Retirement Pension Calculator Do You Have Enough Money to Retire?

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Retirement Pension Calculator Do You Have Enough
Money to Retire?
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• A pension plan is basically an arrangement that
  provides you regular income when you are no
  longer generating fixed income from employment.
  It is a saving vehicle that allows you to
  accumulate tax-free funds that can be used later
  as retirement income. Also called superannuation
  plan, a pension plan is a kind of guaranteed
  annuity. It is usually set up by the government,
  employer, trade union, insurance company or
  employer association.
• When you retire, you stop earning money and
  become dependent upon your guaranteed sources of
  money such as pension, returns on investment and
  rental income. Of these pension it is the most
  reliable resource of money. It is an efficient
  way to save tax all through your employment
  period, amass money on which the tax is never
  applied, and get regular income throughout your
  life.

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• The big question that comes to the fore at this
  point of time is how much pension would be needed
  to ensure an unproblematic and uncomplicated
  retired life. This is where a good retirement
  pension calculator becomes indispensable. On the
  one hand, it helps you to calculate the total
  amount of pension you would need to meet all your
  expenses and liabilities after you stop working,
  and on the other hand, it helps you to select the
  best superannuation plan. Furthermore, it also
  helps you to ascertain the various benefits that
  you would obtain from the pension plan in
  different retirement age scenarios.
• The amount of pension you get depends upon two
  factors, firstly, the amount of money you put in
  the plan, and secondly, the age at which you wish
  to retire. A good retirement pension calculator
  will help you to determine when your
  superannuation plan will start generating good
  results, how much money you will get in hand per
  month, and what all you can do to increase the
  yield. Furthermore, you will also be able to
  calculate the right age to retire.

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• Yet another benefit of a proficient retirement
  pension calculator is that it helps you to select
  the best pension plan. There are different kinds
  superannuation plans are available, and all of
  them produce different results in different
  periods of time. It is simply impossible to
  examine and evaluate each one of them to track
  down the best plan.
• With the help of the pension calculator you can
  easily decide whether to choose a define benefit
  plan, where you get a fixed amount depending upon
  you salary and the number of years you
  contribute, or defined contribution plan, where
  the monthly income depends upon the amount of
  money contributed and the type of investment
  vehicle used. Besides these there are hybrid
  plans that combine the features of both the above
  plans.

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• Thus, by using a Retirement Pension Plan ,you can
  select the best superannuation plan and ensure a
  good regular income on retirement.
• Article Source http//EzineArticles.com/3095902

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