Tax Deductible Retirement Products

What exactly is the tax-deductible retirement products? What are the choices in the market? MoneySmart has put together a summary for you to quickly understand the advantages, and points to note about tax-deductible retirement products.

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Deferred Annuity Guide

When it comes to an “annuity”, you probably think it is irrelevant to you especially for young adults. However, financial planning is actually a life-long activity for people of all ages. The “Qualified Deferred Annuity Policy” (QDAP) launched by the government could be an example of that. It is not only suitable for people approaching old age as it ensures stable long-term income in retirement, but is also beneficial for young adults as a tool for long-term financial planning and tax deductions. The following are the most common misunderstandings about QDAP, and let’s clarify them one by one: