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

[Tiwa]

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??

In my country as an example.salaries paid to pensioners are usually kind of 30% of their full active salary.Now it will be good only if the full active salary was anything to write home about in the first place let alone now paying 30% of that for pension.So I will say Capital NO, it can't be enough to build such apartment.

 

[Snobar Bilal]

In my country it is impossible for built a house and building with the pension amount.It is the fixed amount which is received by the government according to your grade. With this amount you can fulfill your needs and expenses only .

 

[Ralphjoe]

Laughs, $45 a month can't even feed a retiree for a month talk more of building a house well furnished. My country pay rate made me to come up with this thread. They pay civil servants peanuts as salary, even when they are still in service the pay rate is still on the low then consider now that they are out of service. The salary won't go near building even a self contain apartment.

Pension is not really enough to do anything for a retiree at all, maybe if you are talking about gratuity, then that is enough to build the three bedroom flat that you are talking about and more. Gratuity money is always very big and can be used to accomplish alot for the retiree while pension is just like a monthly pocket money for retiree

 

[Sincerem]

In my country as an example.salaries paid to pensioners are usually kind of 30% of their full active salary.Now it will be good only if the full active salary was anything to write home about in the first place let alone now paying 30% of that for pension.So I will say Capital NO, it can't be enough to build such apartment.

Hmm, what you are saying to me now is that, pensioners can't build house of their own even with their pension salaries without having any one to carter for?? Laughs, if I can't use my pension for building a comfortable house for myself, then what will I be using it for??

 

[Doradorwa]

Pension in Nigeria is paid in two ways.... Firstly a hug sum of amount will be paid to the retiree I'm the first month of the retirement.... This money is always so huge depending on the person position while at work... This money you can use to get a house done in some cases while the remaining month that follows the money paid is just enough for feeding.

 

[Sincerem]

If savings are made form salaries why not, one can build a house from it.

Though some country give their worker allowance or loan to build their own houses, the money is then deducted from their monthly pay for a period of time to repay.

What you said, is what I needed to hear. Civil servants can build a house through collecting of loans and saving up their salaries in some duration of time. So if they can follow up this guidelines they can build a well furnished house during their active working career.

 

[Tiwa]

Hmm, what you are saying to me now is that, pensioners can't build house of their own even with their pension salaries without having any one to carter for?? Laughs, if I can't use my pension for building a comfortable house for myself, then what will I be using it for??

Without anyone to cater for ,maybe yes.But the % of pensioners that spend their money for themselves is really low.Given the fact rate of unemployment ,young people tend to depend on their parents a little longer than required.

 

[Sincerem]

Without anyone to cater for ,maybe yes.But the % of pensioners that spend their money for themselves is really low.Given the fact rate of unemployment ,young people tend to depend on their parents a little longer than required.

Lol, so what you mean is that a pensioner will still carter for children at that age of over 60-65. I can't just allow my aging dad to still take care of me with his low salary, that can't even do him for food and medication.

 

[Alexandoy]

Maybe what you mean by pension is the retirement pay which is received by a retired employee. The only pension we have here is the monthly stipend from the government for the retiree. But big companies usually have a retirement pay that is substantial to build an apartment or a nice home as you mentioned. That is one benefit that employees are hoping for so they stay for long in one company. To cite, my wife will retire in 2 years and that makes 35 years of her service in their bank.

 

[Donkiz]

The amount someone receive as pension depends on the grade and the last salary scale of the pensioner before retirement. Truth is that most government workers pension amount is next to nothing and can barely carry them through the month, what most of them look forward to receiving after retirement is gratuity, which is the first money they are paid before they start receiving pension. This gratuity is a lump sum of money, and the amount depends on your last grade, and I have seen someone build a two-storey with it, as for the monthly pension, no it can't be enough to build a house.

 

[Tiwa]

Lol, so what you mean is that a pensioner will still carter for children at that age of over 60-65. I can't just allow my aging dad to still take care of me with his low salary, that can't even do him for food and medication.

It's not always about what you allow consciously. Well,you know what they say about different Stokes.Then again, a system that works above average and all other things been equal....take care

 

[Hasan Raza]

Pension money depends upon your job nature and scale and the thing is that how much you receive from government. The other thing is that if you have your own plot in your ownership then you can easily build house in Pension money.

 

[Sincerem]

Maybe what you mean by pension is the retirement pay which is received by a retired employee. The only pension we have here is the monthly stipend from the government for the retiree. But big companies usually have a retirement pay that is substantial to build an apartment or a nice home as you mentioned. That is one benefit that employees are hoping for so they stay for long in one company. To cite, my wife will retire in 2 years and that makes 35 years of her service in their bank.

No, I don't mean the retirement pay the company pays, or the gratuity government pays to its civil servants. I mean that their monthly income salary they receive. Not their sent forth reward package.

 

[ENVOH JNR]

Making a conclusion to this question will be very wrong , it actually depends on the family size, budgeting and then your monthly plan as a pensioner.
If your pension is huge enough and then you plan well you can build a house , also if it is huge and you don't plan well you can't build a house.
So let me say it actually depends on your planning.

 

[Peterlight]

It should be able to but it sures depends on the individual decision cos most people lack vision.

Has for me I would have built my house before I recieve my pension and I would only use the pension to visit places and invest in more businesses to gain more income.

 

[Heatman]

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??

The kind of company or government work which you used to do is what would likely determine if your pension money can actually be enough for you to build your own house.

My father worked a federal job in ministry of Agriculture in Nigeria but his pension wasn't enough for him to build his dream house.

 

[Sincerem]

The kind of company or government work which you used to do is what would likely determine if your pension money can actually be enough for you to build your own house.

My father worked a federal job in ministry of Agriculture in Nigeria but his pension wasn't enough for him to build his dream house.

In other country that is a very big job to work in. Imagine where he worked from, in the guise of federal ministry of agriculture. And he couldn't make out much money to build his own dream house, cos of how poor the Nigerian government pays its civil workers.

 

[Maheen]

I don't think so that from pension salary any person can build a house or apartment....pension salary are just enough for monthly groceries and bills with medical ...how can a retire person save enough money to build his house..Govt should ake any housing scheme with easy payment installments so a person can build his house while doing job

 

[chicnthin]

Not possible in my father's case! He is about to retire so my mother inquires how much he is getting every month and they said it's only around $150. It's not enough to buy necessities, foods, and pay our bills. How much more, to build a house with that amount?

 

[Sincerem]

I don't think so that from pension salary any person can build a house or apartment....pension salary are just enough for monthly groceries and bills with medical ...how can a retire person save enough money to build his house..Govt should ake any housing scheme with easy payment installments so a person can build his house while doing job

That's true, I don't see how civil servants under the pension scheme will build a furnished house of his or her own with the minimal salaries the government pays them. Even during their service they wouldn't even build a house of their own. Unless the government will give them loans to pay via installment, during a certain number of years.