Sir I remember that my grandpa used to get a fixed amount of pension from the government each month(former govt. officer) and it kept on increasing over the course of several years. So, I am just wondering if the pension that my grandpa used to get monthly was increasing in nominal terms only(remained constant in real terms=pension contrn made at the time of employment) or the pension scheme actually does give a return above the current inflation?
I refer you to my previous advice! The value of any pension fund is based on either what the fund managers have chosen to invest in or what the individual has instructed it to be invested in – it’s an investment and may go up or down at different rates. Please only ask questions relevant to your exam