Retirement is the age that one reaches and begins to receive a reduced monthly income from a Government administered a common fund to which he or she has been contributing while gainfully employed. The spouse too can receive a proportionately reduced retirement income. The incomes from the common fund are paid for life. Sometimes, adjustments on the amounts received could be made to meet changes on the cost of living. The main purpose of the life-time income is to help senior citizens pay for expenses incurred during their retirement years. Retirement plans, if they are available, differ from country to country. It is advisable to learn more of what applies to you.
Are you saving for retirement?
