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Retirement journey
Retirement journey: Making every stage count
No matter your age, it is never too late or too early to start saving for retirement. While your needs and goals change over time, one principle remains constant: consistency is key.
With the flexibility provided by the Smartlife Flexi plan, introduced under the NSSF Act Cap 230, individuals can now save for retirement on their own terms regardless of their stage in life. They can decide how much to save, how often to contribute, and how long to keep saving, all while earning a competitive monthly return that accrues daily.
Enrol for Smartlife today. The guide below offers practical steps to support our members in navigating their retirement journey through every stage of life:
20s
In your 20s – Build the foundation and set your retirement goals
- Start saving early, even if your income is low. Small contributions can grow significantly thanks to compound interest. Small amounts can earn you worthwhile compound interest
- Live within your means and save regularly
- Start saving from as early as age 16: Join NSSF
30s
In your 30s – Set priorities and create a financial plan
- Grow your income, avoid withdrawing savings, and invest wisely. Use bonuses and returns to boost retirement savings such as considering a 15-year mortgage to secure a home for the future
- Boost your savings anytime through the NSSF Voluntary Membership Programme
40s
In your 40s – Grow aggressively and assess your financial situation
- Balance responsibilities with aggressive saving and building income streams
- Consider your passion by starting another stream of income. Start or grow a side business you can sustain into retirement
- Eligible for midterm access? If you’re 45+ and have saved for 10+ years, access up to 20% of your savings to grow your investments: Midterm Benefits
- Turn your idea into a business: Hi-innovator
50s
In your 50s – Prepare for retirement by maximising retirement contributions
- Pay off existing debt and increase retirement savings. Eliminate debt and increase your retirement contributions. Shift to safer, income-generating investments and prepare emotionally and financially for life after work
- You can access your retirement benefits: Retirement Benefits
60s
60 and beyond – Enjoy the rewards
- Protect your savings and manage your money for longevity. Invest in low-risk, liquid products to support emergencies and daily needs