Do you think your pension will be enough for your retirement?

[Richard92]

Yes, I believe that my pension will be enough for me after my retirement because I started my pension scheme very early, I started my pension scheme when I was just five years working in their organisation.

 

[Adetayo100]

It depends on how much you have save up for pension and the kind of institution you worked before retirement, that it is good to apply for a private pension scheme while still working so you can have something to rely on.

 

[Rainlover207]

I don't think my pension will be enough for me. I'm not a frugal person, I like to go on vacation every year and I dream of traveling the world after my retirement. I will definitely set up a business to help generate extra income.

 

[ranaabubakar263]

When you retire, you get retirement money, so you should start a business with that money. It can benefit you in your next life so that you can use it. To live your life with full benefits you need your retirement money consume in a good business.

 

[Eodine]

As humans, our wants and needs are always increasing so I don't think that pension is enough, although someone who is contended at old age may just decide to live off pension for the rest of his or her days but if you think of doing more or having more, pension shouldn't be the only income.

 

[Mika]

I don't work in any organization, therefore, there will be no pension for me. However, I have bought a 20 years life insurance policy. By paying a premium for 20 years, a decent amount will be accumulated in my insurance policy and when the policy matures, I will receive the sum I have deposited along with the bonus amount. Based on my calculation it will be similar to the pension received by a subordinate in a government job in my home country.

 

[Usman Sattar]

Planning for retirement starts with thinking about your retirement goals and how long you have to meet them. Then you need to look at the types of retirement accounts that can help you raise the money to fund your future. As you save that money, you have to invest it to enable it to grow. The surprise last part is taxes: If you’ve received tax deductions over the years for the money you’ve contributed to your retirement accounts, a significant tax bill awaits when you start withdrawing those savings. There are ways to minimize the retirement tax hit while you save for the future—and to continue the process when that day arrives and you actually do retire.

 

[katkat]

When you are working in the government and holding a higher position then your pension can be sufficient. Higher position means higher salary and if you have a longer years of service then pension is higher as well. But if you are just an ordinary employee then you can't have a bigger pension. That is the problem with low income employees. That is why if there's a chance it is good to invest too. That can be an additional income that can add to your pension after retirement.

 

[Jlife]

Well for now i cannot say because I am not working for the government but I think it depends on the position you are in the government work because higher position in the government work attract higher retirement pension and this is what will determine how much you earn.

Post automatically merged: Feb 9, 2021

Well for now i cannot say because I am not working for the government but I think it depends on the position you are in the government work because higher position in the government work attract higher retirement pension and this is what will determine how much you earn.

 

[Yewande]

It is always advisable to set up something that can be a source of income for you and your family before retirement. Most times, the morning gotten from as pension is hardly enough to cater for the needs of the family.

 

[CeeJase]

When properly invest, yes, and if not, no. The economy is changing and things are actually getting costlier. Look at the effect of the pandemic on the economy, now trace it back to the work force on how greatly it affected them not to talk of the pensioners.

 

[zahidhussain]

I am an employee of a government entity, I still have years to retire, but I know that the monthly pension in my country varies from a minimum wage and increases according to the studies carried out. That amount is not enough for a retiree living alone. My plans are to invest so that when the time comes, I can have financial peace of mind.

I am an employee of a government entity, I still have years to retire, but I know that the monthly pension in my country varies from a minimum wage and increases according to the studies carried out. That amount is not enough for a retiree living alone. My plans are to invest so that when the time comes, I can have financial peace of mind.

yes, my father is teacher and last year retire from government job he can get much pension to live his life.government should gave much money to my father for his life so pension his much better for a employees

Post automatically merged: Feb 9, 2021

I am an employee of a government entity, I still have years to retire, but I know that the monthly pension in my country varies from a minimum wage and increases according to the studies carried out. That amount is not enough for a retiree living alone. My plans are to invest so that when the time comes, I can have financial peace of mind.

I am an employee of a government entity, I still have years to retire, but I know that the monthly pension in my country varies from a minimum wage and increases according to the studies carried out. That amount is not enough for a retiree living alone. My plans are to invest so that when the time comes, I can have financial peace of mind.

yes, my father is teacher and last year retire from government job he can get much pension to live his life.government should gave much money to my father for his life so pension his much better for a employees

 

[Sariana23]

yes, my father is teacher and last year retire from government job he can get much pension to live his life.government should gave much money to my father for his life so pension his much better for a employees

Post automatically merged: Feb 9, 2021

yes, my father is teacher and last year retire from government job he can get much pension to live his life.government should gave much money to my father for his life so pension his much better for a employees

From what I read about your father @zahidhussain , he has already retired and receives a lot of money and I know that in several countries it is like that. In my country, the pension money is not enough to live, you must have another additional income or have saved for when the time of retirement arrives, to be able to complete with the pension income and live better.

 

[Akinwale701]

The only pension that I trust here is the government's pension which is only $200 monthly as the maximum. Obviously that cannot be sufficient for a middle class like me even if I am frugal and simple in living. Food is getting expensive every year and in a few years the pension will be worthless.I am fortunate that I have some savings to tide me over when the pension is consumed. How about you, have you prepared for that situation when you cannot work anymore that could you maintain your standard of living?

When it comes to pension fund, as a matter of fact, government plays a very major role in that area. The amount of money they pay as pension is the highest in the terms of business related pension issue. If you're not a government worker, you are not entitled to that.

 

[chommyluv]

The only pension that I trust here is the government's pension which is only $200 monthly as the maximum. Obviously that cannot be sufficient for a middle class like me even if I am frugal and simple in living. Food is getting expensive every year and in a few years the pension will be worthless.I am fortunate that I have some savings to tide me over when the pension is consumed. How about you, have you prepared for that situation when you cannot work anymore that could you maintain your standard of living?

pension will never been enough especially when the pensioners has undergraduate children to cater for; pay school fees, cloth and feed especially in our country where everything is on the high side. We should always prepare for retirement and not to keep our hopes high on our pension. Have a side business and start saving up from there.

 

[manikk786]

Yes of course!
It will be.
Because when i will retire from my govt job,i will got some of money and after this pension will start and it will be enough for my livingness and i can live a happy life to manage my pension money.reduce my expenses will be the key.

 

[adazeez1995]

The future is full of uncertainty. Depending on your pensions alone after retirement might not be a really good idea. Anything can happen, due to economic instability, the value of the currency at the time when you were in active service might not be the same when you retire. Inflation also can also reduce the worth of money over a long time. So, it is best to start investing in some thing else at five to seven years before retirement

 

[tyrim88]

The pension one receive might not be adequately enough no matter how you try to adjust,especially when you are used to a particular life style.But as a suppliment to what you receive as a pension another source of income such as an investment or mutual fund would compliment and meet up ones wage bill.

 

[Emma19]

Pensions are usually small savings left after service and so can not be sufficient for the rest of one's life. Taking vacations, eating what you feel like and having to enjoy what life is meant to be in old age cannot be meet with a pension scheme. Except one makes an additional saving on the side.

 

[Ruthie]

In my country, when you retire, the pension you get is dependent on your organisation and the level at which you retired. The pension on it's own, can never be said to be enough. However, with proper planning particularly during your years of service, you won't face much of a problem.