Over 30 years of retirement, Penman would collect as much as $519,523, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.
The projection assumes Penman received $10,920 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 2 years of retirement, Penman will have already received $22,168 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.
Alerts Sign-up