Transitioning to Retirement – Important Considerations for Your Estate Plan
The central objective of flexible transitions to retirement is to reduce financial costs. These costs must be generated in some way, such as by the individual, collective or employer, in the case of occupational pensions. But these costs are not always easily accessible, as they vary according to the type of pension, the duration of the retirement period, and other factors. However, there are a number of measures that can help people make their transition to retirement more financially flexible and easier. Flexible retirement transitions The design of a flexible retirement transition plan plays a significant role in modifying the effects on individual wellbeing. In many cases, such arrangements are favorable to individuals, so the overall effect is positive. For example, gradual retirement does not require a significant loss of income, but it does imply the decision to give up a main career or accept downward mobility. Further, such measures…