As the employment sector grows ever more fragmented and terms of engagement constantly change, graduates and new job market entrants are faced with unique challenges. At the center of the mayhem is uncertainty in their financial futures.
Due to a higher rate of job instability, more heads within the workforce find themselves jumping from job to job at an accelerated rate making it difficult to develop a guaranteed retirement plan. For instance, the employment sector, especially private, struggles with a gap of consolidating 50% of their accumulated funds that they are not able to access until the age of retirement.
Also, many employees are presented with contracts painting an uncertain future when it comes to securing their post-retirement financial outcomes. If these two scenarios are a stack representation of your professional life, fret not.
The Jubilee Personal Pension Plan is well-versed with this challenge and has developed a product, laden with benefits, to ensure that even if you hop from job to job, your finances will be solid well beyond your professional life.
Statistics show that the average adult changes jobs 7 times before they reach the age of retirement, leaving the employees grappling with fragmented contributions, some of which are hard to trace several decades down the line.
In this tailor-made retirement savings plan, Jubilee Insurance offers a personalised platform that accords its clientele a chance to consolidate the 50% inaccessible balance of their pension benefits.
Benefits
The Jubilee Personal Pension Plan is designed to offer a highly convenient and flexible savings solution. It provides customers with multiple ways to submit their contributions, ensuring that everyone can find a method that fits their lifestyle. Whether through mobile money wallets, cheques, bank standing orders, or even cash, members can make regular payments into their pension plans with ease. This flexibility is especially important in today’s fast-paced world, where financial needs can change, and having a variety of payment options helps to maintain consistent contributions.
One of the standout features of the Jubilee Personal Pension Plan is its ability to help wealth grow over time through an attractive interest rate. Jubilee Life Insurance, the company behind the pension plan, has a proven track record of delivering strong returns on investment. Over the past decade, the insurance company has consistently declared an average return of 10% per year on the contributions invested in the plan. This return rate significantly outpaces the country's inflation rate, which ensures that contributors’ purchasing power is not only preserved but, in many cases, exceeded. This impressive performance makes the plan an excellent choice for individuals looking to build a secure financial future while combating the eroding effects of inflation on their savings.
Jubilee Life Insurance is also known for its commitment to providing an outstanding customer experience. The company has developed user-friendly online portals, which are designed to make it easy for customers to track their contributions and monitor their progress. These portals are transparent, allowing members to stay updated on their savings and interest accrued. This level of transparency is highly valued by customers as it enables them to make informed decisions about their retirement planning and adjust their contributions if needed. Additionally, the digital tools provided by Jubilee Insurance contribute to a more seamless and efficient user experience, which has become an essential feature in today’s digital age.
Jubilee Insurance takes a prudent approach when investing the funds of its members. Security is a top priority, and the company focuses on sustainable long-term returns that can provide a steady income in retirement. Members are assured that their accumulated funds are protected and managed responsibly. According to the company’s portal, they also guarantee the safety of the capital that has been accumulated, giving customers peace of mind that their hard-earned money will continue to grow securely.
To further enhance the benefits for its members, Jubilee Life Insurance provides an annual statement of account. This statement details all contributions made over the course of the year, as well as the interest earned on those funds. This not only ensures complete transparency but also allows members to see the growth of their investments over time. With such regular updates, members can track their progress and make adjustments to their contributions if necessary, ensuring that they remain on track to meet their long-term financial goals.
Another unique benefit of the Jubilee Personal Pension Plan is the opportunity for members to use their accumulated contributions as collateral for a mortgage loan. This feature is particularly beneficial for those looking to purchase a home, as it allows them to leverage their savings to secure financing. Moreover, contributions to the plan are eligible for tax relief, with individuals able to claim deductions for contributions up to Ksh 240,000 per year. This can help reduce their taxable income and provide additional savings in the long run.
Finally, one of the most attractive aspects of the Jubilee Personal Pension Plan is the absence of setup fees. This ensures that members can start building their retirement savings without any upfront costs. Furthermore, the plan guarantees accumulated capital and investment income, offering members a secure and reliable way to save for the future. With all these benefits combined, the Jubilee Personal Pension Plan stands out as a top choice for individuals looking to ensure their financial security and enjoy a comfortable retirement.
So what are you waiting for, secure your retirement plan and consolidate your contributions with Jubilee Insurance.