recommend you aim for a pension income of 60-80% of your salary.
How much will I get?
Use the calculator to get an idea of general projected returns.
Which is better - company or private pension?
If a company scheme involves an employer contribution then in theory it should provide the best returns. In an ideal world you should run a company and a private scheme concurrently.
What happens if I die while paying into a pension?
Often the fund becomes part of your estate and is paid to your beneficiaries.
How often should I review my retirement plan?
Once every 12 months is appropriate for most people. Aim to increase contributions to keep in line with inflation and any pay increases. Also check to ensure your money is working according to plan.