You can’t just have a happy retirement, you have to make it happen, so here are some tips towards that:
Start saving early and stick with it. This means getting a pension plan that works for you. You’re not going to work for life, so have a clear picture from the outset about how you’ll get on and keep living your best when you’re no longer working. That’s when you’re going to need money coming in for you on a regular basis so you can have a happy life and achieve the things you want to achieve.
So now is a great time to put some thought into this and decide how you’re going to get on when you retire and how much you’ll need to make it happen. Then talk to your pension firm about it and they’ll walk you through the whole thing.
Some employers have a private gratuity or retirement plan that employees can cash into when they stop working for them. But every employer in Nigeria with three or more staff has to deduct a part of their staff’s pay and remit it to a pension firm towards retirement. This is in addition to what the employers too have to contribute as the boss.
It’s the government’s national pension scheme and everyone has to be into it whether they’re in the public or private sector. So you have to check with your employer to make sure they’re remitting your pension duly and also see what other benefits you’re entitled to when you stop working.
A lot of people save their money and soon blow it. But what’s the point of saving in the first place? Saving and investing go hand in hand, so when you’re saving for your retirement, you’ve got to also make sure to invest some of your money into something wise.
Your pension firm won’t let you withdraw from your retirement savings with them so you don’t lavish your savings. But the good part of saving with a pension firm is that you could actually get up to a quarter of your pension right now if you ever lose your job and can’t get another one within four months. But you’ve got to use this window sparingly and keep your savings intact all the way.