They say hindsight is 20/20, however Sagicor is encouraging everyone to avoid waiting until it is too late before realising they have not adequately prepared for their retirement years.
The advice came from Eon Phillips, Assistant Vice President, Insurance Operations; Principal Representative and Branch Manager for Sagicor Life (Eastern Caribbean) Inc. (SLECI), in St Lucia.
He was at the time discussing some of the misconceptions individuals have surrounding pension planning, and the steps that should be taken during their most productive years.
Mr. Phillips made the point that the average working life is around 40 years. This is followed by an average retirement period of 15 to 20 years, which is a long time to be able to live without the requisite amount of funds.