Most Sri Lankans don’t know how much they will actually need at retirement, nor have they really thought about it. Often in real life, immediate needs overshadow long-term needs and most times, we realize our mistakes too late! Prioritising a portion of your savings specifically for retirement is essential, as is starting to save early and regularly.
The real question is of course, how big is your pensions funding gap?
Be it the rise in life expectancy, not contributing enough to the existing savings plans, or not having any plans at all, there is a substantial gap between the level of income people are set to receive after retirement and that which they will actually need. That is why AIA is out to make Sri Lanka retirement ready and help them close the pensions gap by educating people of the need to start planning earlier.
“We want to encourage people to start saving soon because the younger you are, the more time you have to build up a suitable fund to afford the lifestyle you desire and deserve at retirement,” said Head of Marketing Suren Perera, adding that “ideally a good pension plan will continue to build up without further contributions if you die prematurely, so your spouse (or beneficiary) can use it to maintain the lifestyle you would like them to have.”
During the ‘Pensions Month’ AIA’s nationwide team of wealth planners will put all their energy into guiding Sri Lankans to a more secure and ideal retirement. Whatever your retirement need maybe, be it a monthly income to manage your bills, protection for your beloved family in case of your death or a nest egg that allows you to live your retirement dream, you need to start planning now!
Try out AIA’s Retirement Calculator on the AIA website <www.aialife.com.lk> or watch the stirring retirement video on the AIA Facebook page <https://www.facebook.com/aiainsurancesrilankaplc/?
fref=nf>and get inspired to start now!