Hello beautiful people. The word "Retirement" sounds like a heart break to most Civil Servants.
Some of us never want to leave the service because of the payments we received (salary) monthly and other benefits that are attached to the job and mostly importantly, the positions we occupied.
Sincerely, like product with expiring date, our job contract has an expiry date, there is an age we will get to, and it will be recorded that we are to retire. The day you received your retirement letter is like that day.
Do you take cognizant of that date?
What are your preparation or action plans that you have put in place in respect of that date?
Do not think it is still far! Just like yesterday, some years ago when I received my appointment letter, I cannot believe that I have spent that number of years in service.
I have seen many active directors who were well positioned retired from service empty handed while junior staff retired in jubilation. Do not be caught in the web, start preparation now.
Important things to note:
Make your calculations, know the day, month, and year that you will retire. The compulsory retirement age for all grades in the service is 60 years or 35 years of pensionable service whichever is earlier.
Ensure that your Pension Account is properly 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 necessary, do not shy away. It is your right to know!
Ensure that your National Housing Fund account is not dormant. Make enquiries, it has been deducted at source monthly.
Engage in insurance package with a reputable Insurance company with as low as few thousands monthly and you will marvel what that will earn you at 50 or 60 years of age. Pension payment does not come again till after one and half year, this can sustain you while patiently waiting for the Nation's go slow in computing pension benefits
Join a good co-operative society in your place of work and avoid reckless borrowing for unnecessary things.
Do not invest your savings on 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 towards that goal.
Try to retire with a roof on your head. Get a plot of land and develop it gradually. Do not put all your hope on your child(ren) as it may turn out to be story that touches the heart.
Start to acquire skills and knowledge on the business you will engage in whenever you retire. Do not think of going back to village and stay idle as this may make you liable to unsolicited health challenge(s).
Do not live above your income. Avoid extravagant lifestyle. Civil Servant's salary is too meagre for such.
Keep all your documents intact. You will need them to claim your benefits.
Fellow comrade, no time. Your expiring date counts daily. Start preparation now, not tomorrow.
