Have you ever wondered how you'll maintain your lifestyle after you stop working? Or if you'll have enough savings to enjoy your golden years without financial stress? You're not alone. Many Singaporeans are concerned about their retirement plans , especially with increasing life expectancy and rising living costs. That's where PRUGolden Retirement comes in - a retirement plan designed to help you make the most of your post-work life.
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PRUGolden Retirement is a retirement insurance plan offered by Prudential Singapore. It's designed to provide you with a stable monthly income during your retirement years , giving you the financial freedom to enjoy life on your own terms. This plan isn't just about money - it's about peace of mind, allowing you to focus on what truly matters in your golden years.
Choose to receive your retirement income for 10, 15, or 20 years. Supplement your retirement needs with a regular, predictable income stream.
If you become disabled due to an accident, you'll receive additional monthly payouts. Your future premiums will be waived, ensuring your retirement plan stays intact.
If something happens to you before the policy expires, you can transfer it to your spouse. Your spouse can continue receiving the remaining payouts until the policy matures.
No medical check-up required. Easy application process.
Choose a premium payment term that suits your financial situation.
| Age | What suggestion covers | Premium |
|---|---|---|
| 39, Female making $6,000 a month | Not provided |
Let's break it down with a simple example:
Meet Mr. Lim, age 40. He decides to set aside $6,894 annually for 20 years for his retirement plan.
Accumulation Period (25 years):
Monthly Income Period (20 years):
This means Mr. Lim could potentially receive more than double what he paid in premiums over his retirement years!
But what if something unexpected happens?
Let's say Mr. Lim has an accident and becomes totally and permanently disabled before he turns 70. In this case:
This additional protection ensures that even if life throws a curveball, Mr. Lim's retirement plans won't be derailed.
It's important to note that while the Guaranteed Monthly Income is fixed, the Non-guaranteed Monthly Income can vary. The example above uses an illustrated investment rate of return of 4.75% per annum. If we use a more conservative rate of 3.25%, the Non-guaranteed Monthly Income would be $62, and the Total Illustrated Payout would be $272,812.
These variations highlight the importance of understanding that bonus rates are not guaranteed and will depend on the performance of Prudential's participating fund.
One of the great things about PRUGolden Retirement is its flexibility. You can customize several aspects of the plan to suit your needs:
This flexibility allows you to align the plan with your personal retirement goals and financial situation.
Sarah, age 45, dreams of retiring at 60 to travel the world. She chooses PRUGolden Retirement with a 15-year payout period. This gives her a stable income from 60 to 75, covering her prime traveling years.
John, age 50, wants to ensure he has income well into his 80s. He opts for retirement at 65 with a 20-year payout period, providing financial security until he's 85.
Mary had a PRUGolden Retirement plan and unfortunately became disabled due to an accident at 58. Thanks to the plan's accident protection, her premiums were waived, and she received additional monthly payouts, helping her maintain financial independence despite her disability.
Stable monthly retirement income
Additional protection against accidental disability
Flexibility in retirement age and payout period
Option to transfer to spouse
No medical check-up required
Long-term commitment
Early termination may result in financial loss
Non-guaranteed portions of income depend on fund performance
It's best to check with Prudential about the flexibility for changes after purchase.
You have the option to transfer the policy to your spouse, who can continue receiving the payouts.
Yes, your premium remains the same throughout your chosen payment term.
Yes, there's no medical check-up required for this plan.
Check with a Prudential Financial Consultant for the most up-to-date information on age limits.
While PRUGolden Retirement offers many benefits, it's crucial to remember:
PRUGolden Retirement offers a path to financial security in your later years, combining stable income with protection against unexpected events. Its flexibility allows you to tailor the plan to your specific needs and retirement goals. However, like any financial decision, it's important to carefully consider your personal circumstances and long-term objectives before committing.
Remember, retirement planning is not a one-size-fits-all process . What works for one person may not be ideal for another. That's why it's crucial to get personalized advice before making a decision.
Ready to take the next step in securing your retirement? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on retirement planning. These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.
By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best retirement strategy for your golden years. Don't leave your future to chance – get the expert advice you deserve today.
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