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

[Smiles20]

The greatest challenge that I am having with pension in this country is how consistent it is but then the money that the pay is okay and it is something that I will be able to live with it.

 

[HayKay]

In my opinion, not at all. The kind of lifestyle I want to live can't be funded by only my pension except I'm putting a sizeable amount of money every month in it.
Having investments by the side would enable me have rest of mind when I'm retired.

 

[Toyoabasi]

I am trying my best to ensure that my pension sustains me after retirement.
I intend increasing the percentage i am saving up very soon.
Most times, the pension paid to government retirees does not sustain them, that is why some of them do businesses after retirement.

I don't think pensions are able to meet most needs. If the salary couldn't, half of it won't either. That is why most workers start building wealth while still working, their pensions only meet immediate wants during retirement.

 

[ganibade]

Pension must be up to million of naira before retire. This can process after 4 months of retirement to collect 25 percentage of all money saved with pension scheme company.

 

[greenie]

Generally, a pension fund is not enough to cater for a pensioner for the rest of his life. However, it depends on the level of job he or she was in before the retirement. If the pensioner from a reputable company as a high level officer, no doubt the pension will suffice. This is according to my country though. Don't know if it is different elsewhere.

 

[mayumi97]

The government pension is definitely not enough to support the needs of a retiree. A few years after retirement, a healthy person can still manage to work or run a business. In time, his faculties will decline. One has to have a source of passive income to ensure that there will be some cash flows other than the pension at a time when a person is no longer able to work or tend to a business.

 

[Sotherefore]

For now I am not really working the government but this will depend on so many things that will determine, if I start now working for the government ,my pension may be so small because I don't have a good qualification to back it up yet.

 

[Ub40]

Pension is supposed to be a benefit retired workers should enjoy after serving their countries for so many years but it is rather unfortunate that some government pay them peanuts or they are being owed. So this is where one's personal savings will come to rescue.

 

[Laurentta]

I don't believe pension is enough after retirement. Most pensioners don't depend on their pension alone after retirement, they often have backup plans like businesses.

 

[Robust]

To be frank on what am seeing happening in my country, I do not think if one retire he or her pension will be enough, because everything now in my country has increase except salaries.

 

[tyrim88]

In my opinion it is not enough because of the bills you will cover and then the salary is reduced not like before and this will make things hard for you.

That is one thing about the issue of pension,because the percentage that will be given to you on a monthly bases,would be very small compared to what you have been enjoying as a full active staff.

 

[Danny4cash]

I don't think so. How much is government pay as pension? In my country, it's only government that pay pension. Private firms don't usually pay. What they do is to create a pension scheme for their employees. If you're interested in the pension scheme, they'll be deducting a percentage of your salary and save it. They'll pay it to you once you retire.

 

[Smiles20]

I do not think that relying on the pension is even going to be something advisable and that is why I am trying to put in effort into investing into sustainable passive income streams

 

[Sincerem]

For now I cannot tell because the amount of money to receive as pension will be determined by so many things , like your academic qualification and where you are working. For now I can't say it because I am not being employed by the government.

 

[Robust]

In my country for now I can not say but it will be difficult for ones pension to be enough for his or her retirement because of lack of payment due to corruption and others.

 

[frederick_9]

In most cases, a pension fund is insufficient to support a retiree for the rest of his life.
However, it depends on the type of position the retiree held before to retirement.
Without a doubt, the pension will be adequate for a high-level officer who retires from a good organization.

 

[tyrim88]

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.

One thing about the issue of a retiree analysing whether his pension would be adequate for him after his retirement is something he would have factored long ago before hand do that he would not be caught napping.