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.
Use
the SIS Pension Fund to supplement your income during the years before you get
Social Security
Internal Links
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