It’s a RAP

First Citizens Investment Services is ready and able to help Vincentians prepare for life after work.{{more}}

On Tuesday this week, the financial institution unveiled its Retirement Advantage Plan (RAP) to members of the media, during a press briefing at the company’s offices in the Sprotts Building on Bay Street.

Norlan Gabriel, First Citizens country manager, informed the media that the plan was a flexible initiative that allows employees an alternative pension plan or an arrangement that would complement plans that are already available.

Gabriel said that the plan featured a minimum start up investment of $100 per month, with the option of increasing contributions at any time.

Persons between the ages of 18 and 55 can sign up for the new plan, with a minimum contributory period of 10 years, with retirement options from age 55 to 65.

According to Gabriel, individuals should be thinking about retirement the moment they start working at their first job.

“I know when most people hear about retirement they think ‘that’s not for me, I’m not old; I’m not about to stop working….’

“That’s the time you should be thinking about retirement and if more people did that, more people would find that they were in a much better position when they do stop working to continue living.”(JJ)