Keep your SIS Pension money flexible
With the NASI Pension Plan, you are forced to make a decision that you will live with for the rest of your life. The pension benefit choice of the NASI Pension Fund is a BIG decision. Part of the beauty of the SIS Pension Fund is its flexibility. The Trustees encourage you to make small decisions about your SIS Pension Plan money – keep flexible.
Most people shouldn’t tie up their SIS Pension Plan money in an annuity that will pay them for the rest of their lives. (Who should consider this? If you are bad at not spending all of the money you have, maybe you need the discipline of a monthly check that an annuity payment can give you. If you inherited great genes from your parents and plan to live for many many years, an annuity is a great way to make sure your SIS Pension money lasts for the rest of your life.) By withdrawing only a portion of your SIS Pension Fund, perhaps the amount you expect to need for the next year, you will have added flexibility of that unexpected expense, like your roof needs to be replaced.
You can make additional withdrawals for unexpected expenses or you might have the money in your Money Market savings account. If you spend your money faster than you had planned, you might have to take your next withdrawal a bit sooner than you otherwise planned, but you won’t be locked in to only receiving the same monthly payment. Keep your SIS Pension money flexible. For a few ideas about how to do that, follow the links below.
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