At what age should you begin a pension fund?

[Kehinde]

most people are advised to wait until they fully retire or reach the age of 60 before taking their benefits, on the basis that their pension should be used to provide an income in retirement.

 

[Goodday]

I would say there is no age set special for you to start your pension fund, you should start your pension fund when you have a decent source of income. Even if you are twenty years old and you make decent amount of money daily or weekly, then you can start saving some as your pension plan.

 

[Chibson]

Since it is a saving for my retirement, i will definitely start a very young age. It is very important to see you when you are young so that when you are owed the money you have made during your working days will sustain you through the rest of your life.

 

[Tariq Shehzad]

It isn't about the specific year, it's the point at which you begin getting steady pay. On the off chance that you are not procuring its absolutely impossible u can save. On the off chance that you begin procuring early its best u beginning saving like 10 or 12% of your pay for retirement reason however on the off chance that you didn't acquire early then it will be best u offer more than that rate.

 

[Bethel Victor]

Pension fund are funds you recieve after retirement, company use pension fund to reward old staffs, pension fund is mostly paid to the advanced in age of about 60 to 80 years of age, then after that the retirement fund follows.

 

[Adeyoola7]

Each pension has its own formula that determines how much you may get at what age. If you have multiple pensions, it may be best to start one at age 60 and one at 65. Taxes should also be considered in your final analysis.

 

[Waqas wajid]

Marriage More than half the time we spend in the job and retire after the age of sixty then we get the tire fund sixty years we benefit from it and the pension after sixty years In case we get a lot of money from which we can do any business so we spend more than half of our life in reply then we get pension and from that day we do business

 

[kingbluewave]

When I was 18 years old, I was stuck with this idea that I would retire by 30. I think we all in some way, shape, or form, share a desire to be retired earlier than the average 70 year old person. At the end of the day, what is the point of retiring at an age where you can function in your optimum stage? None, if you ask me which is why I was always fascinated by that idea early on. By 18, I was determined to find way regardless that it was through owning a business, investing, or even having a career.

 

[Dowenship]

This private/personal pension that you are speaking about setting up that is the same as having a savings account that you deposit into monthly in order to be able to have these funds for later on when you retire right? This would be a good idea because then you have two sources from which you can try and gain income over the course of this time.

No age limit! Train because pension money is very important this life, if you the opportunity to have a pension right from the child hood! Its an advantage.
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[Yunglegend]

Every Pension is Different
If you have multiple pensions, it may be best to start one at age 60 and one at 65. Taxes should also be considered in your final analysis.

 

[BrolySSJ]

Every Pension is Different
If you have multiple pensions, it may be best to start one at age 60 and one at 65. Taxes should also be considered in your final analysis.

Taxes are a large portion to the pension fund that you take out, because in some countries you pay a substantial amount in taxes and that reduces the amount that you are able to benefit or watch your pension fund grow and this can be quite off putting in that regard. Therefore I think that many in those cases prefer the savings funds.

 

[zahidhussain]

Since pension fund is a savings for retirement, it's best to start early after you have a stable source of income so you might even retire early and start reaping what you have sown over the years of hard work

Pension is a fund which you can get after you end of service in any government institute.So you can get it at 3arly age of life and started a buisness with your pension fund.You also make a plan when you are in job and after pension you can work on your plan and use pension fund

 

[Princeeffiong]

The age you start saving for your pension depends on the age you started your first job. Once you start earning a salary you should start remitting 7.5% of your salary to your pension fund manager. The problem one may encounter may be that your employee may not remit his own part of your pension payment and may still even embezzle the one you have paid to him.

 

[BrolySSJ]

Pension is a fund which you can get after you end of service in any government institute.So you can get it at 3arly age of life and started a buisness with your pension fund.You also make a plan when you are in job and after pension you can work on your plan and use pension fund

It is very important to have plans they can manage your pension fund as well as how to use the pension fund because they are many people that burn through their pension a lot faster than they capable of planning for and as a result it can cause financial issues at a later point in your life.

 

[Victor72]

I feel it is better for one to begin his pension fund at the age of 50, this is because at this age your expenses is low and your kids are grown up

 

[BrolySSJ]

I feel it is better for one to begin his pension fund at the age of 50, this is because at this age your expenses is low and your kids are grown up

It is not necessarily the case that your expenses will be low when you are above the age of 50 because some people still need assisted living facilities.

 

[Setho]

A lot of people start working at various times I'm their lives. So with that reason there is no particular time to which you should begin preparing for retirement. It is advice able though that you save and start early on or almost immediately when you start to earn money.

 

[Senator]

You should start as early as possible if you have reached the legal age that such schemes permits. The earlier you started the better for you

 

[Sprite1950]

I started a works pension when I was 18 mainly because my employer pressed me at the time to take one out. At that age retirement seems a million miles away, but now at the age of 70 I'm glad I did because it is never too soon to start saving for retirement. It creeps up on you sooner than you think.

 

[Victor001]

It's choice, depending on when you intend to retire, from 45years is okay because that age, you might have been able to settle urgent primary matters and decided what you want.