Pensions fall short of securing retirees� future
Friday, March 03, 2017
Graph by NBFIRA
Many financial experts at the recent BPS annual conference said a retiree needs between 60% and 70% of his final salary as a pension in order to maintain their lifestyle.
“This target pension ratio, referred to as a ‘replacement ratio’ is expected to be enough for the retiree provided he has no debt and no dependants at their date of retirement,” says BPS chairman, Peter Hikhwa.
The statement, whilst some may say, comes a little bit too late, is timely as gender-based violence (GBV) continues to haunt the country. A week hardly passes without reports of a wife, a girlfriend or boyfriend being killed by their intimate partners. Just recently, a high-ranking officer stationed at Glen Valley Barracks reportedly murdered his wife and has so far managed to evade arrest. It is also alleged that another soldier murdered his...