RETIREMENT TENSION
The word "Retirement" sounds like heartbreak to most Civil Servants. Many of us never want to leave the service because of the payments we received (salary) and the positions we occupied.
Sincerely, there is no product without an expiring date likewise, the day you received your appointment letter is your manufacturing day.
Do you take cognizant of that date? What is your preparation for that date?
Don't think it's still far! Just like yesterday, some years ago when I received my appointment letter, I can't believe that I've spent that number of years in service.
Many Directors retired empty-handed while some Junior staff retired jubilating. Don't be caught in the web, start preparation now.
Things to take note of :
Make your calculations, know the day, month, and year that you will retire. The compulsory retirement age for all grades in the Government Service is 60 years or 35 years of pensionable service whichever is earlier.
Ensure that your Pension Account is funded monthly. I can say it emphatically that most Federal Civil Servants never bother about this account until they retired. Be sincere to yourself, when last did you check your Pension Account balance. All you concentrated on is Salary Account. Check your Pension balance today and raise alarm if necessary. Blow the whistle if need be, don't shy away. It's your right to know!
Ensure that your National Housing Fund account is not dormant. Make inquiries, it's been deducted at source monthly.
Engage in an insurance package with a reputable Insurance company with as low as five thousand naira monthly and you will marvel what that will earn you at 50 or 60 years of age. Pension payment doesn't come immediately because you need to process it, this can sustain you while patiently waiting for the Nation's go slow in computing pension benefits.
Don't invest your savings in a Ponzi scheme, it can ruin your retirement plans.
Set a realistic goal of every 5 years, 10 years, etc of what you intend to achieve. Invest in that goal.
Try to retire with a roof on your head. Get a plot of land and develop it gradually. Don't put all your hope on your child(ren) as it may turn out to be a story that touches the heart.
Start to acquire skills and knowledge on the business you will engage in whenever you retire. Don't think of going back to the village and stay idle as this may make you liable to unsolicited health challenge(s).
Don't live above your income. Avoid extravagant lifestyle. Civil Servant's salary is too meager for such.
Keep all your documents intact. You will need them to claim your benefits.
Comrade, no time. Your expiring date counts daily. Start preparation now, not tomorrow.
Thank the entire community for allowing me to air my view. But at the same time is a lesson to us all.