Retirement or pension planning becomes an integral part of investment portfolio for ones who are in service. One should start planning for retirement funds as early as possible. Increase in average lifespan, financial commitments, competition, nuclear families etc make it even more important to plan carefully so that one can become totally independent in the later years. Even planning for retirement is a comprehensive process to determine how much money one may need after retirement.
Some people feel that retirement planning is important after the mid years when a person crosses a certain age, say 40 years. In fact, pension planning at later stages becomes difficult as there won't be much time to build and grow a good corpus to sustain a good retired life and eventually such people end up investing in risky investment instruments.
