Is Your State Pension Going to Provide You with a Comfortable Retirement?


New research has revealed that it doesn't matter where you live, you will find the state pensions or any benefits you receive is not enough to ensure you have a comfortable retirement, providing you with enough money moving forward.

Government pensions are not the leading choice for anyone these days, as they only provide a minimum amount which is designed to cover basic expenses, anyone can see that this is not enough to maintain your current lifestyle and live comfortably in your later years.

Private pensions are important due to the fact that they can fill the gap between your financial needs and your state pension payout. This is according to new reports which have just been released and it makes sense.

Start Saving As Early As Possible

At PWS Dubai our recommendation to all our clients is start saving for your retirement as soon as possible. Whether you are twenty and just started your first job or you are forty and haven't saved yet and are now worried about retirement, the sooner you start saving, the better. If you are used to a certain lifestyle, you will not be disappointed if you start planning for your future right now.

Doesn't matter where you live

Unfortunately it doesn't matter where you live, the pension system in your country will not give you enough income to live according to your current lifestyle when you reach retirement age. In order to ensure that there is no gap between your state pension and your living expenses, it is essential that you start saving without delay each and every month.

Factors Influencing Retirement Income

You may be wondering why there is such a gap. Maybe you remember your grandparents living comfortably on their state pensions and expected to have the same when you reach retirement, but the fact is that things are constantly changing and there are a few factors that are having a major impact on retirement income. This is true throughout the world. These factors include:
  1. We are seeing that public finances are no longer able to provide the amount of money needed for pensions.
  2. People are definitely living for longer and therefore needs to save in order to prepared for their increased lifespan.
  3. Saving growth is being restricted by the low interest rates being offered.
Give PWS Dubai a call today and see how we can assist you with your retirement planning.


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