pension planning

Pension planning involves setting aside funds during your working years to ensure a steady income after retirement. It typically includes contributing to pension schemes or private retirement accounts, which grow over time through investments. The goal is to accumulate enough savings to maintain your lifestyle once you stop working. Good pension planning considers factors like your expected retirement age, future expenses, inflation, and investment options. Starting early and contributing regularly helps build a sizable fund, providing financial security and peace of mind during retirement years.