A pension fund contains money collected by an employer that’s set aside to provide income to retirees after they retire from the company. The amount of money your pension fund will have when you retire depends on several factors, including your salary, how much of your salary you put in, and the rate of return the pension fund earns on investments after you put the money into it. Every country has different rules about how pensions work, so this article will focus specifically on the average pension fund in Namibia.

The amount of money you need to retire comfortably

Retirement saving is a crucial part of financial planning and should be started as early as possible. If you’re not sure how much you need to save, it’s important to estimate what your living expenses will be during retirement. The amount of money you need to retire comfortably varies depending on where you live and your other sources of income during retirement.

How much does the average person have saved for retirement?

The average person saves about $5,000, but experts recommend saving at least 20% of your income by retirement age to ensure a comfortable retirement. Here are some other statistics: 

– 7% of people have less than $1,000 saved for retirement – 34% of people have less than $25,000 saved for retirement – The median amount that people have saved for their retirement is $100,000 with an equal number of people having more or less than this amount saved.