Can pension salary be enough to build a house for a retiree??

[Sincerem]

Most times pension cannot be enough to build house for the retiree because it sometimes lesser than they are salary but gratuity can be enough to build the house because it is been paid once and it's much.

Yes, gratuity can be enough to build a house for a retiree who retired with a very high rank. Cos it is paid once and the money is large, it can be enough if well managed.

 

[Kelly5]

It is also possible that while the pensions for some might not be enough to enable them build their house, the gratuity of some in this carttigory can enable them build their house as well

 

[Sincerem]

It is also possible that while the pensions for some might not be enough to enable them build their house, the gratuity of some in this carttigory can enable them build their house as well

If the gratuity is above $10,000 it will help build them a well furnished 3 bed room flat with modern structure, and facilities planted around it.

 

[tyrim88]

I don't think the pensiona a retireee gets will be enough to build him a house,because the money is way too small to do something as meaningful as a housing project.It is usually a fraction of what he earns as a basic salary,and is just meant for upkeeps and for other sundry expenses.

 

[Razor1911]

Their are countries that pays their retirees considerable amount of salary as a reward for the years dedicated during their active service career. While some countries pay their retirees less salary after bowing out of service.

Do you think that the salaries they pay this pensioners will be enough for them to build a 3 bed room flat apartment well furnished??

I will also get pension when I will retire. But its a long way to go. I am just 29 now, and retirement age is 42. So I will do my job 12 years more to reach that pension. But I feel the pension that I will get is more than sufficient for a family of 4 people to live lavishly.

 

[Sincerem]

I will also get pension when I will retire. But its a long way to go. I am just 29 now, and retirement age is 42. So I will do my job 12 years more to reach that pension. But I feel the pension that I will get is more than sufficient for a family of 4 people to live lavishly.

Lol. How can retirement age be set at 42, is it the mark your country set for its civil service workers?? I think average retirement age should be 60.

 

[Razor1911]

Lol. How can retirement age be set at 42, is it the mark your country set for its civil service workers?? I think average retirement age should be 60.

No. I am talking about voluntary retirement from the job. Which can be taken after 20 years of service. I can leave the job before also, but If I quit before 20, I won't get the pension benefits. Normal age of retirement is 57 here.

 

[Sincerem]

No. I am talking about voluntary retirement from the job. Which can be taken after 20 years of service. I can leave the job before also, but If I quit before 20, I won't get the pension benefits. Normal age of retirement is 57 here.

Okay i got your points of early retirement which you deem voluntarily. But still the average time of retirement in your country is still low compare to others average retirement age.

 

[Shigobad2020]

No. I am talking about voluntary retirement from the job. Which can be taken after 20 years of service. I can leave the job before also, but If I quit before 20, I won't get the pension benefits. Normal age of retirement is 57 here.

I think the normal age of retirement here is 69years but you need to work for twenty five years before you can attain the post of getting a retirement benefit from the government.

 

[Sincerem]

I think the normal age of retirement here is 69years but you need to work for twenty five years before you can attain the post of getting a retirement benefit from the government.

Hmm, some people do retire at the age of 60 as the case maybe. While in some government working department you can retire at an average age of 70 years.

 

[Richard92]

I have been staying with my landlord who's also a retired civil servant and he's earning around #25,000 monthly , he told me his actual salary amount is around #80,000 before he retired , so that 25,000 is just for feeding and upkeep.

Pension plus gratuity can be enough to build a house for a retiree, this is when the retiree used his pension and gratuity wisely.

 

[tyrim88]

In my country with the monthly payment of a pensioner, there is no way to build a house, I think not even the walls. Perhaps with the social benefits you can start the construction of a house and with the monthly pension you can complete said construction. Pensioners are not well paid.

I think most pension given to retirees is just for sustainance of the beneficiaries.It is not something you can rely on to start carrying out an intensive capital projects.The essence is for some sundry,personal and for some utilities and consumables.

 

[Setfragil]

This is a very difficult question to find an answer to. It depends on your monthly pension or gratuities that you receives and the type of house that you want to build and the location of the house will determine if the pension will be enough to achieve it.

 

[babdud02]

I think it should be able to but it will depend on the type of job you’ve got before retirement.If you’re from a good country, you might get pension that can be enough for that but you might not even get your pension in some bad countries

 

[Sincerem]

The pension would've been enough if the pensioner entered into insurance earlier in, to have second pension scheme. After successful retirement he or she can raise enough money to build.

 

[Sariana23]

I think most pension given to retirees is just for sustainance of the beneficiaries.It is not something you can rely on to start carrying out an intensive capital projects.The essence is for some sundry,personal and for some utilities and consumables.

That is correct @tyrim88 , although I have read that in some countries the pension is substantial, in the vast majority of countries it is only enough to cover basic needs, including food, medicine and some other necessities.

 

[tyrim88]

That is correct @tyrim88 , although I have read that in some countries the pension is substantial, in the vast majority of countries it is only enough to cover basic needs, including food, medicine and some other necessities.

A friends dad who is a pensioner had a similar experience,the pension of his dad is way too small,that it could bearly afford him some basic things that he needs,and this has been given them a source of concern.

 

[Ub40]

In a normal circumstance, pension should have been the money pensioners supposed to fall back on after retirement if not for some corrupt leaders that would not pay this money, thereby living some of these people begging on the street.

 

[Sariana23]

A friends dad who is a pensioner had a similar experience,the pension of his dad is way too small,that it could bearly afford him some basic things that he needs,and this has been given them a source of concern.

Yes, I know many people who reach retirement age and continue to work. This is because they lose many benefits and only receive a pension, which does not cover their needs.

 

[Richard92]

Well this depends on the salary of the pensioner while he was still working. Most pension schemes are contributory in nature, that is the employee and the government contribute to it. So if an employee is on a high salary then definitely his pension should build a reasonable house.

This all depends on how much you are collecting as a pensioner if your pension is much you can be able to build a house after retirement with your pension money.

Post automatically merged: Jul 8, 2021

Well this depends on the salary of the pensioner while he was still working. Most pension schemes are contributory in nature, that is the employee and the government contribute to it. So if an employee is on a high salary then definitely his pension should build a reasonable house.

Pension salary plus gratuity will be enough to build a house for a retiree however because you should receive gratuity in bunk this can be able to assist him in getting a house.