Individual Pension Plan

An Individual Pension Plan (IPP) is a personal savings plan that allows individuals to set aside money for their retirement. Designed to help you accumulate funds for your retirement years, an IPP is established by you, rather than through your employer. It offers various benefits, including tax advantages and a range of investment options

Overview

An Individual Pension Plan (IPP) is a retirement savings plan that allows individuals to save and invest for their retirement in a tax-efficient manner. It is designed for those who are self-employed, freelancers, or anyone looking to supplement their existing pension or retirement savings outside of their employer’s pension scheme.

Our main products features include:

At Convenor Insurance Agency, we offer tailored Individual Pension Plans (IPPs) designed to help you secure your financial future. Here is what you can expect from our personalized pension solutions:

  1. Voluntary Contributions:
    • Decide how much and how often to contribute, with flexible options that suit your income and retirement goals.
  2. Tax Advantages:
    • Enjoy tax-deductible contributions up to the allowable limit, reducing your taxable income while growing your retirement savings.
  3. Investment Growth:
    • Your contributions are professionally managed and invested in diversified portfolios, such as equities, bonds, and real estate, to maximize long-term growth.
  4. Portability:
    • With Convenor Insurance Agency, your plan stays with you, even if you change jobs or move to a new location.
  5. Retirement Benefits:
    • Access your savings when you reach retirement age (typically 55 years or older), with options for lump-sum withdrawals or periodic payouts for a steady income.
  6. Flexible Access:
    • Partial withdrawals may be available under specific conditions, such as medical emergencies or early retirement needs.
  7. Professional Management:
    • At Convenor Insurance Agency, our experienced fund managers ensure your contributions are invested wisely to deliver optimal returns while minimizing risks.
  8. Inflation Protection:
    • Our investment strategies are designed to outpace inflation, ensuring your savings retain their value over time.
  9. Survivor Benefits:
    • In the unfortunate event of your passing, your accumulated savings are transferred to your nominated beneficiaries, providing security for your loved ones.
  10. Customizable Contributions:
    • Adjust your payment amounts and schedules anytime to align with your changing financial circumstances.
  11. Convenient Payment Options:
    • Contribute through mobile money, bank transfers, or direct deposits whichever method works best for you.
  12. Regulatory Oversight:
    • Rest assured that our plans comply with guidelines set by the Retirement Benefits Authority, ensuring transparency and security.

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