Can the government make pension schemes a must.

[Tariq Nazir]

Of course government can pass a law that will make it compulsory for every worker to have a pension scheme like some other people have said in my country Nigeria your pension is being deducted on a monthly basis from your salary if you are a civil servant or working in some private companies.. Although some private organizations are being to enforce pension too.

 

[Folaham]

Do you think the government can pass a law stating that any company or establishment that meets a certain industry standard must create pension schemes for their employees who are going to work with them for say a minimum of 10years. Do you think that is feasible. I think what the private companies will do is to just sack their employees before they reach that time period. Perhaps it is possible for the government to make sure that all companies have a compulsory pension schemes for their workers???.

The law is in place but implementation is the issue with most establishment. Standard organizations have keyed into this arrangement for a very long time. I have been enrolled under my pension fund administrator PFA as far back as when I started work in 2009 till date. But some organizations are not complying in full out of ignorant or lack of follow up mechanism in the part of the government

 

[kayode10]

Do you think the government can pass a law stating that any company or establishment that meets a certain industry standard must create pension schemes for their employees who are going to work with them for say a minimum of 10years. Do you think that is feasible. I think what the private companies will do is to just sack their employees before they reach that time period. Perhaps it is possible for the government to make sure that all companies have a compulsory pension schemes for their workers???.

I think a policy like that can not come to reality in my country. The reason is that there are high level of unemployment in my country and private company are taking advantage of this situation. They pay less in salary and cheat workers on their rights. Therefore, if government make it compulsory for every company to start a pension scheme, those private companies will device a new way to escape.

 

[Tinaconcept]

Yes of course government has made the policy of workers pension avaible in some country even in this part of our country just that some private sectors try their possible best to avoid the staff pension scheme its now left for the employee to decide either to continue in such firm or not

 

[Donolatunji]

In recent times, pensions as a form of social insurance against old-age poverty and other uncertainties have attracted significant interest almost everywhere in the world, both in developed and developing countries. Pension programs, especially those funded and implemented publicly, have become a matter of concern for economists, politicians and the general public.

 

[Ebensco]

In some countries, pension scheme is a must. The government and employers pay some percent of the employee wages into this institution that handles pension scheme to help the workers settle after their years of service

 

[Adventurer]

Do you think the government can pass a law stating that any company or establishment that meets a certain industry standard must create pension schemes for their employees who are going to work with them for say a minimum of 10years. Do you think that is feasible. I think what the private companies will do is to just sack their employees before they reach that time period. Perhaps it is possible for the government to make sure that all companies have a compulsory pension schemes for their workers???.

Yes it is, in my country, the government made it compulsory for all staff to be on a pension scheme, I love the initiative at least you'll have some money to spend after retirement instead of being stranded, though not all private organizations comply with the directive.

 

[Onachukwu]

Unlike other ways of saving, a workplace pension means you aren’t the only one putting money in. Your employer has to contribute too, as long as you earn over £6,240 a year.

You will also get a contribution from the government in the form of tax relief. This means some of your money that would have gone to the government as income tax, goes into your workplace pension instead.

 

[Debola]

It makes it compulsory for employers to automatically enrol their eligible workers into a pension scheme. ... Automatic enrolment was phased in from 2012, starting with the largest UK employers. All eligible workers should have been automatically enrolled in their employer's workplace pension scheme by 1 February 2018.

 

[Diamond07]

Do you think the government can pass a law stating that any company or establishment that meets a certain industry standard must create pension schemes for their employees who are going to work with them for say a minimum of 10years. Do you think that is feasible. I think what the private companies will do is to just sack their employees before they reach that time period. Perhaps it is possible for the government to make sure that all companies have a compulsory pension schemes for their workers???.

If such law can be passed it will be of great advantage. People working in private sectors, do not enjoy benefits of pension funds. They work tirelessly for a company or organisation but there's nothing much to show for it.

 

[IamDozzy]

In my country, it's complusory for all government workers to be on the national pension scheme. However, for the private business an organization, it's the perogative of the employee to either be on a pension scheme or not. Some private companies do mandate their staffs to be on a pension scheme. Being on a pension scheme as a worker is very much encouragable.

 

[Waqas wajid]

I think it is important that the government pays its workers a pension later in the year after they have been employed so that they can continue their business. It is important that the government pays its workers. The only benefit of a government job is that the employee gets a good amount of money in the end so that he can live a comfortable life.

 

[Ykddgreat]

In my own view ,I think what government can do is to make it compulsory for all private organisations to make a pension scheme for their employees, maybe after two years of employment. Any standard organisations will find it difficult to be sacking and employing workers every 1 year or less than 2 years, and with that it will be a benefit thing for both side

 

[Kunkun]

In simple terms, a pension scheme is only a sort of investment funds intend to help you set aside cash for later life. It additionally has ideal expense treatment contrasted with different types of investment funds. There are a few sorts of annuity plans. Some might be controlled by your manager, others you can set up without help from anyone else

 

[sam386150]

By right government suppose to make pension scheme compulsory, because it is not an easy task to labour for many years and go empty handed, many people died during service so the survivor ones comment supposed make pension a compulsory.

 

[Jumoke12]

Do you think the government can pass a law stating that any company or establishment that meets a certain industry standard must create pension schemes for their employees who are going to work with them for say a minimum of 10years. Do you think that is feasible. I think what the private companies will do is to just sack their employees before they reach that time period. Perhaps it is possible for the government to make sure that all companies have a compulsory pension schemes for their workers???.

The best thing the government should have done is making proper arrangements for the pension of their retirees. people are suffering after working for government and they are not being paid their pension and gratuity. this is sad

 

[Umerfarooq]

Unlike other savings methods, a workplace pension means you can't put money in just one amount. As long as you earn ، 6,240 a year, your employer has to contribute.

In case of tax relief you will also get contribution from the government. This means that some of your money that went to the government as income tax, instead of going to your workplace pension

 

[BTCBEE]

Of course government can pass a law that will make it compulsory for every worker to have a pension scheme like some other people have said in my country Nigeria your pension is being deducted on a monthly basis from your salary if you are a civil servant or working in some private companies.. Although some private organizations are being to enforce pension too.

yes you said well and its compulsory because government take fund from government worker and when they take retirement or they complete thier age of working government pay them pension and many country has this law and applied already

 

[tuna89]

Any responsible Government should be able to make pensions compulsory for both public and private parastatals, such laws would improve the motivation of employees and lead to growth of organizations, not only pensions but other packages can as well be introduced with the aim of reducing the poverty rate of the economy.

 

[Pauljonnes1000]

It is not a.must that the government mandate the pension scheme for the workers. However, it is not as benefial in Nigeria because the government is not encouraging scheme like this.