It always sadden my heart to see our senior citizens been maltreated by the authority in-charge of pension fund. These our senior citizens has serve our country or state in various capacity and after 35years of meritorious services, they were neglected or abandon by the government without paying them there pensions and gratuities. If is an embarrassing thing to see all this old men and women protesting on street before the government can pay them a dime. Meanwhile the government officials can spend huge amounts of money on frivolity things. In fact it has gotten to a stage that workers should prepare very well for there retirement period before leaving the service. I will not ask them to embezzle public fund but try to do something when you are able.
Can you rely on pension for investment?
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marcusfe
Active member
Let me assume the poster is referring to gratuity and not pension. In my own opinion gratuity should be a huge amount enough o start a business but I don't think pension can. Pension is just a monthly stipend given to a retiree base on the certain percentage of the salary to augment their expense. Gratuity is that first huge amount of money giver to a retiree to start something profitable.
Chibson
VIP Contributor
It is not wise and advisable to rely on a pension for investment or even business. Pension may not be enough for you to invest and also feed yourself and your family. it is always advisable for people to save enough money during their work years to either start a business or invest in a lucrative business. So don't rely on your pension for investment.
IamDozzy
Active member
I wouldn't advise anyone to use his/her pension for Investment because there is a 50-50 chance that the Investment might work out or it might not. There is no assurance and once the investment fails then the retiree is back to square one probably begging to feed and clothing him/herself. Rather the retiree should start an investment while in service so that once he/she retires they can fall back on that business.
Chommyluv
Member
Pension is supposed to be for personal maintenance of the retirees because the money might not huge enough to start a business. Gratuity is always used to start a business or an investment. It the huge amount of money that every retiree always receive at the point of their retirement. This is based on a certain percentage that is removed from an employee salary monthly and kept throughout their service years.
Georgeadawara
Active member
It depends on how much you are saving. Depending on pension as an investment is not the best thing to do, it will be of good and a great benefits to get another way of investment the can also help you to be able to stand even after your retirement. And that will be like a piller for you to sustain you're success.
Mataracy
VIP Contributor
For me one cannot rely on the pension ho invest only if the system of the government of that particular country is good enough that at any time one retired, it is sure that one will be able to get it without wasting any time.
But in a country that a pensioner will process his/her person for many years before getting it unless you know somebody that is working in that office where you are processing it.some of this pensioners even died before they complete the processing which is very horrible and bad. So it not advisable to be waiting for pension before investing .
But in a country that a pensioner will process his/her person for many years before getting it unless you know somebody that is working in that office where you are processing it.some of this pensioners even died before they complete the processing which is very horrible and bad. So it not advisable to be waiting for pension before investing .
Briangsam
Active member
In my honest opinion, I don't think it is possible to invest with your pension. Pension is more of a stipend given monthly to sustain retirees either from a civil service or a private sector. So pension can not be used for investment. Gratuity however, is a huge some of money given to retirees after years of retiring and that could be used for investment.
Georgeadawara
Active member
It depends on how much you are saving. Depending on pension as an investment is not the best thing to do, it will be of good and a great benefits to get another way of investment the can also help you to be able to stand even after your retirement. And that will be like a piller for you to sustain you're success.
Kingsley
Valued Contributor
Relying on pension for investment can be a very risky venture in this part of the world where the government forms deaf hears and blind eyes to the demands of pensioners. They even exhaust the funds meant to pay up their pension on their own personal interest. It is not advisable to wait for pension here in Nigeria.
Looking at the situation i will say that's not a good decision even though i don't know the kind of pension the poster is talking about be it gratuity or pension that was paid after you retired from work. In country like Nigeria that will be the worst decision to make because the pension will not be paid when you are still alive to invest it. Most at time it's when you gone to be with Lord. So to is a bad decision ever to take.
Tinaconcept
Member
Yes as a person who is done with his or service once paid your pension you can decide to use the money for investment instead of spending it without count though the investment is only possible where the person is given the pension at one than part payments except if the little amount will be invested that way.
Alexandoy
VIP Contributor
The pension is the money that you have built up for your old age. When the time of retirement comes you will be receiving a monthly pension (or a lump sum depending on the type of pension that your government has). My take on the pension is not enough but at least the monthly pension that I receive can make me afford to buy some luxuries like ice cream or fruits that I like.
Samuel72
Verified member
It all depends on how good you are on saving because pension salary is just 50% of your normal salary, if you are unable to save your normal salary to invest I don't think it is possible for you to save your pension salary to invest. Saving your pension salary to invest is a very big task because at this point in time you really don't have much coming in
Mellorando
Banned
That is not a wise action to take investing your pension money isn't wise enough but in case you already have a lot of money in stock for day-to-day activities and also for unforeseen circumstances then you can in one way or other invest your pension money on something that you really trust will bring great impact
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