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

[Oloritoks]

Well it depend on the amount of money being paid because you can not use a meagre amount to build house if it must be done then you will definitely have a business that fetches you adequate income.

 

[Rashid]

It depends on some countries what ther government gives in Pension. If their pension is good then they can build house easily.
But in my country it depends on post of the retired person of he is low level employee of government then he might not be able to build a house by pension if he is top grade officer he can make easily.

 

[Briangsam]

It is basically impossible especially if you are from a certain part of the world where I am from. Even in their years of active service, they get paid meagrely. So how will they build a house with their pension? I pity retirees most times.

 

[Usman Sattar]

Ah, the important question. One rule of thumb is that you'll need 70% of your annual salary before retirement to live comfortably. If you pay off your mortgage and are in good health when you say goodbye to the office, that may be enough. But if you plan to build your dream home, get a Trott, or PhD, all over the world. In philosophy you always wanted, you need 100% or more of your annual income.

 

[Sincerem]

Here in my country which is Pakistan, when a govt employee gets retired, he receives a huge amount of money as retirement and after that he gets pension every month. So this is more than enough.

More than just enough dear, I think the first one they paid such civil worker is called gratuity. Then pension follows just as you said. Your country's system is very awesome, here in my country it takes years to get your gratuity paid into your bank account.

 

[Taimoor Jutt]

May be may be Not. In my country pension is the money which is deduct every month a certain %age, like 8% to 10% deduction every month and at the time of retirement they gave this collective money. If a person is at higher rank and having higher salaray he will get enough money to build one or two houses. But if he is at small rank he will get not too much by this.

 

[GIFTMICHAEL]

In developed countries which has a working system, pensioneers are paid handsomely so they can afford to build a house from their pension but in developing and undeveloped countries it is not so because pensioneers are paid little or nothing

Pensioners in this side of the divide are hopelessly suffering in the hands of the government. Retirement is supposed to be a time for relaxation and honor for serving our country but it is not like that here.

 

[Asad Ali]

There are many pensioners who like to take pension together and they take pension together. We have two ways to get pension in Pakistan,Either you get the whole pension together or you get the monthly pension. If you get together, you will build a house and start a business

 

[Thosynho]

Well it depends on what kind of house you want to build, and it still depends on your country, but it mostly depends on where you worked and how much they paid you before retirement, because if your salary is high then your pension money will also be high.

Great post here. I love the way you reason here. To build like a standard three bedrooms flat from the scratch with pension salary will take quite a number of years to complete the the building. This is because pension salary is small compared with the actual salary one receive in active service.

 

[Aumeabbas]

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??

Well its depend upon your rank which was given to you as an employee. Because pension is given according to grades. While if you are talking to built house with pension.how it could be possible. Because the pension amount is not enough for retiree's personal expences.

 

[Asad Ali]

May be may be Not. In my country pension is the money which is deduct every month a certain %age, like 8% to 10% deduction every month and at the time of retirement they gave this collective money. If a person is at higher rank and having higher salaray he will get enough money to build one or two houses. But if he is at small rank he will get not too much by this.

Many people collect their entire pension when they retire so that they can start a business and build a house.I have seen many people in my village who have built their own houses and run their own businesses ۔ However, if you take a monthly pension, then it is impossible for you to build a house because you do not get much money in the pension monthly option. This money only covers the house expenses.

 

[ronaldlorenzo01]

I think before you go on that you must have a goal to reach before you age. So that everything in your retirement you can enjoy. You will not think of any expenses you are just relaxing having a drink or coffee watching the beach. That is the ideal thing to do.

 

[lelakil3]

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??

countries that they're economic status stable or increasing as it they can release the pension to the pensioner's. It can be if they're no lacking account to be settled by the pensioner's or debit to be paid off.

 

[CeeJase]

Is it the same pension I know of or is there another that actually pays better? If it's the same then it's never possible. How much is land it self and how much do you think pensioners are earning? The margins is quite large.

 

[Vladv26]

Well, i think that really depends on the sector where your job was because pensions come in different sums. For most people a pension salary wouldn't be enough to build a house, but it also depends what kind of house you want to build. But you probably also need to take an extra job plus the pension you could possibly have enough money

 

[Taimoor Jutt]

Many people collect their entire pension when they retire so that they can start a business and build a house.I have seen many people in my village who have built their own houses and run their own businesses ۔ However, if you take a monthly pension, then it is impossible for you to build a house because you do not get much money in the pension monthly option. This money only covers the house expenses.

Yes true, I'm also talking about the money of gratuity , not the monthly pension. Pension is half of your basic pay or salary then you can only meet your domestic expenses because of shortness of that. Some people start building house at the time of retirement, because they have only chance to get nice house so they utilize their money there.

 

[Denuola]

I think it depends on the country and the amount being paid to the retiree.
In my country Nigeria you can achieve that if and if only you've been saving up for such project...I don't think you can do such project with just a month pension.

 

[Sincerem]

Well its depend upon your rank which was given to you as an employee. Because pension is given according to grades. While if you are talking to built house with pension.how it could be possible. Because the pension amount is not enough for retiree's personal expences.

Okay, i agree with you, pension salaries can be enough to lay down a house for retirees cause the amount been paid out to them isn't enough for that. Rather it can be used for medication, food and upkeep of the retiree.

 

[Jimmie150]

The answer is a Yes at the same time a No because salaries are not fixed. The fact that I can build a house after retirement does not mean everyone can do that, we were not earning the same thing while in service.

 

[Chibson]

It depends on the kind of country you are. Some country's pension funds are higher than the other.
Even at that it's not advisable to depend on pension fund in order to build a house.
So therefore, it is good to plan oneself when you are working so that things won't be difficult for you in your retirement age.