I don't think pension can satisfy all your need so my advice is that investing part of it will help and also you can think of running a small business in other to get small cash.Mostly people have a big family to look after. And have many expenditures like paying bills, look after the guests, festivals etc. How you manage everything in your given pension?
I agree with the investment options because I didn't have such plans when I was younger. Now that I am already retired but I am still trying to have enough money for investing in real estate. That is the safest investment that I know. Fortunately more funds will be coming in by next year.Those who earns from pension scheme should plan for retirement. Not not just relying solely on pension scheme to earn money full-time, but other investment options should be enrolled into.
One of the best thing any active individual can do for himself while in active service is to have some side business on ground.t will afford him the oppourtunity to learn about the business terrian and understand how operations in business works.Most Pension are just a small token, it is barely enough to take care of a person's need talk more of a family. That is why it is advisable for people in active service to pick interest in any business, so they would have a source of income when they retire.
Whe it comes to the issue of using pension funds to take care of welfare needs,one need to be very discrete about how the funds are being spent,he needs to priorotise his needs and tackle the one with the most urgent need.there has to be a way you will divide the money into different compartment which makes it that a particular money is for a particular expenses and you also have a budget for unforseen circumstances likewise pocket money