Mohammed Amin’s Post

The amount of income needed for a basic retirement has increased by 60% due to the cost of living crisis we all have experienced over the last three years. It is important to review your Workplace retirement benefits annually and to increase your contributions annually as well to ensure that you take advantage of investment growth and this will help to build a good retirement fund. Pension pot amount needed for ‘basic’ retirement rises 60% in three years https://lnkd.in/eRbSrNAN

67% of Canadians aged 28 to 44 are concerned they won’t have enough saved for retirement... Employers can help by offering employees tools and resources for retirement while highlighting the lifetime security of pensions. Financially secure employees are more engaged and committed to their workforce—a true win for everyone. Read the full article here: https://lnkd.in/dGYB9xqy #EmployeeWellbeing #PensionPlans #TotalRewards

Millions of UK employees are on track for inadequate retirement incomes, according to new research from the Institute for Fiscal Studies (IFS). The study has shown that 30 per cent to 40 per cent of private sector workers saving in defined contribution pension schemes may fall short of standard income benchmarks in retirement. Don't approach retirement without a clear plan and clarity on what your lifestyle will look like. Through the use of forward looking cashflow planning we can help you to achieve this. Contact us today to discuss how you can gain the confidence that you need to look forward to a worry-free and enjoyable retirement. #financialplanning #retirementplanning

Einat Steklov, our Co-CEO and Co-Founder, was recently quoted in a Newsweek article discussing the U.S.'s ranking of 29th out of 48 countries in the Mercer CFA 2024 Global Pension Index. She noted, “The American retirement system’s C+ rating underscores the ongoing challenges we face in providing long-term financial security for retirees.” The shift from defined benefit to defined contribution plans has left many workers to navigate complex retirement decisions on their own. To secure better financial futures, the U.S. must improve retirement accessibility, adequacy, and education for all workers. Read more: https://lnkd.in/eW3T9j94 #FinancialLiteracy #RetirementPlanning #FinancialEducation #FinancialResources

As we celebrate National Social Security Month, it's crucial to understand the vital role Social Security benefits play in your retirement plan. A well-rounded plan, encompassing personal savings, pensions, and Social Security benefits, is key to achieving your retirement dreams. Social Security benefits typically cover only 40% of your income needs, so it's crucial to supplement them with other resources for a fulfilling retirement. https://bit.ly/3vteKAg

Worried about retirement income? Social Security may not be enough, and pensions are a rarity. Annuities can be a powerful tool to bridge the income gap and create a secure retirement. https://lnkd.in/evAizEPU #retirementplanning #annuity #annuities #financialsecurity

The cost of a "moderate" retirement (let alone a "comfortable" one), has soared again in the last 12 months. Interestingly, HL's methodology has taken out some of the "aspirational" elements of PLSA's approach... but it's still a figure well beyond a large swathe of the working population. How can we get more people contributing to their pension pots to avoid precarity in retirement when times are so tight for many? https://lnkd.in/eXSMnmZt

🔔 Attention all professionals planning for retirement! 🔔 Are you confident that your pension will provide enough for a comfortable future? Discover the key insights you need to know in our latest article on BusinessToday.News. 🔗 Read the full article here: [Retirement Crisis Alert: Is Your Pension Enough to Survive?](https://lnkd.in/eRHvGFwK) In this eye-opening piece, we delve into: 🔹 The growing concerns surrounding retirement savings 🔹 Strategies to assess the adequacy of your pension plan 🔹 Actionable steps to safeguard your financial future Whether you're just starting to plan for retirement or already in the midst of it, this article is a must-read to ensure you're equipped with the knowledge to thrive post-career. Don't let the retirement crisis catch you off guard. Stay informed and empowered with BusinessToday.News! #RetirementPlanning #FinancialWellness #Pension #FutureSecurity #BusinessTodayNews

The Age Pension and your retirement plans

If this post doesn't scare you, it should! We are living longer, which means we'll need even more when we retire as time passes. Sadly, if you don't have a retirement plan, you probably will run out of money in retirement. The soaring costs of long term care will make it impossible for many of us to live in a place that provides good care. At CAAT, we are providing better retirement outcomes for Canadians, one employer at a time. Through our DBplus offering, employers can provide a secure lifetime income to their employees when they retire at a fixed cost. If the employer is already offering a retirement plan, the cost is the same, and there is no cost to switch. For your employees, it doesn't matter how long they are in our plan, they will earn a lifetime benefit when they retire. I'm not sure about you, but as an employee and a member of CAAT, that helps me sleep much better at night. Contact me directly if you wish to talk about pensions, whether you are representing an employer, or yourself. It might sound boring, but it's not. And it's important.