Can a small scale business join contributory pension

[Hades]

Can small scale like sweet sellers biscuit seller and bread plantain tomato and pepper seller join or start or join a contributory pension scheme in your country or does the business need to be on certain level to join a pension scheme

 

[Kayzzy3]

Can small scale like sweet sellers biscuit seller and bread plantain tomato and pepper seller join or start or join a contributory pension scheme in your country or does the business need to be on certain level to join a pension scheme

Yes they can and should most especially in countries where pension scheme works.
This will help to secure the future of both the employees and employers.
Little contributions monthly won't hurt.

 

[Sincerem]

I don't see such kind of stuff of small scale business joining in the pension enrollment. Who will enroll them, first of all?? Is it our government or they will use their own personal business finance?? To finance the pension of their want. At the moment that seems impossible in my country. The only people endorse with pension is the civil servants, and some private companies.

 

[Alexandoy]

In the Philippines a business with 10 or more workers are required to join the pension fund of the Social Security System. For those not required they can still join. For a worker or businessman he can also join as a self-employed status which means he will contribute double the amount for his pension fund. The pension fund contribution is 50% for the worker and 50% for the employer. For the self-employed he contributes 100%.

 

[Abibatabosede]

No matter what you do or how it looks in term of size, you can always join the pension scheme.The scheme doesn't discriminate base on what you do or look at how small or large it is and does not compel you to pay any amount you can not afford.

 

[Sariana23]

If possible, even in my country, they created a banking plan, so that all people who have small businesses and do not have future pension possibilities. They register with any banking agency, pay an initial or in some comfortable way, and then pay the fees, which can be monthly, quarterly and annually. in this way they will have their future pension.

 

[Peterlight]

That's if you are generating more with the petty business, if your income is not upto at least 5-10 weekly, then it is a waste of time.

If you are running a petty business, you can start up a corperative deposit on a daily or weekly basics, it can be really helpful if you are starting small.

 

[Trojan8]

While it's possible, I don't see the need for it because you will be the only one contributing to the fund. So it makes more sense to open a savings account instead and start saving in it instead of bothering about a pension scheme.

 

[GIFTMICHAEL]

Any business whether big or small can join contributory pension scheme. Pension scheme is an organised contributory scheme to enable retiree to see what they can fall back with during old age or better still during incapacitated stage of life. There are many insurance packages for those who wish to join pension PFA. ( Pension fund administration).
Individual who wish to meet up can join pension plan or savings for future use.

 

[Nomad]

I don't think a small scale business can contribute to a pension plan. A small business means it has small capital, and small revenue. When the capital and revenue both are small, how can they contribute to the pension plan. However, in our country, even small business provided Provbident Funds benefits.

 

[Ja Sa Bong]

How is it going to be possible for a small business to contribute to a pension plan for their workers? It doesn't seem like what will work on 100 years or ever because the capital level of small scale business cannot finances a pension plan.