Planning for retirement

• What exactly are pension and provident plans?

  These are products designed to help you save specifically for your retirement. Both allow you to make regular contributions with tax benefits and offer various options for receiving your pension payments.

• What are they for?

  These plans allow you to build up a sum of money throughout your working life, to ensure a stable income in your golden years, in addition to the government pension. They are an effective way of securing your financial future and maintaining your standard of living when you reach retirement age.

• What are the benefits?

  They offer tax benefits, as the contributions you make are tax-deductible. Furthermore, you can change your investment options at any time without incurring any tax liability, as any capital gains you may have made would not be taxed until you withdraw those savings.
  You can also tailor your pension plan to suit your needs and financial circumstances. Furthermore, they are secure, as they are regulated and supervised by the financial authorities to protect your savings. There are several situations in which you could withdraw your money before retirement (long-term unemployment, widowhood, etc.)