Importance and urgency of retirement planning
• India demographics
• Key take-aways from Society of Actuaries retirement survey
• Pension Inadequacy in India and implications
• Why maximum SIPs will come thru pension accumulation
Pension Accumulation Need
• Identifying pension accumulation needs using additional questions
• Helping clients realize their pension need
Arriving at Adequacy of Retirement Corpus
• Various retirement corpus and need to save calculation strategies - Real Rate, Fixed Rate, Fixed Tenure, Maturity Value of Growing Annuities etc.
• Bucket concept of financial planning and why it’s vital in retirement planning
Calculating the GAP in Corpus Accumulation
• Identifying future values of client's current provisions like MFs, EPF, PPF, Gratuity, PO savings, NPS etc.
• Calculating the GAP they will have with respect to their retirement corpus requirement.
Adequacy of Recommendation, Asset Allocation and Cash Flow Planning
• Calculating amount of SIP to ensure adequacy of corpus
• Implementing the plan
• Asset allocation strategies in retirement planning
• Developing post-retirement fixed and growing annuities cash flow plan
• Cost of deferment - a closing technique that seldom fails
• Approaching clients and building credibility as retirement solution’s expert.
• Preparing a personalized and formal “Retirement Solution” sheet using SAFE “Presentation Tool”
Retirement Solutions – a Perpetual Up-sell Opportunity
• Why retirement corpus is an ever-growing need and people will need a regular up-sell
• Retirement Plan Reviews – an opportunity to consolidate sale, up-sell and cross-sell.
• Why, how and process tools for Client Reviews
• Taking client feedback
• Gathering referrals and converting some into recommendations