AIA Smart Pensions makes retirement planning smarter
View(s):AIA Insurance recently launched AIA Smart Pensions, a comprehensive pensions solution packed with features that helps you plan for retirement in a smart manner.
In retirement planning, it is always smarter to start saving early. The earlier you start saving, the more time you give yourself to build a healthy retirement fund. AIA Smart Pensions recognises this and rewards timely planning with the unique feature of Loyalty Additions, which can be as much as 1,750 per cent of your annual basic premium. If you start early and save longer you will get higher benefits- for example, if you start early and save for 20 years, the Loyalty Addition is 1,225 per cent whereas it is 825 per cent for the savings period of 15 years (for annual mode premiums), according to an AIA media release.
“The other important aspect of retirement planning is how you receive your monthly income after retirement. With AIA Smart Pensions, you can decide on the period for which you’d like to receive a monthly income after retirement and this can be up until you’re 100 years old! So you know you’ll have an income to depend on as you get older,” it said.
Another smart and unique feature of AIA Smart Pensions is that it helps clients manage inflationary effects during the pension payout phase. “It allows for this by ensuring a growing monthly pension for you in retirement so you can combat the inevitable inflation that takes place. This happens with the ‘Pension Booster’ feature, which pays out an additional 30 per cent on top of the declared dividend on your pension fund, during your chosen monthly pension payout period”.