We all know how important it is to have a savings plan in place for our retirement, but what happens to our retirement plans if our career paths change? Moving between jobs, or being retrenched or dismissed, usually means that the money you have saved up so far in your retirement fund becomes available to you.
If this happens, it’s vital to make good choices about what to do with that money. Taking it in cash means you have to start over with your pension savings – and it costs you a lot in tax. One of the best things you can do for your future is preserve your retirement benefit so that it keeps on growing for you to enjoy when you go on pension one day.
Old Mutual offers various solutions to help you keep your retirement plans on the right track: