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Retirement Planning Takaful Calculator

Retirement should be a time of relaxation. It is the time when you are finally able to enjoy the fruit of your labour to the fullest and spend every precious moment with your loved one. It is also the time when you can finally do things that you put off to do because of your busy working schedule. You can travel, perform a Hajj or just stay at home and spend your free time doing what you are passionate about. After all, you already work hard enough.

However, the reality isn’t always as rosy as we expect it to be. Plenty of retirees, due to improper planning of their retirement end up with more than what they could chew. Some still have debts to pay, some just realised that their current income can no longer sustain their usual expenses and even worse, some squander their retirement money away by spending it on unnecessary impulse and some got cheated by scams or conmen and lost all their retirement money in a blink of an eye. Consequently, they have to continue looking for a job and continue working even after their retirement. Sadly, the prospect of getting hired after retirement is lower.

It’s true that no one could predict the future but we could properly plan for it. Great Eastern Takaful understands that this phase of life could be trying to the retirees since it could lead to an abrupt change not only towards their lifestyle but also towards their finances. Therefore we are committed to providing you with a takaful retirement plan so that when the time comes, not only you are fully prepared, but you will also be able to enjoy your retirement and live your life to the fullest without having to worry about your finances.

Great Eastern Takaful provides you with our handy calculator that will help you to work out the amount you'll need to sustain your lifestyle and enable you to comfortably enjoy your golden years. All you need to do is fill in information such as your gender, your age, the age you plan to retire, the duration of your expected income after retirement, your desired lifestyle, your future expenses, and your existing provision. Once you fill in all these details, we will help you calculate how much do you have to say monthly in order to maintain your desired retirement lifestyle. Should you need more guidance about finding a takaful retirement plan that suits your need, you can always contact a Great Eastern Takaful Advisor for advice.

Your Details

Male
Female

How old are you?

18
70
Current age cannot be too close to your retirement age.
0

At what age do you plan to retire?

18
99
Would you like to retire at a younger age?
0

How many years of income do you require during retirement?

Based on data from the Malaysia Department of Statistics: average life expectancy for a male is 72, and 77 for a female. You can adjust the life expectancy on below slider.
18
99
Retirement age cannot be too close to life expectancy.
0
0

What is your desired retirement lifestyle?

Modest
Comfortable
Premier
Your future expenses (at today's prices)
per month
Your future expenses (at today's prices)
per month
Your existing provision when you retire (at today's prices)
Your existing provision when you retire (at today's prices)

Here are your estimated coverage needs

You are a aged
You plan to retire at

You're planning for

years of retirement

Factoring an annual inflation rate of
%,
the future value of your desired monthly income when you reach
is S$3,115.93

Assuming you are able to generate a
% rate of return, the amount you need at your desired retirement age is S$1,086,374.51

With an existing provision of
you will face a total shortfall of S$0
To maintain your desired retirement lifestyle, you will need to save
per month from now The annual inflation rate is 3%.

Monthly expenses are derived by inflating monthly contributions from current age until the day you want to cash in your savings plan. The core inflation rate is typically lower than the Consumer Price Index (general inflation rate).

How do I start?

The above may sound hard to achieve, but we can help. At Great Eastern Takaful, we build solutions made to see you reach your goals. Simply contact a Great Eastern Takaful Advisor now for advice. Or click on the button below to learn more about our selection of relevant plans!

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Note: This calculator is intended to provide estimates only.
Please speak to a licensed Great Eastern Takaful Advisor for a recommendation tailored to your specific needs.
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