Who needs a RAT?

Monday, January 16, 2012

Everyone with an income should be saving to provide sufficient funds to be able to live comfortably in their retirement.

As we are living longer, our retirement may last up to 30 years and additional funds are likely to be needed to top up the States pension.

Insurers' annuity schemes are no longer available to new Channel Islands members, and may be a more expensive and less flexible option for existing members than a RAT.

Employment contracts are becoming less favourable to retirement planning with many employers closing defined benefit schemes.

These are all reasons to contribute into a pension scheme such as The Menhir RAT which is a tax-efficient way of building an income for retirement and should be part of everyone's long-term financial planning.