{"id":5037,"date":"2021-08-19T17:48:45","date_gmt":"2021-08-19T15:48:45","guid":{"rendered":"http:\/\/weekly.uhm.org.mt\/?post_type=article&#038;p=5037"},"modified":"2021-08-19T17:51:12","modified_gmt":"2021-08-19T15:51:12","slug":"il-kalkulatur-tal-gbid-ta-flus-mill-programm-tat-tfaddil-tieghi","status":"publish","type":"article","link":"http:\/\/weekly.uhm.org.mt\/en\/article\/il-kalkulatur-tal-gbid-ta-flus-mill-programm-tat-tfaddil-tieghi\/","title":{"rendered":"Introducing the My \u0120EMMA Savings Programme Withdrawal Calculator"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"669\" src=\"http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/iStock-1205213679-1024x669.jpg\" alt=\"\" class=\"wp-image-5038\" srcset=\"http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/iStock-1205213679-1024x669.jpg 1024w, http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/iStock-1205213679-300x196.jpg 300w, http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/iStock-1205213679-768x502.jpg 768w, http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/iStock-1205213679-1536x1004.jpg 1536w, http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/iStock-1205213679-2048x1338.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>Download the My \u0120EMMA Savings Programme Withdrawal Calculator by clicking <\/em><a href=\"https:\/\/gemma.gov.mt\/wp-content\/uploads\/2021\/04\/GEMMA-Savings-Programme-Withdrawal-Calculator.xlsx\"><em>here<\/em><\/a><em>.<\/em><\/p>\n\n\n\n<p>Early on in your mid-20s you took the decision to start planning for your retirement \u2013 by saving in a retirement plan and later after you paid the mortgage and the kids left the nest by saving in a bank account.<\/p>\n\n\n\n<p>A decision to plan for retirement is a decision that seeks to ensure that you enjoy a quality of life that is similar to that you enjoyed whilst employed. In doing so, through your retirement nest you will complement your social security contributory pension income.<\/p>\n\n\n\n<p>So, let\u2019s assume that by the time you retire at 65 years of age your retirement nest egg is \u20ac70,000.&nbsp; The following are planning considerations that you may consider on how you are going to plan the use of these savings during retirement:<\/p>\n\n\n\n<ul><li>Will draw down up to nearly 90 years of age<\/li><\/ul>\n\n\n\n<p>annual draw down of \u20ac3,800<\/p>\n\n\n\n<ul><li>Will draw down up to my life expectancy (79 years of age)<\/li><\/ul>\n\n\n\n<p>annual draw down of \u20ac5,987<\/p>\n\n\n\n<ul><li>Will draw down up to my healthy life expectancy \u2013 74 years of age<\/li><\/ul>\n\n\n\n<p>annual draw down of \u20ac8,792<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"502\" height=\"267\" src=\"http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/image-2.png\" alt=\"\" class=\"wp-image-5039\" srcset=\"http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/image-2.png 502w, http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/image-2-300x160.png 300w, http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/08\/image-2-283x152.png 283w\" sizes=\"(max-width: 502px) 100vw, 502px\" \/><\/figure>\n\n\n\n<p>As you can see from the above Table, depending on the decision you take you can increase your pension income as a result of your savings by \u20ac3,800 to \u20ac8,792<\/p>\n\n\n\n<p>You are able to draw this amount as over time your retirement post is being annually topped up by a compounded interest.\u00a0 The amount of top, however, decreases from year to years as your savings decreased as a result of the programmed withdrawal.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"235\" height=\"125\" src=\"http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/06\/image.png\" alt=\"\" class=\"wp-image-4832\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"843\" height=\"285\" src=\"http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/06\/GEMMA-150dpi.png\" alt=\"\" class=\"wp-image-4830\" srcset=\"http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/06\/GEMMA-150dpi.png 843w, http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/06\/GEMMA-150dpi-300x101.png 300w, http:\/\/weekly.uhm.org.mt\/wp-content\/uploads\/2021\/06\/GEMMA-150dpi-768x260.png 768w\" sizes=\"(max-width: 843px) 100vw, 843px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Download the My \u0120EMMA Savings Programme Withdrawal Calculator by clicking here. Early on in your mid-20s you took the decision to start planning for your retirement \u2013 by saving in [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":5038,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"_mi_skip_tracking":false,"spay_email":""},"issuem_issue":[233],"issuem_issue_categories":[222],"issuem_issue_tags":[],"translation":{"provider":"WPGlobus","version":"2.8.8","language":"en","enabled_languages":["mt","en"],"languages":{"mt":{"title":true,"content":true,"excerpt":false},"en":{"title":true,"content":true,"excerpt":false}}},"_links":{"self":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/5037"}],"collection":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article"}],"about":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/types\/article"}],"author":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/comments?post=5037"}],"version-history":[{"count":2,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/5037\/revisions"}],"predecessor-version":[{"id":5042,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/article\/5037\/revisions\/5042"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/media\/5038"}],"wp:attachment":[{"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/media?parent=5037"}],"wp:term":[{"taxonomy":"issuem_issue","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue?post=5037"},{"taxonomy":"issuem_issue_categories","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue_categories?post=5037"},{"taxonomy":"issuem_issue_tags","embeddable":true,"href":"http:\/\/weekly.uhm.org.mt\/en\/wp-json\/wp\/v2\/issuem_issue_tags?post=5037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}