‘Retirement planning can be a cause of anxiety due to people not knowing how much money they will need to maintain their standard of life during their retirement years, and not knowing how to secure that income.’ This was stated by Sandra Magro, Manager at BOV’s Investments Centre during a seminar organised entitled ‘Encouraging Motivation while Coping with Anxiety’, an event organised by the Malta Union of Midwives and Nurses in collaboration with Bank of Valletta and the Learning Institute for Healthcare Professionals.
‘Our mental health can depend on how well we believe we can provide for ourselves and our families. When we feel there isn’t enough, we can have our sense our survival being threatened,’ said Ms Magro. ‘Planning ahead with confidence, at whatever stage of life you’re in, is key to securing a comfortable life post retirement age. One can choose to rely on the government pension, which, to date, has been secure and definite, which however may not be enough to secure one’s ambitions following retirement.’
‘Another option is long-term investments through voluntary personal retirement pension schemes,’ continued Ms Magro. ‘The retirement benefits you receive from your pension plan will depend on a number of factors that include the value of your plan, the choice of investment strategy and the choice to either receive a lump sum plus an income or wholly as monthly income.’
Bank of Valletta is inviting people interested in financial peace of mind through healthy retirement planning to set an appointment with a BOV Financial Advisor through https://www.bov.com/Assistants/set-an-appointment, by calling +356 2131 2020 or by email on bovic@bov.com
Source: bov.com