Do you think a pensioner can build a well structured house with his/her pension paid monthly??

[sincerem]

my dad is retired but not yet a beneficiary when it comes to pension payment monthly. The way my country delays in paying its retired civil servants is shameful, cos it delays. I was in a serious argument with my siblings concerning, if retirees pension salaries paid every month can do them to carve out a well structured and furnished building of their own, as their main living apartment. Some said it is possible when saved for some time, why me and my younger siblings disagreed that it can't be possible to be saving for a very long time, considering their age. They can't do such saving, it might take up to 10 years to get such amount required to lay down such building structure. And the retiree can't just wait such long to get down with such building idea, he or she needs money to feed and take of their body and not saving and saving for building.

Do you agree, that it is possible for a retiree to build a house with his or her pension salary??

 

[Josemendez]

The fact that most people do not know is that pension is not a fixed amount of money. Pension is calculated from the last salary the person received while he or she was still at service. For example , one who while on service received $1000 per month , upon retirement ,he will be paid something between $700 to $800 .
Thus ,one who retired with his last salary as $300 will be receiving pension in the range of $150 to $200. This is the way Governments workers receives their pension .

Now coming to your question , it depends on how much your father's pension worth .if it is quite high , then he might be able to save up to the amount , that he can use to build a big structure , IF he has other sources of income ,less by the time he removed money for feeding ,and other things ,he won't have enough money to save. That's the truth here.

 

[sincerem]

The fact that most people do not know is that pension is not a fixed amount of money. Pension is calculated from the last salary the person received while he or she was still at service. For example , one who while on service received $1000 per month , upon retirement ,he will be paid something between $700 to $800 .
Thus ,one who retired with his last salary as $300 will be receiving pension in the range of $150 to $200. This is the way Governments workers receives their pension .

Now coming to your question , it depends on how much your father's pension worth .if it is quite high , then he might be able to save up to the amount , that he can use to build a big structure , IF he has other sources of income ,less by the time he removed money for feeding ,and other things ,he won't have enough money to save. That's the truth here.

Lol, well answered, with the way the pension amount is, I don't think any one retired from government civil work can build a house with the low amount paid as stipend to them after service. Even during their service years they couldn't even save high, is it the little stipend paid as pension, they will use and build a house for themselves?? My father is a retired civil servant you never received up to $350 before he bowed out of service. Had it been he is only relying on such little amount, he wouldn't have built a house for himself. The government our country should improve on such low salaries to put smiles on their workers.

 

[Alexandoy]

With the government's pension plan here it is an impossibility to buy a lot and build a house. The maximum monthly pension here is only $200 which is just enough for one person. Even for a couple it might not be sufficient to maintain our standard of living. There should be other means of income aside from the pension to have a good life.

 

[sincerem]

With the government's pension plan here it is an impossibility to buy a lot and build a house. The maximum monthly pension here is only $200 which is just enough for one person. Even for a couple it might not be sufficient to maintain our standard of living. There should be other means of income aside from the pension to have a good life.

Here in my country $200 paid to civil servants can't even be enough for feeding properly for one month, talk more of building with it. It can oy be enough for a single pension and not for couple or family retired civil servant. But i believe that the gratuity can be enough at least to build a bed room flat apartment for the retiree if proper channelled to it.