Amidst the soaring inflation and lack of employment opportunities, even the most qualified individuals have to resort to extreme measures. In a recent instance, the former Vice Chancellor of Bahauddin Zakariya University has started working as an auto driver.
Retirement & Inflation
Mansoor Akbar Kundi who has previously serving in the said university had to retire due to his employment tenure ending. In a recent video going viral on social media, he was seen driving an auto. While talking to the cameraman, he mentioned that the University of Balochistan doesn’t pay pensions to its retired educators.
While talking to the cameraman, he further compared the amount required to buy an auto in current economic condition to when he was a school-going kid. It turned out that the difference has become humongous no matter the level of essential goods and services.
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As inflation rises and job opportunities remain scarce, people are forced to find alternative ways to maintain their basic living standards and manage the increasing costs of utilities.
Retirement & Life Plans
For those planning for retirement, inflation can be a significant concern. The cost of living during retirement may be much higher than anticipated if inflation rates are high, potentially affecting the quality of life for retirees.
Inflation can be especially problematic for retirees because they typically live on a fixed income for an extended period. With increasing life expectancy, retirees face the risk that their savings and pensions may not be sufficient to cover their needs over a longer retirement period. Meanwhile, in instances where no pension is provided to the retirees, it becomes extremely critical for them to survive for their necessary means.
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