Step 1:

Try to have your home paid off before you finish working, so that you won’t have that financial burden when you are on pension. Paying off debt is a huge priority at this stage. 

Click here for contact details of financial advisors who can help you with advice to pay off debt before you retire.

Step 2: 

Visit the BENEFITS menu item above.

Step 3:

Talk to your financial planner and if you do not have enough retirement savings, now is the time to contribute more to your nest egg. As much as you can to meet your retirement objectives.  Hopefully, you’re in a more secure financial position now that some of the kids are maturing out of the house, and so making additional contributions is a real possibility. 

Don’t let anything get in the way of a comfortable retirement. 

Read about your contributions and speak to a financial advisor to find out whether you are still on your way to a comfortable retirement (see the details below)

Click here to read about your contributions.

Step 4:

It’s likely that your kids have now left the house. By updating your Family Register form, you can ensure that your loved ones that are still financially dependent on you will be cared for in the event of your death. This may not be a pleasant topic to think about, but it is a very important one. Don’t let them down – they will need your support.

Update your Family Register Form whenever you get married, divorced or get a child  (very important)

Step 5: 

Click here to read more about the Fund Investments.

Login to the Member Web to see your own values and how your Fund Balance has grown over the years and match that with the objectives set by your financial advisor.

Step 7: 

Start discussing your pension options with your financial advisor, who will help you choose the best annuity for your needs one day and ensure that your financial plan is in line with your choice of annuity.  Get help and advice to help you in this last stretch on your journey to retirement and understand your benefits.

Please note: If you are considering early retirement, discuss that with your financial advisor and make sure you are aware of all the pitfalls of retiring early. There are some very important risks to consider first, to ensure that you live comfortably through your golden years.

Click here for contact details of financial advisors and benefits counsellors

The risks of early retirement

Step 8:

 Stay on top of what is happening in the Fund

And just for fun!

Become financially savvy and grow your wealth by playing our fun simulation

Click here to read short, interesting articles on how to become financially savvy

Click here to play our LivFin$mart Simulation