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Which plan is the best

Setho

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I just recently got enrolled for a pension plan and while am still filling the form, the insurance company has given me two options. Depending on the amount to be deducted from my salary, my pension can come in two ways.
1. They would pay the whole money after I retire in 3 installments for a total 3 years
2. Pay me monthly like salary
Which should I choose
 
I would strictly advise you to collect the monthly payment if you know you don't have any sure business plans that you had plan earlier on, but if you had already planned to start a lucrative business then you should go with the 3 years payment as it would give you lots of money by lifting your business.
 
My father is about to retire and I think he is going to choose the monthly one. The first option is good and preferable if you are thinking of opening a business after the retirement.
 
You can choose which you want but I would advise that you go for the monthly payment and that way you won't have to wait for months before getting paid and whatever you want to do, you'll be able to do it on time.
 
Personally, I think receiving the monthly payment would be better for you. Given that for the moment it will surely be more comfortable, it is a pity that you cannot choose when the date of the pension payment arrives. For that moment is that one sees the economic needs and possibilities.
 
It depends on what you think or you want to do with the money all of the two options are good but you need to decide depending on what you want to do for example if you want to start up a business then you rather go with the first option but if you don't think of starting any business after work retirement then you can go for the second option ,both of them are still good. It all depends on you.
 
I would prefer I was paid monthly, I can not stay for that long without money. We need money to carry out a lot of things in life. So I need my payment pension monthly. This will safe me from begging and borrowing as it makes me feel employed again.
 
I just recently got enrolled for a pension plan and while am still filling the form, the insurance company has given me two options. Depending on the amount to be deducted from my salary, my pension can come in two ways.
1. They would pay the whole money after I retire in 3 installments for a total 3 years
2. Pay me monthly like salary
Which should I choose
The purpose of pension is to give you support for meeting basic needs after retirement from active service. hence, it is only proper yu choose the 2nd option that guarantee a conitnuos payment of at least 10 years after retirement.By these , it means your total contribution will be spread out by the total number of years you chose. The longer the payment period, the lower the monthly inflow. This method is cheap in terms of installment amount but safer. Atleast you are sure to get something every month for a reasonable period.Except you have a business you want to invest the funds in, then you may go for the 1st option though riskier.
 
If you have business plan you have been dreaming of having. Go for the first option, collect it by installment. This will enable you to use the money for the setting up of the business but if you don't have any business on your mind, you can be collecting it monthly.
 
I will advice you to go for the second plan the reason is because it is going to be consistent. Nothing beat the feel of having something after you have done with the one at hand.

However, if it happens that you have a business or an investment you have deep knowledge about, I would advise you to go for the first one.
 
I just recently got enrolled for a pension plan and while am still filling the form, the insurance company has given me two options. Depending on the amount to be deducted from my salary, my pension can come in two ways.
1. They would pay the whole money after I retire in 3 installments for a total 3 years
2. Pay me monthly like salary
Which should I choose
Money is very liquid and if you don't make proper plan on how to use it, you will spend the pension pay I'm less than a year without even taking proper notice. So I suggest you go by the monthly payment, which might just be like the normal salary you used to collect and in that way, you will know how to manage it wisely without much wastage.
 
It is better they pay you monthly like a salary. But that depends on what you want to do with the money, if you want to start a business and you need capital for it then just have them pay you in three installments.
 
pension is the best plan to invest.
This plan can only favour those who are already working and that want an investment plan.

For me the best investment plan is insurance saving plan to guarantee future benefit in case of emergency and relief.
 
I will advise you go for this monthly aspect of pension payment, this will will enable save and plan well with the little resources in your disposal, while doing so it is better you seize the opportunity of getting another income generating work which is your own small business that fetches you money.
 
I just recently got enrolled for a pension plan and while am still filling the form, the insurance company has given me two options. Depending on the amount to be deducted from my salary, my pension can come in two ways.
1. They would pay the whole money after I retire in 3 installments for a total 3 years
2. Pay me monthly like salary
Which should I choose
If you can manage your finance more appropriately, and invest it on more suitable and lucrative business that can fetch you steady passive income as a retiree when the time eventually arrive. Then I will urge you to take the clear off for the 3 years duration.
 
They both have their perks, if you collect monthly as a form of salary, well that is some certain income there with little to no risk but if you've planned ahead, it could be your capital to invest in a new business idea.
 
It's really important that you received something every month, taking installments as a pension plan is not actually the best cause of your level of consumption and the amount of expensive you might have piled up during the times when you had no earnings at all
 
I just recently got enrolled for a pension plan and while am still filling the form, the insurance company has given me two options. Depending on the amount to be deducted from my salary, my pension can come in two ways.
1. They would pay the whole money after I retire in 3 installments for a total 3 years
2. Pay me monthly like salary
Which should I choose

Well, it depends on what plans you have for the money immediately after you retire from your job. Personally, I would prefer to make use of the first option because the second option would make it easier to spend the money unnecessarily.
 
If you know you can manage your finance very well, I will advise invset in any business that is lucrative business that will give you a steady income when you retire, so the best way for you is to invest,
 
I would suggest that you get a monthly pay than get lump sums in three years. After retirement, you should be more worried about meeting and taking care of your daily needs than thinking of just starting and managing a business, that should have come earlier.
 

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