It is a dog’s life for retired men. Adjusting from ‘loss of a stable work routine’, the associated sense of purpose and importance, to getting used to the boredom of waking up and sunning yourself like a lizard and staying at home daily.
A rise in borrowing costs has wiped off more than £545bn from the value of defined benefit private sector pensions in nine months.
The market value of private sector defined benefit and hybrid pensions plunged from £1.8 trillion in December 2021 to just under £1.3 trillion at the end of September 2022 – a drop of 30pc, according to the Office for National Statistics.
Last week, the protests across China over the country’s strict zero-Covid policies rattled global markets as concerns grew over the effect of possible unrest on the world’s second-largest economy and the leading manufacturing hub.
The Retirement Benefits Authority (RBA) said the contraction in the assets by 2.16 percent to Sh1.514 trillion was due to volatility in the financial markets and the political campaigns ahead of August’s general elections.
Planning for retirement is a phase that we all need to pass through at a point in our lives. When at this point, we need to be patient with ourselves and make lifelong decisions that will suit us in our retirement life considering all factors in our life stages.
The Retirement Benefits Authority (RBA) says they had given schemes time to familiarise themselves with the process, set up policies and begin advancing member deposits before they could track the implementation of the law.
He had a feverish calendar. He had hours that felt that they were constantly melting into each other the moment he swung his legs from the bed. He had people who knocked on his door and sat across his desk with notepads and creased brows.
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