Teacher Retirement Plan

Welcome back after the Spring break.

As always happens at the start of the new financial year, we have some new investment opportunities for your consideration.

We have two options for your consideration:

Quantum Plus 11

Quantum 1 year fixed deposit – 3% pa on USD and GBP. 10% pa on Aussie Dollar

5 year 6 months – Capital guarantee plus 50% of the positive market performance

Click here to download the brochure or email info@scigroup.org to apply

3 year deposit – 12.95% per annum when held to maturity

Please email info@scigroup.org to apply

The SCI Group were proud sponsors of the recent FOBISSEA Invitational golf Tournament held at Laguna Phuket. The hugely successful event was hosted by the British International School with 9 schools and a total of 85 student golfers taking part.

The SCI Group would like to congratulate all participants and organisers for all their efforts.

Did you know that the UK is the worst country in the world at saving for retirement? With the average Briton spending 19 years in retirement they have savings that will run out after just seven years.

These were the findings from a recent research in a study of 15,000 people from 15 different countries by HSBC and revealed in their report, ‘The Future of Retirement – A new reality’.

Perhaps more concerning was that nearly half of all respondents (48%) had never saved for retirement at all. It seems that many of those in their 30’s and 40’s are acknowledging that working beyond their retirement age will be part of their retirement plans.

Another study recently showed that by delaying saving for retirement from the age of 30 to the age of 40 the private pension income of those expecting to retire in 2055 could drop by as much as 32%. Furthermore, with the majority of people in developed countries expected to live into their 80’s and beyond, they will need additional long term care from the state, families or other private means.

Are you making adequate provision for your retirement or will you need to continue working to support an active and fulfilling retirement?

Of course there may be many hindrances when trying to save, such as the lack of a regular savings habit or the financial impact of unexpected life events.

Unfortunately, the consequences of saving too little or too late for retirement are often only felt when it is far too late and people find they are retiring without the necessary income to support their planned retirement lifestyle.

What does retirement hold in store for you? …. And will you be able to afford it?

For further advice regarding retirement planning please contact the SCI team at info@scigroup.org

This is the first in a series of articles on personal protection.

A Wake Up Call

Well over 1,000,000 people have died of cancer so far in 2013¹ – that’s equivalent to nearly 1,000 deaths per hour.

According to WHO estimates, 17.3 million people around the globe died of cardiovascular diseases in 2012². That’s a rate of 33 deaths every single minute. By 2030 WHO estimates that figure will rise to 23.6 million deaths per year, which is a death every 1.3 seconds!

There have been an estimated 166,200 global road deaths so far this year³. That’s 3,500 per day or nearly 150 per hour. On average, males are nearly three times more likely to be killed than females. Seven out of ten road deaths occur to those aged between 15 and 59 years old, the most active group in society and the group with the greatest numbers of dependents.

1. http://www.worldometers.info/cancer/
2. http://www.who.int/cardiovascular_diseases/en/
3. http://www.roadpeace.org/why/global_road_deaths/

So what has this got to do with me I hear you say?

It’s never going to happen to me, is it?

Next – The need for protection.

The London Search Fair proved to be the biggest and hottest yet despite the freezing temperatures!

The SCI Group would like to thank Gez Hayden at Search Associates London Fair for his continued support.

This was the biggest teacher recruitment fair to be held in London so congratulations Gez.

The SCI Group had a great response both from Schools looking to improve their employee benefits and teachers looking to get their teacher retirement plans in order.

Congratulations to all those teachers that were appointed at the Search Fair London.  We look forward to seeing you on the international school circuit in the coming year.

From all at the SCI Group.

Melbourne Search Fair Update

With a record number of schools recruiting and a record number of candidates attending  the Melbourne Search Fair was an all round success.

We would like to wish all those candidates that were placed in schools throughout Asia all the best for the year ahead.

Don’t forget to contact the SCI Group for any of your financial requirements prior to taking up your placement.

Quote of the day from one of the candidates:

“Thanks a mill $$$ for your advice and support over those crazy days. I’m so glad that I attended the presentation as it gave me an insight into your services and things for me to consider moving forward.
Thanks so much, you’re a gem.”

Next stop for the SCI Group will be Hong Kong on January 18th -20th

Today’s headlines:

➢    The UK government has said pension reform is needed due to the cost of funding retired workers who are living longer. EIS leaders said it was inconceivable staff should be in the classroom when they are approaching 70.

➢    The battle over Canadian teacher pay and perks that has dominated headlines recently is just the tip of the iceberg. The real landmines waiting to explode are public sector pensions.

➢    UK teachers and heads went out on strike over changes to their pensions twice last year. They complained the reforms would leave them working longer, paying more and getting less when they retire.

➢    As one million teachers in the U.S. expect to retire this year, many states are caught in a bind over pensions. A vast majority of states’ teacher retirement funds are underfunded.

➢    UK teachers who have just retired could typically end up almost £8,000 worse off over the next 10 years because of changes that took effect this year, according to a new study.

