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  • Category: Miscellaneous

    Hold your retirement benefits for pride and decent living

    After putting great years of service either in central or state govt department, when the seniors retire, they would get hefty amount as settlement and if VRS taken before the time, the benefits would be further more. In that situation normally the elders wants to distribute the amount among the children and wife so that would do justice to all. But retirement benefits are not for distribution among children, but should should be held to chest so that the living would become pride and decent in fag end of years. What is your take ?
  • #753940
    We are emotionally attached to our closed members and any money received by way of our gratuity and other retrial benefits we think that these members must get their due shares and the same will be taken by them as token of affection. However the same thing does not hold good at all the times. Once we ask any help later on, they may not oblige us giving some reasons or the other. The world has changed so much that even our closed one may not provide the necessary help in the hours of need. Hence we should ensure that our members should manage their own expenses without being burden to us during our old age. At least in our old age, the benefits accrued by retirement fund would help us to manage our day today situations.

  • #753944
    Mohan Sir has raised a very very relevant issue. Nowadays, life expectancy has been increasing but at the same time, the cost of medical treatment has been increasing in astronomical proportion. For a quality life after retirement, everyone must try to save as much as possible while in service and must take care not to donate retirement benefits immediately after retirement.
    “Khamosh rahoon toh mushkil hain, keh doon toh shikayat hoti hain" (It is difficult to remain silent; But if I speak, they complain.) --------- Saba Afghani

  • #753956
    Mohanji, this is the best ever advice given by you. Every person whether he or she is a retired employee o whatever else, hold on to your in your lifetime. Distribute it whichever is felt better only after your life.
    " Be Good and Do Good "

  • #753962
    When hefty money seen in the bank balance, the behavior of members of the family would also be in liking way.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #753987
    Yes. I agree with the author. In the case of government servants at least they can rely on the pension they are getting even though they distribute the money they got towards their retirement benefits among their family members. But a private employee will not get a pension that is sufficient to make a living. For him, the interest that he will get by keeping the money in the bank is the main source of income. If he distributes the money there will not be enough reserves in the bank and no interest he will obtain and in such a situation he has to depend on his children for making a living. But there is no guarantee that his children will take care of him. So giving away that money is foolish.
    So whatever retirement benefits the employee gets should be safely invested in a nationalised bank and the interest can be used for their monthly expenses. Even after his death also the money should go to his wide and to the children after her death only.

    always confident

  • #753989
    The retirement funds are basically meant for having a respectful life after one is retired from active service. It is actually meant not only for the monthly expenses but also to meet the expenditure towards any eventuality in old age. So there is no point in distributing it among the family members. The children will earn their own livelihood and they have also some responsibility towards the parents and should take care of them and can definitely inherit the property of their parents later.
    Knowledge is power.

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