Good financial planning toward retirement starts with insight. By thinking now about later, you can avoid surprises and hopefully continue to live the life you want. Below are practical tips and tools to help you do just that.
Pension Planner
In the Pension Planner on MySPIN, you can see how much pension you can expect later and whether that is enough to live on. You can find out how to check this in the Planner here. The Pension Planner also shows you an estimate of the purchasing power development during your retirement. It is important to look not only at the amount you will receive in your account later, but also at what you can buy with that money. After all, prices continue to rise.
By default, the Planner calculates with the AOW and pension from SPIN. In addition, it is very easy to add your pension from any other employers. To do this, click on the ‘add pension from other employers’ button in the planner.
Are you expecting a shortfall? It is possible to make extra deposits into your DC capital with SPIN. In the planner you can see the maximum amount you can deposit extra each month and what this can bring you in terms of pension.
Keep an eye on your retirement!
Check the state of your pension regularly and whether it is enough in the Planner. Do you have a DC capital? If so, you can track its status online via the ‘Data / Balance DC capital’ page. Do you have a DB pension? Here you can see what you have accrued so far.
Help with financial planning
Are you currently employed by IBM? IBM is preparing this additional support. You’ll hear more from them about this later this year. It’s expected to become available in September.
Have you accrued pension benefits with SPIN in the past and are you not yet retired? If so, you can take advantage of “financial planning assistance” at an attractive rate. SPIN is partnering with independent financial advisors from Montae & Partners for this service. Click here for more information and to sign up.
Financial products and advice
Would you like personal advice on financial products or are you thinking about taking out an annuity with an insurer for extra retirement? Then take a look here.
Colleagues Who Tell
Finally, some financial planning tips from two colleagues.