Keep abreast of your plan

Jamaica Gleaner - - INVESTMENT FEATURE -

If you are leav­ing your place of em­ploy­ment, don’t opt to re­ceive your ac­cu­mu­lated pen­sion sav­ings in a cheque; you need to main­tain this money for your fu­ture re­tire­ment in­come. You can ei­ther leave it in your work­place plan, or trans­fer it to an­other ap­proved re­tire­ment fund. Un­der­stand the op­er­a­tion

If your ini­tial cal­cu­la­tions in­di­cate that there will be an in­come short­fall from your re­tire­ment fund, you may have to con­trib­ute to your pen­sion plan for an ex­tended pe­riod. You could post­pone your dream of early re­tire­ment, or start a busi­ness that can cre­ate in­come in your se­nior years.

Newspapers in English

Newspapers from Jamaica

© PressReader. All rights reserved.