The majority of top executives are men. These men who wear all the symbols of wealth command the respect and admiration of their peers. They drive flashy cars, dress in sparkling suits, live in luxury apartments, and earn big salaries. The big salary that they earn is the reason they can provide a luxurious life for their families. They are able to inspire great admiration in their spouse and command the respect of extended family members. But, a day is coming when their fat paycheck and all the luxury that come with it will end. When this day comes, their ability to provide for their families will come under stress. This day is the Retirement day. The Retirement day is the day that three things happen to a man. A man loses his ability to work and earn income. He loses his ability to provide for his family and he loses his ability to remain desirable. As he enters into full-blown retirement, the luxurious life, bragging rights and borrowed wealth all disappear. It is at this point that a man begins to question his existence. This marks the beginning of his financial crash. Perhaps, you still cannot picture this kind of life for yourself. The trappings of wealth that surround you blur your vision. But this kind of life is real in retirement. Whether you experience it or not depends on the quality of the plan you put in place today. If you get carried away by your borrowed wealth and fail to put a retirement plan in place, you set yourself up for a life of pain. Even CEO's will fracture in retirement if they fail to put a retirement plan in place.

Over the past 50 years, millions of top executives like you have lost their leadership position in the home to their wives in retirement. These men who were once kings in their own castles are now babies in their homes. The power they once wield has dissipated into thin air. The temptation is for you to think that this will not happen to you. At least your pension plan is big enough to take care of you. Let me show you why you should never rely on your pension. In fact, it is the fastest way to lose your position in the home.

The government pension scheme that you hope to retire to has a financial flaw that you need to be aware of. You contribute 7.5% of your current income while your employer contributes another 7.5%. This brings your total contribution to 15% of your current income per month. What this means is that in retirement you will live on a budget of 15% your current income. That is you will have to downgrade your current living standard to fit into this 15% budget. In fact, the reality is you will live below 15% of your current income. Your total contribution over time will be further divided down by 20 or 30 years. The result of this division is what you will receive as your pension payment every month. Supposing you decide to take the initial lump sum payment, your monthly payment will reduce even further. The money in your pension account can never give you the same provision power as your current salary. It is only meant to help you get and its true purpose is to protect the government from carrying your burden in retirement. The Government has put the pension plan in place to protect themselves from carrying the burden of old people without a source of income. But this plan only takes care of 15% of your life. Who takes care of the remaining 85% of your life? Without a holistic retirement plan, your experience in retirement will be pretty much the same as all the others before you. When you have the right plan in place, retirement can be a thing to look forward to.

But how exactly can you plan?

First, you need to have a clear picture of what a stress-free retirement looks like to you. Second, you need a concrete plan. What does a perfect retirement life look like to you? What do you want to achieve? How much money do you want to earn? What do you want to do? How do you want to create your own mark? And so on. Getting this information right is the first key to succeeding in retirement. Third, you need to make sure your plan contains the three things you must do before retirement. Once you achieve these three things you can face retirement without fears. To learn more about these three things, send the text “Three Things to do before Retirement” to 08101860042 for a special Free report.

So what else, can I do to help you?

The answer depends on what type of person you are. If you are indifferent, indecisive and need me to push you around before you act, I can’t do a thing for you. If you do not have the required savings to help you bring your retirement plan to life, no one can help you. But if you are a man who is action-oriented, responsible, and wants to inspire admiration in retirement, I can help you. I will give you the support and guidance you need to continue a life of relevance, respect, and significance beyond your active career years.

Retirement can be a continuation of life and not the beginning of a life of pain. Imagine your life when you have your concrete plan in place. All the anxiety, fear and sleepless nights will be gone. You have invested your whole life making the life of another man work. It is time to make your own life work. If you fail to plan and go into retirement unprepared you will suffer untold hardship. Worse off is that you will risk the future of your children by putting the weight of caring for you on them. You can stop all that now.

It is either you get a plan now that you see the opportunity or wait until you feel the heat. To learn more Click Here

Oh my good sir
If we had people like you in power, Nigeria wouldn't be where it is today

MrSolidWealth:
The government pension scheme that you hope to retire to has a financial flaw that you need to be aware of. You contribute 7.5% of your current income while your employer contributes another 7.5%. This brings your total contribution to 15% of your current income per month. What this means is that in retirement you will live on a budget of 15% your current income. That is you will have to downgrade your current living standard to fit into this 15% budget. In fact, the reality is you will live below 15% of your current income. Your total contribution over time will be further divided down by 20 or 30 years. The result of this division is what you will receive as your pension payment every month

come OP, any smart person knows that what you contributes every months is NOT what you will receive as a monthly payment when you retire. duh!!!

Nigerian Pension FUND
You can be paid in either of the following ways
A) You withdraw money from your retirement savings account monthly or quarterly depending on your expected life span. For example, if you have N10million in your RSA and you expected to live for another 30years they divide the N10million by 360 months or 120 quarters.

B) Through an annuity for life purchased from a life insurance company by the National Insurance Commission with monthly or quarterly payments

C) You can also withdraw a lump sum amount provided the balance remaining is sufficient enough for you withdraw an amount not less than 50% of your annual remuneration as at the date you retired.

D) As mentioned above, if you retired before 50 you can be paid 25% of the balance in your RSA provided that such withdrawals shall only be made six months after you retire and you do not secure another employment.

https://nairametrics.com/2017/11/30/beginners-guide-to-pension-fund-contribution-and-withdrawals-in-nigeria/