fbpx
Share Now
most flexible retirement plan

Top 4 Most Flexible Retirement Plans in Singapore

Withdraw Now, or Withdraw Later? That is the Question!

If you can’t decide on the best plan for you, don’t fret—you’re not alone. Many of our readers come to us with these very questions, and they want to make sure they have the most flexibility in their decisions. That’s why we listed five plans that let you choose your own withdrawal date! And the most flexible withdrawals start with a percentage of your plan’s savings, so you won’t lose out if you wish to extend your retirement age. As a result, you can choose your withdrawal date based on whichever schedule works best for your needs!

And whatever plan works best for you and your financial situation, these plans give you more control over your future than ever before. Hence, when it comes to choosing the best option for retirement distributions, it pays to be flexible!

In order to best help you figure out which retirement plan is the best for you, we’ve put together a list of the top 5 most flexible retirement plans available to Singaporeans. In no particular order, these are:

#1 NTUC Income Gro Saver Flex – Most flexible retirement plan

NTUC Income Gro Saver Flex - Most flexible retirement plan

Gro Saver Flex is a blend of guaranteed and variable savings that grow with you.

With the NTUC Income Gro Saver Flex option for maturity at Age 120, you can enjoy the flexibility at cashing out anytime. The great thing about this plan is that it’s open-ended and you do not have to decide on your Retirement age right now. This is a definite win-win situation for everyone!

Key features:

  • Choice of policy term till age 120
  • Policy continuity with Secondary Life Insured
  • Premium waived upon Total and Permanent Disability (TPD)
  • Defer premiums for 6 months upon Retrenchment

source NTUC Income

#2 Manulife ReadyBuilder (II) – Most flexible retirement plan

Manulife ReadyBuilder (II) - Most flexible retirement plan
Manulife ReadyBuilder (II) – Most flexible retirement plan

Manulife ReadyBuilder (II) is one of the best retirement plans in Singapore. It includes one of the highest returns and the most flexibility for your retirement.

This plan provides flexibility when growing your wealth such as with the option to pause your premiums while keeping your policy in force or receive a Retrenchment Benefit in the event of prolonged unemployment to keep you financially safe in times of uncertainty. You can also continue your wealth accumulation up to age 120 by appointing your loved one as the new life insured.

This Singaporean retirement plan comes with a full package of benefits and options, including:

Key features:

  • Long maturity up to age 120
  • Flexibility to access the cash value
  • Premium waived upon Total and Permanent Disability (TPD)
  • Receive a lump sum equivalent to 50% of 1 year’s premium upon Retrenchment
  • Option for Premium freeze for 1 year
  • Policy continuity by appointing your loved one as the new life insured

 #3 AIA Smart Wealth Builder – Most flexible retirement plan

AIA Smart Wealth Builder - Most flexible retirement plan
AIA Smart Wealth Builder – Most flexible retirement plan

The AIA Smart Wealth Builder is a retirement plan designed to help you grow your savings and maximize your current income. As it is a series of savings plans that aim to magnify your savings while giving you the flexibility to withdraw the funds to support your goals as you reach different milestones in life.

So, grow your savings for you and the generation after with potentially higher returns as you earn guaranteed cash value and non-guaranteed bonuses up to age 125.

Key features:

  • Long maturity up to age 125
  • Flexibility to access the cash value
  • Policy continuity with Secondary Life Insured

#5 Singlife with Aviva MyChoiceSaver – Most flexible retirement plan

Singlife with Aviva MyChoiceSaver - Most flexible retirement plan
Singlife with Aviva MyChoiceSaver – Most flexible retirement plan

This comes with their promise that you’ll get your money back and flexible options to suit your needs now and in the future.

Whenever you are saving money, think of all the ways you’ll be able to do more with it once you reach your goal. So, you should be able to save with no worries and without sacrificing your flexibility.

So it’s time to try something new with your money: growing it on your own terms.

Singlife with Aviva MyChoiceSaver is one of the best retirement plans in Singapore because it offers:

Key features:

  • Choice of policy term till age 99
  • Additional payout for accidental death
  • Option to change Life Assured

Make sure you pick the most flexible retirement plan

Like any other important life decision, planning for retirement should take a lot of forethought. Since there are many factors to consider when you’re planning for retirement — from how much you’ll be needing each month to what your health goals are. It can be overwhelming.

Retirement planning is a big task, but it doesn’t have to be intimidating. You don’t need an advanced degree or a lot of money to be on the right track — if you’ve got some basic information, you can make smart decisions and get started with a solid plan.

Choosing your retirement plan is no easy feat. With so many options and factors to consider, it’s easy to get lost in the process. That’s why today, we want to give you a hand. A 40-year-old male non-smoker was selected for the comparison as follows:

Most Flexible Retirement Plans in Singapore

Do your homework and make sure you understand the product properly before committing

If you want to be sure you can make the right decision for your personal needs, visit www.lia.org.sg to download the Your Guide to Participating Policies, and find out how to make sense of these plans. Also, this guide gives you the information you should know before you purchase any participating policy, general information about how a participating policy (such as an endowment or retirement plan) works, even right down a dispute resolution — if you have a complaint about your policy.

A lot of us are faced with financial responsibilities in our lives that we don’t want to deal with. As a result of this, many people put off planning for their retirement and it could be a costly mistake. I’ll show you that retirement planning doesn’t have to be difficult…

Takeaway: Choose your own retirement annuity withdrawal date with these 4 plans!

Now more than ever, people are realizing the importance of planning for retirement. But today, there are many factors to consider when deciding how and where to save for retirement—way more than in the past. Then thankfully, Retirement plans that provide flexibility can make the decision to save for retirement less daunting.

Do not buy a plan that does not suit your needs. We’ll be happy to help you plan today!

Comments are closed.

Disclaimer
  • MoneyLine.sg is an independent information provider. It is not a bank or financial services provider and cannot give direct financial advice.
  • All Sample Premium results if shown are based on the criteria indicated and MoneyLine.sg does not warrant or guarantee that anything written here is accurate, timely, or relevant to the solution of any problem you may have.
  • Contents are intended as general information only and do not consider financial situation or need of any user or reader, any specific person or group of persons. It does not constitute advice nor does any part of the content constitute an open offer capable of forming the basis of a contract.
  • Promotions indicated on this page may not be accurate and may be subjected to changes by providers without warning. Moneyline.SG does not take responsibility for the accuracy of the information shown in this content.
  • You are recommended to seek financial advice from a qualified financial adviser for product suitability and its latest premium rates quotation before deciding to purchase the product. In the event you choose not to seek advice, you should consider if the product is suitable for you.
  • Without prejudice to the generality of this, MoneyLine.sg Pte Ltd specifically excludes liability for any loss or damage no matter how arising from the use of this Web Portal or of any information or services provided through this web portal.
  • Please read our full Disclaimer on the use of our website.
×