The calculator below will help you work out if you are saving enough for retirement. The calculator will tell you what your retirement benefit ratio is. Normally the retirement benefit which you will receive as a pension should be at least 75% of the salary you will be earning when you retire. Fill out the form below to see if you are saving enough.
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When you retire the total estimated savings shown above will be used to give you a monthly pension. The replacement ratio is the percentage of your final salary that will be paid out as your monthly pension.
If your replacement ratio is less than 75% you need to take action to ensure you have sufficient funds to live on when you retire. You can:
- Increase your monthly contribution
- Retire later by delaying your retirement date
- Switch to a higher risk equity fund
- Speak to the Fund Advisors, Optimate Financial Solutions, to find the best solution for your retirement.
You can use the calculator again and change your monthly contribution and retirement age to see how if will affect your replacement ratio and the amount you will receive as a pension.
Once you have found the right replacement ratio you can complete the fund application forms in the next section.
