How can a retired person manage his income?

Your income stream during your retirement years usually depends on your annual expenses, the amount you have saved and the amount of years you project you will stay in retirement. To balance your income with your expenses, consider doing the following:
Make a list of your monthly expenses, such as utilities - including electricity, telephone, gas and water - groceries, rent or property taxes and transportation. Also consider medical and leisure expenses. These amounts may change each year because of cost-of-living increases, which means that you must do an assessment at the beginning of each year. In general, inflation increases about 3% per year, but could be higher for certain expenses such as medical and health. Take stock of the amount you have saved for retirement. This includes your regular savings and your retirement account balance. Consider the amount of years you plan to stay in retirement.
For a pensioner that becomes his first part of post retirement income. Taking into account the plan, as suggested above ,he can plan additional inputs. Unfortunately a very small percentage are covered by regular pension scheme. The others should join the National Pension Scheme that is available to all citizens. Just depending on final GPF and gratuity is not practical as we do not have the discipline to invest properly when large amount comes in hand. A defined % of income while being young has to be saved as a rule. With inflation one will always have to do a catchup exercise to meet your essential needs. Health in old age is one large expenditure that must be provided for through insurance and ready cash.