Financial Literacy

Have you ever wondered what life would be like when you retire?
More importantly, have you wondered if you would have enough funds to support you during retirement?

FNPF would like to encourage our members to start thinking about your retirement. Specifically, we hope that you can start envisaging the kind of life you want to live and build your FNPF balances to ensure you live it.

This is so important because we feel that members continue to ignore that one day work will stop while life continues.

Current statistics reveal that 50% of FNPF members that will turn 55 years in the next five years have balances of $10,000 or less.  And that 85% of these members have balances of $50,000 or less.

With a balance of $50,000 at retirement, a member would receive $362 sole pension per month. That’s about $90 a week for the rest of his/her life. Even the base poverty line is $184 per week.

It is never too early to start planning for your golden years.  Financial security during your retirement is something you should start planning for now.

Yes, retirement planning is something that we really need to seriously consider, because retirement is a surety in life as we get older by the day, month and year, as each day, month, year goes by.

Whether you will need to save more by withdrawing less from your FNPF account, or by opting for Additional contributions or otherwise, the choice is yours, depending on your situation.

It won’t hurt you to take this time, to re-look at your finances, and re-think the way you want to retire. Ultimately, the decision is yours.

Call us today on 3307 811 to speak to one of our Pension Counsellors or email for more information.