What To Do When You Receive A Low Pension Amount?

Good-Guy

VIP Contributor
Receiving pension is not an easy job for all the people and this is mainly because there are many private companies that do not provide any pension or recompensation program to their employees. This is a quite unfortunate situation for many people who may have trouble generating income at a later stage in their life. I have seen many older people working and struggling till the end of their lives and they have a hard time living a good life. This is a sad reality of many countries. However, I have seen many people struggling with pension they recieve and one of the biggest reasons is that the pension they receive is just not enough and they have a realy hard time saving money. So, What Would You Do When You Receive A Low A Pension Amount?
 

btaliat

VIP Contributor
The bitter truth is that pension is not enough for the benefaciary. There will always be more things to be sorted out. When one is plagued with low pension, the best thing is to find some other means to be making money instead of depending solely on a pension that may not be enough
 

Mika

VIP Contributor
Generally speaking, how much money you receive as pension depends on how much salary you were drawing by the time you retired. If you were drawing high salary, you will receive high pension and vice versa. If you are going to retire from low salary job make sure to save enough when you retire
 

Caramelle

Active member
Social security does provide the pension based on an individual's salary-based contributions. In our country, besides the pension, an employee is also entitled to a retirement bonus at age 60 when he/she has spent at least 10 years with a company. These things add up to the retirement bounty but we do know that retirement brings with it health issues that retirees have to contend with. Thus, it is always said that the pension is never enough. The ideal situation is to create passive streams of income from a diversified portfolio prior to retirement. Sadly, this is easier said than done as many of us get sidetracked by responsibilities that come with our roles as parents, spouses, or as a child of aging parents. Failing to invest in reliable sources of passive income will likely force us to work well into our twilight years or be dependent on the good graces of our children or relatives.​
 

Alexandoy

VIP Contributor
It is pathetic when your pension is very like mine which is only $100 per month. If you have no child who would provide financial support then you are doomed if you don't own your home. I know of many pensioners who are in that situation like begging from his adult children or from his siblings who are well off. At least for me, finances is not an issue because I have a big savings in the bank that can last me for 30 years. You may think that I am bragging but I have already computed the budget based on my present expenses now. I would need $10,000 per year to sustain my expenses that includes everything, from the payroll of the house helps, food and utilities plus some small luxuries. I am so lucky to be in this position that I am really thankful fro what I have now. Oh, I'm sorry if you feel that I am bragging already.
 
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