Pension / Annuities
Turn today's savings into a steady income for retirement.
What it is
A pension or annuity plan helps you build a pot of money during your working years, then turns it into a regular income when you retire.
Certain plans, registered as deferred annuities with the Board of Inland Revenue, come with real tax breaks. You can claim a yearly tax deduction on the premiums you pay, up to TT$60,000 a year. That limit covers all of your pension contributions together, including your NIS payments.
When you reach your chosen retirement age, you can take up to 25% of your built-up fund as a tax-free lump sum, with the rest paid to you as a regular income. That is a welcome cash boost right when retirement begins.
Why it matters
- The state pension alone rarely covers the lifestyle you want.
- Claim up to TT$60,000 a year in tax deductions on your contributions.
- Take up to 25% of your fund as a tax-free lump sum at retirement.
- Starting early lets compounding do most of the work, ahead of inflation.
Product brochures
Official product brochures for plans in this line. Click to open the PDF.
Pension vs. Inflation Projector
See what regular contributions could become in a structured plan, and how much value plain savings lose to inflation.
Enter a monthly contribution and a retirement age above your current age.
Assumptions: Monthly compounding. Structured plan ~6%/yr, plain savings ~1%/yr, inflation ~4%/yr. Illustration only, not a guarantee of returns.
Ready to talk it through?
I'll walk you through pension / annuities and what fits your situation. No pressure.