Well to some point you are right. But I want to proof you wrong in aspect of average Nigeria graduate at 25, that was then now education system in Nigeria has changed. We have students graduating at the age of 23-24. Though, it's not easy to get a job in Nigeria, but if you want to start pension, the best age is 26-30 not 40 above.
Is it still fine to start a pension at age 40?
- Thread starter Edward2
- Start date
According to my own point of view, I believe it is fine to start pension at the age of forty. And I also believe you can start pension at any age as long as you are still working and as long as the pension company accept you.
As long as you have the means to pay for the monthly premium for a pension plan the age would not matter much. There are pension plans even for the age nearing retirement although the proceeds or the monthly pension is not substantial anymore. If the government has a pension plan for all the workers then it is all right to not have another pension plan because I understand the expense for the monthly premium.
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Though you can actually start your pension at that age. It's not actually advisable reason because you have just about 20 years of service left. You won't be able to add much to your pension fund. Unless you are on a very high salary then you will be able to save something significant.
Early successful retirement in life is what some people wish for, and i don't see anything bad in that. It is always good to plan ahead, even at the early stage of your career you start organizing a plan structure on how you retirement would be like.
I did not understand your thread very well. If you are talking about starting to save for the future pension, it should be earlier to accumulate enough money for retirement age according to the agreement you have in your country. Now if you talk about receiving the pension at the age of 40, I think it is very soon, you should expect to be older, since it is not known what the future will be with health and you must be careful.
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Mostly it’s always a good idea to start a pension as soon as you can, even if you can only pay a small amount into your pension to begin with. Starting a pension early can make a big difference to how much your pension pot is worth on retirement. While in 40, it is always it always better late than never.
Some will say it is rather late than having none at all and I agree. Even at the age of 50 one could get a Job and need a pension. There is absolutely nothing wrong with that it just reduces your potential output.
I can be not Waite till at be age of 40 before I will plan to start my pension. I'm, I started working as a salary earner I will plan for my pension so that by the time I retire the pension money will enough to make what will make me enjoying my life after retirement because I don't want be doing any stress work/business again after my retirement.
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It not adviseable to retire at age of 40 that is the age people supposed to be saving enough money so that when they retire they will have something down to look at they can also start business with the money save when finally retirement
Well we always need to think about others and for the best of our country. If you get retired at the age of 40 and starts your own business or anything else, a person would be hired at your place in the sector from which you have taken the retirement. It means you have given place to an unemployed person and you have played your role, either it's not so big. When you start business, you automatically hire two or three other persons, so it leads to make people employed. I think it's a good idea.
Starting pension at the age of 40 is not good at all, to its not advantageous at all because it will be too late at that time, is like you will not have more energy to save so it makes more sense if you start at the age of 26.
Starting pension at the age of 40 is not good at all, to its not advantageous at all because it will be too late at that time, is like you will not have more energy to save so it makes more sense if you start at the age of 26.
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Starting pension at the age of 40 is not good at all, to its not advantageous at all because it will be too late at that time, is like you will not have more energy to save so it makes more sense if you start at the age of 26.
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If you're wondering whether to get in touch with our pension experts then remember: it's never too late to start your pension planning. However, whether you're 25 or 52, it's a good idea to start now.
While 40 might be a more advanced time of life to be thinking about your retirement plans, it's by no means too late. With the recent increase in State Pension age you now have another 28 years until you're eligible for a State Pension, so you've still got time to save for a comfortable retirement.
If you're wondering whether to get in touch with our pension experts then remember: it's never too late to start your pension planning. However, whether you're 25 or 52, it's a good idea to start now.
While 40 might be a more advanced time of life to be thinking about your retirement plans, it's by no means too late. With the recent increase in State Pension age you now have another 28 years until you're eligible for a State Pension, so you've still got time to save for a comfortable retirement.
While 40 might be a more advanced time of life to be thinking about your retirement plans, it's by no means too late. With the recent increase in State Pension age you now have another 28 years until you're eligible for a State Pension, so you've still got time to save for a comfortable retirement.
Post automatically merged:
If you're wondering whether to get in touch with our pension experts then remember: it's never too late to start your pension planning. However, whether you're 25 or 52, it's a good idea to start now.
While 40 might be a more advanced time of life to be thinking about your retirement plans, it's by no means too late. With the recent increase in State Pension age you now have another 28 years until you're eligible for a State Pension, so you've still got time to save for a comfortable retirement.
Well the ideal age to start pension is twenty-five years old or when you start working or getting a job. But if you are late getting enough money to save for your pension any age will do to start saving for your pension.
Exactly there is no time that is too late to start a pension plan for your future. Some people are lucky to start on time but others started late and there is nothing wrong about starting late. 40 years is not too bad to start a new pension plan for your future.
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i feel it's not too late at that age to start your pension as half bread is better than none,you will still get a tangible amount of money even if not up to your expectations but it will be of use and importance by the time you are out of service and this is going to contribute positively by then
Is really bad to said so because it is still early. At least let say like 60s. At 40s you are still young to said so . But it depends on some ones choice of how he lives his own life. No one is a captain of anyone's life. You live your life the way you want. All is good but it depends on your choice
Although 40 may be a more advanced span of life to think about your retirement plans, it's not too late by any way. You now have another 28 years before you are eligible for a state pension with the recent raise in the state pension age, but you still have time to prepare for a secure retirement.
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Wait. So you can actually starts collecting your pension when you're 40? I thought it was just for 60 years old. Lol because most people from my country is like that. Anyway if you can start and retire early then that's the best. I would rather enjoy the money at a younger age. Many things you can still do.
On the off chance that the circumstance you have wound up has made that age the time you can begin procuring enough to put something aside for annuity, at that point proceed on the grounds that it isn't really about how long however how well. Once more, there is as yet around 20 years which is still long to compensate for it.
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