How to use pension?

[Hammad1245]

Pension is the meney paid to employees after retirement. Some people use this for their daily needs. Others use it to invest in a business. Business brings profit to them. But they may suffer a lose.
Of the two options which is best for the use pension money?

 

[Kayzzy3]

Pension is the meney paid to employees after retirement. Some people use this for their daily needs. Others use it to invest in a business. Business brings profit to them. But they may suffer a lose.
Of the two options which is best for the use pension money?

Well you can use your pension for different purposes but most importantly, you should use it for something profitable my business or investment to create value with whatever money you receive as pension and keep you afloat for a longer time.

I will advice that you invest your pension in business instead of using all of it for personal needs.

 

[Sariana23]

The pension is not a great salary, but it is valid to take the social benefits that is a little more and invest. It is true that there is a possibility of losing the investment, when it is not done correctly, that is why I suggest you invest in a home and rent it, to have the benefit of the monthly payment or in a food business which is very profitable.

 

[Sarfraz Ali123]

when people come to retire they will experience a reduction in income - a pension makes up for some of this loss of income in retirement;
pension schemes can provide protection in the form of lump sums and pensions to dependants in the event of a member's death;

 

[Hasan Raza]

Its very important to take wise decision about money you have. Pension money depends upon the scale of the employee. But the best thing to do with it is either to invest in reputable company or to start your own business about you have some experience.

 

[Alexandoy]

I know of some pensioners who engage in a small business of buying food stuff in the morning and selling it in their community. They say it is not really a business but just to have something to work on. But in fairness to them, they earn good money in their small business. For me, I prefer to just do the chores at home and enjoy my life although I am also working online to be occupied at times. I seldom watch tv so I work on the garden most of the time.

 

[Quert]

I suggest you have a pension plan , it is a retirement plan that allows an employer to make contributions for the future benefit of a worker to a pool of funds set aside. The pool of funds is spent on behalf of the employee, and the gains on the assets produce profits upon retirement for the employee.

 

[btaliat]

Pension can be used for various purposes. But it will be better if it can be used for ventures that can fetch money. However, here must be extra carefulness, so that the money will not be lost in the process

 

[Bilal0087]

Pension is the meney paid to employees after retirement. Some people use this for their daily needs. Others use it to invest in a business. Business brings profit to them. But they may suffer a lose.
Of the two options which is best for the use pension money?

Every person have its own demands and desires to be fulfilled.
I think a person should invest his pension into a small scale business because his efforts will continue to his next generation and they could get benefits from your efforts too.

 

[Kehinde]

Leave your whole pot untouched. You don't have to start taking money from your pension pot when you reach your 'selected retirement age'.
Guaranteed income (annuity) .
Adjustable income.
Take cash in chunks.
Take your whole pot in one go.
Mix your options.

 

[Kaindio Agnes Wanja]

Pension is the meney paid to employees after retirement. Some people use this for their daily needs. Others use it to invest in a business. Business brings profit to them. But they may suffer a lose.
Of the two options which is best for the use pension money?

Well,pension may be used for so many purposes but it is good to invest it in business knowing that at the end it will bring something valuable.
In investing pension in business,you should do it being optimistic that you gonna fo well in that particular investment

 

[Olahab]

The common use of the term pension is to describe the payments a person receives upon retirement, usually under pre-determined legal or contractual terms. A recipient of a retirement pension is known as a pensioner or retiree.

 

[Hamza]

One can start a business with their pension money it's a good way to use the money as you can get profit from it later. Or you can buy a property so like that you will have extra property and your money will be invested as well. But if someone want to use their pension money to invest in something which can keep them busy then they should think about starting business.

 

[Asad Ali]

If your pension is high enough then you can invest it and start a business.But I think the amount of pension is very low which makes it difficult to cover the household expenses.You can only do business or investment if you are a high ranking officer and your pension amount is very high.

 

[Bookwormlux]

Pension is the meney paid to employees after retirement. Some people use this for their daily needs. Others use it to invest in a business. Business brings profit to them. But they may suffer a lose.
Of the two options which is best for the use pension money?

There are some employees who retired after getting to the peak of their career. For such people, their pension is going to be much money and so they do not bother about starting any business because their pension is enough to Carter for them.

 

[Aqkhan]

There are many ways to use pension. Pensions support many people in old age. Instead of wasting your time looking forward to reading a book, buy and read your books with these pension money. And there are many ways to use it as we can buy items we need.If there is a pension, then man would have to pay at least help. Tension especially supports you in your old age.

 

[Eamodu]

Pension is the meney paid to employees after retirement. Some people use this for their daily needs. Others use it to invest in a business. Business brings profit to them. But they may suffer a lose.
Of the two options which is best for the use pension money?

Well it depends on an individual and how much comes in monthly as pension. If it's small,then it can only go for managing in order to keep body and soul together. If it's much,then a business can be done to increase one source of income.

 

[Sanusi]

Pension is generally acceptable to all workers and also a retirement levy being paid to workers at the end of their service. Some pensioner use pension to meet their daily needs and where as other worker use it to invest, because they believe the money cannot sustain them throughout their entire life.

 

[Henrywrites]

The pension is not a great salary, but it is valid to take the social benefits that is a little more and invest. It is true that there is a possibility of losing the investment, when it is not done correctly, that is why I suggest you invest in a home and rent it, to have the benefit of the monthly payment or in a food business which is very profitable.

Some pension funds are not that big to handle buying of houses and all that. What I have noticed pensioners do here is to start small shops and manage it. This is how they survive as buying a house is very expensive in this part of the world.

 

[Sariana23]

Some pension funds are not that big to handle buying of houses and all that. What I have noticed pensioners do here is to start small shops and manage it. This is how they survive as buying a house is very expensive in this part of the world.

Excellent @Henrywrites , a small company that can be managed is a very good idea, and I can tell you that in this part of the world with the amount of social benefits, it is not enough to buy houses, but with money saved and that amount, if you you can buy a house, to help in old age.