Different people perceive retirement differently and there is no single plan that fits the diverse needs of people. This is why most people face some dilemma while planning for their retirement. Basically, at retirement, people who have worked hard for all their lives need to start scaling down their activities and enjoy the fruits of their hard work, and also spend time with their families.

With several retirement planning options in Singapore, you know that there exist amazing options. With the right choice of a plan, you can reduce the stress that is associated with retirement. You can continue enjoying your life without worrying about what might happen to your quality of life or that of your loved ones.

What type of retirement plan do you need?

The best retirement plan is the one that is flexible, and which you can control. It should be able to sustain your lifestyle after you retire. It should also be predictable, so you can choose a product that can sustain your lifestyle after you have exited active employment. You need something that guarantees a steady flow of income for you and your loved ones while you are in retirement. Here are three of the best retirement plans in Singapore:

1. NTUC Income Gro Retire Flex plan

This is a perfect plan for those who are interested in disability coverage and high yield. It’s lost well for people who envisage a flexible retirement age. With this retirement plan, you can choose to pay a single premium or opt for flexible payment options for between 5 and 30 years. With this plan, you are free to select your payout term, and you are free to set your number of years at 10, 20, or up until the age of 100. This plan offers the best, and the most comprehensive disability plan that you can find in the market, and caters for loss of one limb, loss of hearing, loss of eyesight, and speech loss

2. Aviva MyRetirement Choice III

This retirement choice serves those who are interested in flexible disability claims. You can select a limited premium term of between 5 and 25 years and the payout term can be between d five and 35 years. If the holder of this policy cannot do 2 of the 6 chores of daily living at the retirement payout period, an additional payout guarantee that is 50% of the monthly income-benefit of the policyholder is provided.

3. Manulife RetireReady plus III

This plan is a superior choice for residents of Singapore who want to safeguard their financial future, especially against retrenchment. It’s a fact that retrenchment can send you into unknown territory. You can fix your retirement age at between 50 and 70 years and offers a disability benefit, which in essence waives future premiums payable when you are no longer able to do two of the 6 chores that are a part of everyday living. The payout terms can be between 5 and 20 years or you can choose lifetime payouts. Amazingly, this plan doesn’t require any medical underwriting, and the option for a premium freeze can be exercised two years after the policy came into force.