Secure a fulfilling retirement with the Old Mutual Retirement Salary product

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Secure a fulfilling retirement with the Old Mutual Retirement Salary product

Retirement planning is a necessary process if one wants to secure a hassle-free retirement and make good use of the resources gained from their active work life. Aging comes with its share of complications but planning towards this stage of life helps to reduce stress and the added worry of burdening family and friends later in life.

Financial planning is a crucial part of this process and involves setting goals while still actively working and helps to ensure that you have sufficient provisions to enjoy a guaranteed monthly income for the rest of your life.

In planning for retirement, the following considerations should be taken into account:

  • Firstly, individuals need to choose a secure retirement plan with relatively minimal risk to avoid uncertainties and disappointments
  • Secondly, look to partner with a trusted financial institution to manage your retirement plan

Old Mutual Ghana has fast become an expert in designing a wide range of innovative life and pension products, tailored to the needs of individuals and families to secure and grow their wealth. Old Mutual customers enjoy rewarding benefits with added peace of mind.

The newest innovation which is the first in the industry designed purposely for retirees is the Old Mutual Retirement Salary, making retirement planning relatively easy.

The Old Mutual Retirement Salary is an annuity plan designed for retirees to provide a regular stream of income after a lump sum payment. Once this lump sum payment is made, the customer begins to receive their monthly salary for the rest of their lives.

Old Mutual Retirement Salary Benefits include:

  • Guaranteed Income for Life

The Old Mutual Retirement Salary has been designed to pay the retiree for the rest of their lives. The lump sum deposited is structured into a monthly stream of income for the customer. They are assured of a quick and secured stream of income that is paid promptly.

  • Joint Spousal Option

The customer has the option of signing on to the retirement salary product with their spouse. This means that a regular income will be paid to both the customer and his or her spouse for the rest of their lives.

  • Funeral Cover

The customer has the option of adding a funeral cover benefit. On the death of any of the lives covered, a separate funeral benefit can then be paid out to separate beneficiaries with no waiting periods and no medical tests required.

  • Guaranteed Term: 

The regular retirement salary will cease when the customer passes on. However, a minimum period of years can be selected by the customer when the product is purchased for which the income is guaranteed to be paid even after the customer dies. Nominated beneficiaries can also receive the remaining income in the guaranteed term. 

Old Mutual Retirement Salary Features

  • Retirement salary matures a month after payment of lump sum.
  • Bonuses are given in the form of incremental income every year.
  • In joint spousal option, spouse can assume ownership of the policy upon the passing of the main life and continue to receive retirement salary.

 

 

 

 

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