Retirement -
Hello #qccommunity friends, I trust you are doing well. Happy new day. This day is so calm and beautiful. I wish you all a wonderful day.
Jobert_Aquino
Different Reasons For Retirement
Retirement can be defined as leaving regular employment and relying on other sources of income for sustenance. This can be caused by several factors such as :
• Age- when an individual gets to a certain age determined by a country and company’s policy as the retirement age.
• Disability and health issues- when an individual sustains a permanent injury or is treating an ailment that makes the person unstable or unfit to work.
• Voluntary/early retirement- when an individual feels the need to exit a full-time paid job and venture into other personal endeavours, the person can end their paid job and continue to pursue their dreams
The most important factor here is that the individual envisaging or planning to retire must have prepared for other means of sustaining themselves after exiting regular employment because man must eat and, more importantly, still meet daily obligations.
As for me, there is a pension fund bill that I subscribed to as an employee that abides by the extant laws of employment in my country of origin.
How it works in my country of origin
We have a compulsory pension scheme that stipulates that a certain percentage is deducted from an employee’s salary while the employer contributes a certain percentage as well. Those funds are expected to be paid within eight days after the payment of salary to the person. However, this is applicable to a firm that has more than 5 employees on its payroll.
Unfortunately, some companies default and do not remit the funds after the deduction, causing complaints and quarrelling between employees and employers. On the other hand, some employee’s will tell you that they don’t want to subscribe to it because their salary is not enough.
However, some who know the benefits are adding voluntary personal pension funds to prepare a solid foundation for their retirement journey. Every country has its own pension plan, and I think that individuals can make it work better for them.
Therefore, deliberating and making a decision on a pension fund that is higher or lower than, equal to, or higher than your current salary might not be too easy for me right now because the government makes the policy through constitutional reviews.
SoloBrothers
My Plan
Is to influence the decision and make my retirement solid by adding the personal voluntary pension fund. This is because of the increased interest on that subscription and full access to the money after retirement. I already have businesses I am planning for that period. Retirement does not mean staying inactive or irrelevant.
When I retire, I will have enough time to enjoy myself, rest, play games, and go on vacations. Better still, I will continue other means of working; though the pace might not be as before, it will now be fully determined at my own pace and time.
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