Isn’t pension and gratuity to some extent meant for retirement? Why should I bother creating a separate retirement fund?
If you are planning to rely just on pension and gratuity money for your sunset years, you are walking a high risk path. While pension money is devised to offer you financial support when you are not working, the money is likely to be insufficient for your needs when you consider the rise in inflation. Old age brings with it a number of challenges like medical emergencies and other expenses. Just by relying on your gratuity or pension money is like aiming at a dartboard with a blindfold over your eyes.