Module 4 Lifestyle Factors That Impact on Pension Benefit Decisions
This module is an overview to assist with the provision of guidance for members.
At the end of this module you will be able to:
- Describe the lifestyle factors which should be taken into account when making decisions at or in retirement.
- Identify the impact of retirement age on a pension
- Recognise health factors to be considered
- Explain the importance of marital status
- Understand the impact of inflation
- Describe the impact of taking funds as cash rather than pension
You will see that age, health and marital status are major lifestyle factors. The member needs to consider these when making decisions.
