Pensions: how much can you expect from your company?

Know how much money you’ll receive when you hit retirement so you can make adjustments, if needed, as soon as possible.

14:47 27 June 2013

Most people do not have a crystal clear idea on how much pension they’re going to get from their employers once they retire. These people usually just rely on annual statements that are being given at the end of the year.

If you’re close to retirement, you need to know how much exactly you’re going to get so you can make preparations and adjustments. For example, if you think that the pension you’re going to get will not allow you to maintain the quality of life that you have right now, you can set aside additional money to boost your retirement fund.

Thanks to the Internet, calculating your pension cannot get easier these days. There are pension calculators online that you can use for free. These calculators will establish the sort of pensions you are heading to. They will take into consideration the savings you have accumulated so far and they will add future contributions. In order to get precise numbers, you will need to supply as much details as possible. It’s that easy!