Like the wisest king to have ever lived, I have seen an evil under the sun; I have seen how men toil from sunrise to sunset; I have heard tales of how men struggle for years and have nothing to show for it their last days. I am not too old but I have been around long enough to see the skepticism with which people approach life as they get close to the “retirement age.”
Most of us go about our daily “hustle” without thinking about the next thirty years. In our minds, it is too far. Some of us may think it is absurd to think of thirty years from now, when you haven’t even thought of the next five. Well, it is reasonable in some sense. But if you start thinking of how financially sufficient you would like to be after retirement, you will definitely start thinking about the next thirty years.
The time to start thinking about pension is now. You don’t have to wait to get to twilight before you start to. Inasmuch as your employer makes some contributions to Social Security and National Insurance Trust (SSNIT) and another privately managed occupational scheme on your behalf at the end of each month, it is not enough. You have to get a personal pension plan.
You don’t have to save up to start. You can contribute as little as GH¢20.00 or even GH¢10.00 every month. All you need to enable you start is the knowledge of the various personal pension packages and how they work. So talk to a pension fund manager as soon as possible. The National Pensions Regulatory Authority (NPRA) has provided the list of registered pension fund managers on its website. They even added their locations and telephone numbers. Get in touch as soon as you can.
No matter how long day lasts, night will surely come. You have to prepare for it.