Ole age pension…..
Hail up. I have a few moments, so I going scratch mi balls suppem down. Monday I passed by one of my Aunts….hadn’t seen her since about five months ago…but we speak on the phone regularly. This is the sister that was born before my dear Mother (deceased almost six years)…..who was the last child of ten for my Grandfather. (Seems as if I didn’t inherit those reproductive genes…as I haven’t fathered a yute yet.) We got to chatting. Her husband who is now almost eighty two is getting shaky. No income. Retired about three years ago. Has no pension. Didn’t get fart when he retired apart from a ’send off’ dinner.
My Aunt worked for one of the big legal partnerships here for more years than I am old (or young if you feel like)….in excess of forty two. She was a Legal Secretary. Got long service award how much time over the years….got to the point where she told them she doh want anymore gifts….’give me the money please if I am to get anything’.
She retired last year also. Getting a pension. Their house is paid for. But, not in great shape though she used most of the funds she had saved over the years to do some roof work, painting etc. after she retired. They have a daughter…..she teaches….small salary. She also not in the best of health from time to time. I was in shock when my Aunt mentioned to me what her pension was. Now, doh get me wrong…I naw show off. But what she is receiving for pension on a monthly basis is less than my Income Tax deduction! 
I felt for her…..this is my family. Imagine, after she been bussing her rass all these years, the likke funds can barely carry on the househould….not to mention that there are medical bills as well. I told her that I going give her a money outta the retroactive pay that I was just given. Is not nice to know that your peeps a suffah…and is not like dem been loafing all dem life. Life hard nuh bloodcleat eeh?!
It got me to thinking about my own self. I aint pensionable either. Is gratutity I man get at the end of a contract in lieu of same….. As I mention that, I still have not yet got my gratutity for the contract ended Dec 31, ‘05. Several phone calls and trips to accounts have been made. I been told that I am not the only Doc. in this position. Dem ‘trying’ to pay some this end o month (which is here)….and some next month. So, I had to say to the Accounts payable manager (who was quite sympathetic to my situation btw) that, “So I guess is like Lotto….luck of the draw!” Apparently dem nuh have nuh dinero to rahtid. Well, up to yesterday, luck of the draw hadn’t come for me. Wonder if dem going gimme the interest I could have earned if I had it on a fixed deposit for the four months!?? Yeah, right!
Anyway, I guess the moral of the story is, try to make some sort of financial planning for your years to come. Force yuself to puddung suppem from now…and try lef it alone. Do not depend on pickney to support you…there is no gurantee that they will be in a position to. Fine, if they can and want to help look after you (as many that I know…myself included) especially when you’ve had good parents. But, just remember…..put something away for those days. Old age and sickness go pretty much hand in hand. Set aside some o dem dollar$!! No matter how small. Enough of me.
April 27th, 2006 at 4:15 pm So very true Dr.D. It is of utmost importance. I work with pension and the maximum you can receive is 2/3 of your leaving salary. So from yuh hit pension age…you are guaranteed a 33 1/3% cut in income and yuh pension still get taxed.
April 27th, 2006 at 5:01 pm Good post.Recently they were highlighting the plight of office attendants who don’t get any pension after working for umpteen years.All they get is a gratuity-not very large either and then they on their own.Not very fair IMO but that’s how it is right now.That’s why a little investment is necessary for when the golden years arrive
April 27th, 2006 at 6:37 pm wise words indeed.
April 27th, 2006 at 7:50 pm Bwoi doc yuh hit di nail pon di head again.I try save a likkle ting every month along with my investment type insurance policy. I also give the old lady a money every month….di government pension caan do shit!
April 27th, 2006 at 8:33 pm My heart goes out to those two old folks, your aunt and uncle. Well done you, to help them, Dr. D. You’re right too, a solid trust fund, investment fund, is excellent advice. Hey, a good book on money and management is The 7 stages to money maturity. It is so easy to read, it’s for us ordinary people.
April 28th, 2006 at 12:31 am Well, since I’m still relatively young, and havent started to work yet (well, the last short jobs that I had don’t count), it would behoove me to apply your advice. Maybe if I save $200 weekly from now on, do you think I would be set for life? Somehow, I always told myself that I just dont want to end up miserable in my old age in the same manner as some persons that I’ve seen before. I know that old-dom is inevitable, and since I have no intention whatsover of ever having children, then that reliance is gone for me. Which brings me to ask, if you dont mind Doc, why no child? Is it diaper worries? I used to think that well, maybe I wouldnt be so bad off because I’m intending to be a Corporate Lawyer so things may be a little easier. (How deluded of me?) Still, getting a big job at a law firm after graduating university isnt even a firm possibility. I may very well just end up at Burger King asking “Would you like fries with that, sir?” Or I may be somewhere else saying “No, ma’am, don’t walk there.. the floor is still wet.. I haven’t finished wiping it yet. Dont you see my bucket and mop right there?” I guess maybe one sure way of cementing the viability of my old age is to just marry somebody who’s rich till them fool. Either that, or kill myself before I get old. Well, I have so many years to go. I should take out a pen and paper and start planning from now. A Guardian Life insurance agent came up to me the other day and started outlining their various packages and insurance plans and advised me of the imperative need to have one. I gave it some thought, but somehow, and I’m sure all young persons would agree, the thought of paying $3500 per month until forever seems unattractive and unappealing. Maybe because it’s primarily not a tangible type of investment. Furthermore, I am still ignorant as to its purpose, since it will only be disbursed to beneficaries AFTER my death. That’s not good! I wont be having any damn children, so why would I need to invest money for them to have after I die? And what use is the money to me after I die? It would be a better option if they made me invest with them, then when they think I’m ABOUT to die, then they give it to me, and I’ll just be able to spluge with it before I die. Allegedly. I can already smell a multitude of fraud schemes cooking up. Oh shoot! I forgot I’m not in the psychiatrist’s office. Sorry bout the ramblings. I should start to tie up fingers so that I don’t type as much.
April 28th, 2006 at 7:52 am Doc, yopu may remember that I have written a similar post to this one where I spoke about how in times past, an elder who could no longer fend for themself would just leave his tribe and go out alone into the wilderness to die? It was based upon just the same thing. I saw where pension cyah help nobody and how easy it is for the elderly to find themself in a position where they have to depend on their family for help. Personally I find that thought depressing. I hope not to end up like that, but I am not yet comfortable that it won’t. I will be working towards that not happening still… wish me luck, or at the very least, death before 70 (so avoiding living of my son’s earnings)
April 28th, 2006 at 8:40 am First off Kash…no yute(s) yet cause me nuh married…simple. You are still young, I am sure as you get older you may change in your outlook about the having of offspring. Somehow, you’ll get to a point where the bug to procreate bites, and the thought of a little Kash irie nuh rass. Most of us would like to add the fruit of our loins to the gene pool. Re insurance policies, you can get one where you are the beneficiary…..there are some life policies that mature or become void when you reach a certain age and haven’t died….eg age 70. At that time, you get the policy cash value. $3000 mash per month may seem a lot to you now as you are still in school and not working, but trus me, 10-15 years from now, a policy with a value of say $1.5-2.0 M Ja cyaan do shit (as Charles said ’bout govt. pension)…so keep that in mind too. Having said all of this, it nuh easy to mek oneslef comfy for old age financially…..for many people it is a constant struggle…particularly when you live in a place like this where the money is akin to toilet paper in value, and it continues to devalue slowly but surely.
May 1st, 2006 at 4:28 pm I start thinking about my old age already and I’m not even 30 yet. Have to make sure we ok then cause there might not be children and nephews like you to take care of us even in the smallest way.