Retirement is guaranteed
No matter how active we are today, there will come a time when we will have to retire. However, our living expenses such as food, medical care, housing and electricity do not retire. Saving in a retirement benefits scheme now helps us to save and create the income needed in retirement to cater for these expenses. The following are the benefits of having a retirement plan.
- You will enjoy Tax Benefits
Saving in a registered retirement benefits scheme is one sure way of keeping your savings safe from the tax man. Contributions to a retirement benefits scheme are tax exempt as per the set limits (Kshs. 20,000/- per month or 30% of salary, whichever is less). The return earned on the investment is also tax exempt
- The family unit is weakening
It is a reality that parents will not be able to depend on their children for their upkeep in old age due to a breakdown in the traditional systems that provided security in old age. Are you sure that your children will take care of you in your retirement?
- You can expect to live longer
People are living longer due to advances in the medical field. You will need more money in retirement to cater for the expected longer life
- It helps you to save in a disciplined way
Money put away in a retirement benefits scheme is not readily available for withdrawal unlike money in a bank account.
For Infor on how to sign up,
contact Gallin Wekesa
0712870447
gwwekesa@britam.com