When we hear about the term "Pension" government jobs strikes our head and many of us would be knowing about post office pension schemes. But how many of us have realized it's importance at an early age? just when we have started earning? As per my knowledge people think more about getting a housing loan than a pension scheme.
Over the next thirty to forty decades life expectancy will obviously increase in India with almost equal populations of old age people and youngsters.
Honestly speaking more number of senior citizens adds to more number of less viable workforce in the country and the government has to pitch in more number of senior citizen welfare schemes.
But already government and other public and private sectors are deciding on scrapping of the pension options thus providing only provident funds or lump sum benefit amounts.
Now the problems are none of us will know our life expectancy, whether our dependents will be able to take care of us, health and wellness, our financial burdens, liabilities, economic situation of our country, inflation, cost of living etc.,
Furthermore getting a bulk amount at the time of our retirement will rise so many questions like how to invest, whom to trust and invest, is it just enough to survive on a fixed deposit interest or can we take enough risk to start a business.
And all the available pension schemes are deciding the amount, duration, also fixes the amount based on the premium which we are ready to pay today and it is certainly difficult to decide today as what is the ideal pension after thirty to forty years.
So it is important to get a pension as a financial security, a pension which will support us survive according to the cost of living and if all of these are ignored it is equivalent to the fact that old age care is being ignored.
nyc
ReplyDelete