Retirement planning, in a financial context, refers to the allocation of finances for retirement. This normally means the setting aside of or other to obtain a steady at retirement. The goal of retirement planning is to achieve financial independence, so that the need to be gainfully employed is optional rather than a necessity.
The process of retirement planning aims to:
1.Assess readiness-to-retire given a desired retirement age and lifestyle, i.e. whether one has enough money to retire; and
2.Identify actions to improve readiness-to-retire.
In July 2012 Tanzania Social Security Regulatory Authority (SSRA) amended the social security Laws, I suggest you read this article to have an idea of Retirements Planning and benefits… MJ