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Retirement
Do I need to save for retirement if I have pension?
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[QUOTE="Kendy, post: 218230, member: 63869"] Having a pension or being ascertained of getting a pension after retirement is not a yardstick for you to think that savings is not important. From the knowledge I have about pensions, it cannot be the same worth or amount you get while you were in active civil service. For instance, if your a worker in the public civil service organisation then your take-home income was about $2000 per month, after your retirement the pension you would be receiving would be lower than the $2000 you were usually receive which can be pegged at $800 or $1200 depending on the criteria and this goes out to show that savings is a necessary step towards retirement age. Saving towards retirement age is a necessity because the pension cannot solve all your impending problems and at times, a pension may not be paid immediately you retire from your business or your work. It may take some much time for computation and analysis to take place especially in some underdeveloped countries. Even in my country, in some cases, it takes clamour before the government approves pensioners payments, so it is a wise decision to save towards retirement and not to rely solely on pension as a means of survival. [/QUOTE]
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Do I need to save for retirement if I have pension?
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