Thinking about your future
At some point in the future, you will retire and you will need something to live on. A pension provides an income in retirement.
Being a member of a pension plan, such as the M Plan, is like starting a long-term savings plan. The sooner you start saving and the longer you can save for, the better.
When you start an ordinary savings plan, you usually have a goal in mind – a new car, a deposit for a house or a rainy day. With this long-term savings plan, you need to set a goal beyond “I need money for my retirement”. You need to think about how much money you will need and how much you can actually save.
You also need to think about the age you are going to retire – your Target Retirement Age.
|
A pension plan is like a long-term savings plan: the sooner you start saving and the longer you can save for, the better |
Setting a target retirement age helps with your planning and it's used in the Lifestyle investment option