The SCI Group has been helping teachers avoid the pension headlines above for the last 15 years and maintains an excellent reputation within the industry. More importantly, with over 2,000 teacher clients around the world, you can be confident we have a solution for you.

We have a team of highly qualified and experienced advisers that understand the unique financial planning needs of international teachers. Providing regulated advice through our offices in Hong Kong, Dubai and Malaysia and with offices in Bangkok and Shanghai, we are better placed than ever to meet your retirement planning needs.

For further information and advice please talk to one of our team at the following Search Fairs:

• Johannesburg – Dec 7th-9th
• Melbourne – Jan 4th-6th
• Hong Kong – Jan 18th-20th
• London – Jan 24th-28th

This is the last of a three part article on savings strategies.

Savings – Seeing the Big Picture

If you could save 20 percent of your salary each month, imagine what that would mean in real financial terms. For example, if you earn 2000 dollars per month and you saved 20 percent or 400 dollars out of every pay cheque, after 12 months you will have saved 4800 dollars! Regularly saving this amount of money would give you the financial freedom to take advantage of more of life’s opportunities. You could plan the special holiday you have always wanted to go on, buy the car that you have been dreaming about for years, or help put a child through college. When it comes to life’s challenges, having a lump sum put away could help you pay for private medical care or deal with an expensive plumbing problem in the home, all without having to turn to the bank for a loan and getting into debt.

How Can it Be Done?

As we have already seen, knowing exactly where your money is going is the starting point. Next, start thinking about the big things you could achieve with some money behind you. Some people compensate themselves for not having what they really want, by making many frequent small purchases and getting a temporary “feel good” sensation afterwards. Rather than satisfying yourself with small purchases, such as new clothes and CDs every week or always buying the latest mobile phone, think about how much more satisfying it would be to save up and buy or do something special, which you previously thought was out of your reach, but is achievable with a little effort.

For further advice regarding savings strategies please contact one of our experienced advisers at SCI Group.

This is the second of a three part article on savings strategies.

Where to start?

While you reside overseas you’re eligible to participate in offshore savings plans, do so. There are plenty of reasons to love these plans but No. 1 by far is that the returns and profits you receive are gross rolled up. i.e. no liability to income or capital gains tax on the growth.

Saving money is not easy and is made more difficult if you have a short-term outlook regarding your personal finances. If, like many people, you are living from one pay cheque to the next, it is difficult to put some money aside for a rainy day or for a summer holiday. But what if you were to change your financial outlook into a medium to long-term one? You might believe that you cannot afford to think ahead and make plans, but in most cases you would be wrong.

Most people should be able to save some money and with some effort, maybe even as much as 20 percent of their salary each month.

Income Analysis 



First of all it is important to have a handle on where your income is going. Unless, we are on an extremely tight budget or are very money conscious for other reasons, many of us have never really sat down and considered what our money is being spent on? We just know that by the end of the month, it has all gone! You will know if you are consistently spending your money on unnecessary purchases, for example. Having this knowledge equips you with the control to change things a little or a lot.

Saving Money Mentality

Many people have never been taught to save and as children, immediately spent the money they received without any forethought. You often hear people say, “Life is short, if you want something buy it now”, but thankfully for most of us life is not really so short and along the way we will have to deal with both opportunities and challenges. Having some money saved will help you make the most of the opportunities and ride the challenges.

Next – Savings – Seeing the Big Picture

This is the first of a three part article on savings strategies.

It’s easy to understand why retirement doesn’t loom large on the horizon for 20-somethings. Young workers are more concerned with kick-starting careers, not ending them in the long-distant future.

1. Kick off retirement savings
2. Start saving ASAP
3. Get educated
4. Be aggressive
5. Build an emergency stash
6. Avoid debt

But it’s worth noting that the very fact that you’re young gives you a huge edge if you want to be rich in retirement. That’s because when you’re in your 20s, you can invest relatively little for a short period and wind up with far more money than someone older who saves much more over a longer period.

Consider this scenario: If you begin saving for retirement at 25, putting away just $2,000 a year for just 40 years, you’ll have around $560,000, assuming earnings grow at 8 percent annually. Now, let’s say you wait until you’re 35 to start saving. You put away the same $2,000 a year, but for three decades instead, and earnings grow at 8 percent a year. When you’re 65 you’ll wind up with around $245,000 — less than half the money.

Seems like a no-brainer, right? Save a little now and reap big rewards later.

Unfortunately, many of today’s youngest teachers pass on the opportunity to save for retirement early, when the beauty of compounding interest can work its magic and maximize savings.

Start saving as soon as possible.

There are plenty of reasons you may have yet to save, such as cash flow. If you’re struggling to pay off student loans or cover rent, funding a retirement plan may seem difficult, if not downright impossible.

But be wary of letting expenses become an excuse. These years of saving in your early 20s are your prime years. If you deny yourself the opportunity, it will just set you back with retirement planning in the long run. You’ve got to have balance.

Make the most out of those few dollars you can get hold of by allocating them wisely. Don’t squirrel them away under the mattress. You will want them to be invested in a way that will encourage your assets to grow as quickly as possible.

Next – Where to start?