Your pension is a lifelong work plan – it’s a marathon, not a sprint. From establishing it to building savings and finally creating a source of income, there are many elements to consider at every stage of your adult life. Most of us don’t get many proactive opportunities to plan for retirement, and it’s never something easy and simple. For these reasons pension advice can be so important to create an optimal pension portfolio for the present and the future.
In this article we will examine the reasons why it is important to use a professional pension insurance agent both when planning your pension and when choosing the insurance options and pension savings available to you.
Who needs professional pension management?
If you are employed (ie not self-employed or unemployed) then you will automatically be entitled to pension contributions for your pension insurance by the employer. As part of your pension arrangement in the company you work for, you will also receive pension advice and management by a pension insurance agent who provides services to the entire organization. However, you may choose a pension insurance agency or an independent pension insurance agent to manage your pension portfolio, regardless of the organization’s pension arrangement.
It is important to choose a professional and skilled pension insurance agent who will compare with you over time to ensure that your interests are protected based on familiarity with your unique needs and characteristics.
A comprehensive pension portfolio does not only include pension insurance to create savings and a monthly pension at retirement age, but may include additional pension products such as life insurance, and other savings and investment products such as a training fund, investment benefit and more. It is important to take all of these into account when considering and managing your pension future.
If you are self-employed or are currently not working, finding a quality pension insurance agent is of great importance to you. Self-employed workers must by law set aside funds every month for their pension insurance, just like salaried employees, while the pension contributions of an salaried employee are entrusted to the employer, a self-employed worker is solely responsible for making deposits to the pension insurance. That is why it is important to take out the pension insurance and the entire pension portfolio through a professional and excellent pension insurance agent who will supervise the making of deposits to the company that manages the pension insurance and create a comprehensive and high-quality pension portfolio for you for the future.
People who do not work, it is important that they manage their pension portfolio well through a pension insurance agent in order to make sure that they maintain an insurance continuity in the company that manages the pension insurance, so that they do not lose their rights and continue to accumulate insurance experience and save for the future.
Advantages of a pension insurance agent
The service of a professional and high-quality pension insurance agent gives you a number of notable advantages:
Helps you understand and manage risks
Helps you find and choose a variety of investments
Avoiding Common Mistakes That Can Be Costly
Savings in paying taxes and understanding tax reliefs
Understanding the costs involved in different investments
Good reasons to get financial advice from an expert for managing your pension:
Helps you manage money flexibly for the long term
Running regular reviews of your pension investments and proposing improvements
Keeps you on track to meet the most important goals for you
Peace of mind – with the help of a pension expert you will know that you are doing the right thing
Do you need a pension insurance agent to manage your pension insurance?
There is no legal obligation to use a pension insurance consultant for your pension insurance, this is probably the most important time in your life to ask for pension advice because it has far-reaching effects on your future.
The decisions you make today will have significant consequences on the pension you will receive at retirement age and for the 20-30 years that will follow. The sums of money that stand on the scales can range from tens of thousands of shekels to millions of shekels that are intended for your livelihood in the future, when you will depend on a source of income other than work. Considering the importance of the decisions you will make, it is therefore advisable to seek expert advice at this stage – just as you would use a lawyer when purchasing an apartment.
For example, if you are considering purchasing an additional pension product to create savings for retirement, you will need to think about the type of savings or investment you want considering the characteristics of each of the pension products available on the market. Pension benefits that come from savings in solid investment channels are determined by choosing your investment routes in the pension insurance and are expected to be lower than pension insurances that are invested in more profitable investment channels.
Pension investment products are linked to investment avenues that are affected by the performance of investments in the capital market, bonds, securities, various funds and more, so that the savings accumulated over the years vary according to the investment paths you have chosen and have a large effect on the amount of final savings when you reach retirement age.
Also, the pension savings are joined by insurance coverage in cases of death and loss of working capacity. It is important to adjust the coverage to the personal characteristics of each insured in order to ensure optimal financial security for him and his family members. A professional and high-quality pension insurance agent can help you find the right pension product for you under the most profitable conditions and management fees.
The management fees you will pay throughout the savings period have an effect on the amount of savings accumulated, therefore it is important to choose a quality pension product that suits you on the one hand, and with management fees as low as possible, on the other hand. Because quality pension insurance agents work with many insurance companies and investment houses, they can best provide this to you.
Why should you choose WISE’s pension management?
At wise you will find a broad umbrella of pension and financial services that will allow you to enjoy the creation of a comprehensive and well-managed financial and pension plan that fits exactly the unique needs of you and your family members and your future goals.
Our experts examine all the financial and personal aspects of your family unit and based on that, create a broad and in-depth financial and pension plan for you that covers every financial and family aspect and allows you to enjoy peace of mind and optimal financial management for many years.
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