Retirement planning
This three (3) letter word is the best time to start saving for retirement
What is now?
This fund’s Net Asset Value (NAV) only has one (1) price
What is the Universal Retirement Fund (URF)?
This is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees
What is an Annuity?
The no.1 reason retirees are returning to the workforce
A. They miss working
B. Their retirement savings aren’t sufficient
C. Retirement isn’t fun
What is B. Their retirement savings aren’t sufficient
This is the age you are eligible for a retirement pension from the National Insurance Board of Trinidad & Tobago
What is 60 years?
UTC offers a matching contribution pension plan for employees. This is the minimum percentage % both employee & employer can invest
What is 5%?
All permanent UTC employees make at least 100 % return in this fund
What is the Universal Retirement Fund (URF)?
This is the biggest factor for retirement investments falling short of adequately funding person’s retirement
A. High fees
B. Tapping into fund before appointed time
C. Starting investment too late
What is C. Starting investment too late?
On average this gender lives longer and such they must provide for more years in retirement than their counterpart
What is female
This is a non-profit organization aimed towards providing a service for persons 50 years and older to access benefits in Trinidad And Tobago.
What is TTARP?
This is the most underestimated retirement expense
What is healthcare?
You can access your retirement funds at age forty-five (45) with this fund
What is the Individual Retirement Unit Account (IRUA)?
If this is too conservative, you may not meet your financial retirement goal
What is portfolio?
This is the no. 1 regret of retirees
What is not saving enough/not starting earlier?
This is a steady rise in the general level of prices
What is inflation?
This is the no. 1 reason millennials are struggling to save for retirement
What is high housing cost?
You can get two (2) separate benefits totaling $100,000 TT with this product
What is Pension Plus?
This will make a sum invested grow at a faster rate than simple interest
What is Compound Interest?
This is what most retirees wish they had more money for
What is travel
This is the minimum number of contributions you must make to qualify for a Retirement Pension from the National Insurance Board of Trinidad and Tobago
What is 750?
This is the difference between your retirement income and actual expenses
What is a retirement income gap?
This fund is registered with a government agency
What is Pension Plus?
This is the maximum amount a person can contribute to a retirement fund for a tax benefit
What is $60,000 TT?
This percentage of retirees don’t relook retirement savings after initially setting it up
A. 70%
B. 50%
C. 90%
What is C. 90%
A two (2) word term used for the amount of money saved over a long period to use in the future
What is a nest egg?