What is a good pension?
A pension is the income you receive after you have stopped working. The pension from which every person can live comfortably differs per person. Its amount depends on your personal standard of living, wishes, and the costs you expect to have during your retirement. A rough calculation for determining the amount you will need during your retirement is the following method:
- You calculate or determine how much you want per month.
- You multiply that by 12 (number of months in the year)
- That amount multiplied by 20 (easy to calculate retirement years)
Now you have an estimate of the total pension amount needed for later. That is a rough calculation for a good pension.