Certificate in Retirement Adequacy Planning

Introduction Many people in Singapore are inadequately prepared for retirement; a survey conducted by a local Bank found that only a quarter of the 1,000 survey respondents had any form of financial plan to sufficiently meet their retirement needs. However, more than 75 percent of respondents stated that one of

Speakers

Ronald Wong
PRINCIPAL INSTRUCTOR for CFP and CPD Programs
MBA, CFP®, ChFC®, CWM®, ChMA, AEPP, STEP Associate

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CPD Training

Introduction

Many people in Singapore are inadequately prepared for retirement; a survey conducted by a local Bank found that only a quarter of the 1,000 survey respondents had any form of financial plan to sufficiently meet their retirement needs. However, more than 75 percent of respondents stated that one of their long-term financial goals was to retain enough earnings to fund a comfortable retirement. The survey findings also revealed that:

  • Many are unaware of how to start retirement planning;
  • The main obstacle to planning is a lack of clarity about appropriate financial products;
  • Some are facing setbacks in retirement planning due to insufficient savings that can be deployed to investment for retirement;
  • Most respondents hope to have a monthly retirement income of around $3,500, starting at the age of 65. However, they also underestimated the amount they need to save to fund their desired retirement lifestyle.

Objectives of the Course

One of the main concerns of retirement is financial security when one can no longer continue working due to old age. Besides the CPF LIFE Scheme, several financial strategies and tools are also available to supplement the retirement income to provide financial security. The professional guidance of a Financial Adviser Representative (FAR) like yourself is invaluable in helping your client achieve financial security at retirement.

The Certificate in Retirement Adequacy Planning (Cert. REAP) program empowers you with specialized knowledge in retirement income planning and gain a foothold in the retirement segment. Through this course, you will significantly enhance your professional competency to help your clients achieve retirement security.

Learning Outcome

Upon completion of this course, you will be able to:

  • understand the principles of retirement income planning and educate your client about the importance and challenges of retirement adequacy;
  • design a retirement income portfolio to complement the CPF LIFE Scheme and other programs such as the Supplementary Retirement Scheme (SRS) and Enhanced Lease Buyback Scheme (ELBS), etc;
  • develop retirement income strategies that support your client’s retirement objectives;
  • differentiate your value proposition and gain the trust of your client using our proprietary frameworks and holistic retirement income planning approach taught in this course;
  • apply and implement various retirement funding and cashflow management strategies;
  • quantify retirement needs and adopt a portfolio perspective to realize the desired retirement funds;
  • design and implement pre- and post-retirement investment and risk management plans;
  • create engaging retirement conversations and follow a systematic framework to educate your client about retirement planning;
  • establish yourself as a trusted, credible and competent financial planning professional;
  • effectively handle objections and misconceptions about retirement planning.
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