After my last trip home it was very clear to me that I need to set out a plan so I set up a pension plan where I make deposits regularly. This after reading of the retirement dilemma – the earlier you start the better, plus although I would love to consider self-employment in future. I think with so much hype on outsourcing - the government and employers have also re-defined their responsibility towards us. The pension schemes have been hit hard - what struck me is that here pensioners are being encouraged to go back to work. That is a luxury I cannot afford given the environment where I come from - high unemployment and an almost stagnant/vulnerable economy.
After changing jobs I opted not to join the pension scheme at work since being on a contract I don’t see myself staying there for long. And even a more convincing reason is I hate saying this, I’m still not sure how long I will be here. In my limited knowledge I therefore decided my savings should be in Kenya.
Early this week I received a letter from the pension scheme I was a member advising me of my entitlement after I turn 55(!) – I was hoping to get an early settlement, so I applied for an early pay-off. Just received feedback the earliest I can get my benefit is at 55 and it doesn’t matter where I am funds will be transferred to my account. At least that solves one problem, but I wonder the complications of being a global citizen working on contracts the option is to take control of one’s pension
In the next few days I will be getting an estimate so let’s wait. 55 that’s a long wait I want it now.
What a way to spend a Saturday evening - listening to country music and worrying about pensions!
By the that's Gary Allan - "Life Ain't Always Beautiful"
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