Why Save for Retirement

Saving for Retirement

7 Reasons why you need to save for Retirement

Traditional systems of old-age security are breaking down. Are you sure that your children will take care of you when you retire?
Advances in medicine and technology are making people live much longer after retirement.
Wouldn't you like to maintain or improve your standard of living when you are retried?
Contributions to registered retirement Benefits schemes are tax deductible. For example, if you earn Shs 50,000.00 and contribute Shs 5,000.00 to a registered scheme, your PAYE income tax will be calculated on Shs 45,000.00 and not Shs 50,000.00 yet your contribution of Shs 5,000.00 still belongs to you.
If you are a member of an occupational retirement Benefits scheme, then your employer also contributes to the scheme, thus effectively increasing your gross earnings.
Investment income earned by registered retirement Benefits schemes is tax-free. No withholding tax on interest or dividends, no income tax on rent etc.
If you lose your job your retirement Benefits savings can be an invaluable nest egg.

If you would like to join an individual retirement benefits scheme please see the list below. We suggest that you take time and shop around and make a good comparative analysis before selecting the one to register with.

View individual retirement benefits schemes.