Pension schemes shortchanging retirees

THE current pension system, encompassing private and public schemes, is falling short of providing retirees with reasonable benefits raising the need to have a retirement planning mechanism in place, experts have said.

Last month, the National Social Security Authority (NSSA) warned retirees not to overly rely on pension pay-outs.

Pensioners have, for years, suffered from paltry pay-outs.

This story is for NewsDay subscribers.