What is your superpower?
Making sense of the exciting world of retirement I believe is my superpower, don’t get me wrong I’d rather have x-ray vision or invisibility but there isn’t much call for either of these in the Employee Benefit world!
A perfect example was a meeting I had a few years ago with a member of staff who didn’t want to join the pension scheme because he was too old and he didn’t believe in pensions (he was 55 by the way!). It’s my job to explain the benefits to staff and try and get them to understand and it is not always easy with pensions because it’s seen as a bit of a dark art!
Anyway, he was adamant he wasn’t joining until I asked him if he had to make a choice between a savings plan and a pension what would he choose, his choice of course was the savings plan and I can see the reasons, it’s just simpler to understand, and pensions are just bad news aren’t they?
‘Simples’ I thought,
I explained to him that the pension scheme for him at 55 was just a 10-year savings plan. Of course, there are differences and I explained those, but in essence all a pension plan is, is a longer- term savings plan. For him it was just 10yrs, for you its maybe 15 or 20yrs, you get the idea, but the best bit is the tax relief and the employer contribution being paid in so, why wouldn’t you join and contribute. In my opinion, it just doesn’t make any sense not to!
Anyway, I’m typing this on a Friday afternoon and have another episode or two of ‘Ozark’ to watch on Netflix tonight, living the dream!
Contact Ethos Financial Solutions anytime, we have several superpowers (advisers) you can tap into.Publish date: 25th February 2021