Can you have multiple pensions?

[Grant]

Is it possible to have two pensions for one person? Or is it illegal to have more than one? Or is it even possible to have more than one?

I figure it doesn't matter, because as long as you're saving money for yourself, it shouldn't matter. But I am curious, so if you can shed light on that, that would be greatly appreciated.

 

[Setho]

It is not illegal in my country to enroll for more than a single pension cover and you can so that provided you will be paying the monthly payment to the both.

 

[Alexandoy]

If the pension is from an insurance company that you had paid the premium then you can open as many pension plan as you want as long as you can afford. But for the government pension we only have 1 for the government workers and another for the private company workers.

 

[Hojo]

It's not illigal in my country, you can still receive from your contributory pension scheme and also get from the government as a civil servant

 

[Elfinito]

You can have multiple pension through some insurance companies who have pension option.
You save you pension with them and they would pay you some annuity monthly after your retirement

 

[tyrim88]

Pension is the money you keep apart for your future retirement,and it is not actually a bad idae to have multiple scheme apart from the main one being provided by your employer.Yuo can get some from a reputable insurance outfit.

 

[GoldenLady]

It depends on your employer. Most employers only allow one source of pension. You may be able to set up one for yourself, privately if you are financially capable.

 

[Immilash]

Yes that's possible. But it depends on your country. In my country is not illegal to receive a multiple pension. You can receive pensions from different angles.

 

[joy101]

I don't think it can be possible for someone to have multiple pension in one person because I haven't see such, I have only see person received only one pension.

 

[Shigobad2020]

There's nothing bad in having a multiple pension scheme only if you have what it takes to enrol yourself in the scheme, but I have never seen people doing many pension scheme, just one or two.

 

[HayKay]

You can have multiple pension scheme or accounts; it's just like one having different savings accounts. There's no harm in that especially if you have different plans for the pension plans.
Though I'll advise you have with different companies to have better interest on your investment.

 

[Kingstone]

Yeah. It is possible. It is not even illegal at all. It's just like opening an account and keep saving your money there until you are ready to withdraw it. There are many platforms or would I say companies that one can choose to partner with

 

[Dagm1]

Yeah. It is conceivable. It isn't even against the law. It's the same as creating a bank account and depositing funds there until you're ready to withdraw them. There are numerous platforms, or should I say corporations, with which to collaborate.

 

[eLdavis]

Yes it's very possible to have more than one pension, the problem with having multiple pension is that you can easily loose track of what is happening on one or more altogether.

 

[CeeJase]

Is it possible to have two pensions for one person? Or is it illegal to have more than one? Or is it even possible to have more than one?

I figure it doesn't matter, because as long as you're saving money for yourself, it shouldn't matter. But I am curious, so if you can shed light on that, that would be greatly appreciated.

Personally, I don't think that it's possible for you to have more than one pension account that you get paid with if you don't have it illegally set up for you.

 

[Justin]

Unless you set up your own pension plan, I do not think you can have multiple pensions. How can you earn pensions from two companies when you have to spend 15-20 years to be eligible for pension.

 

[Shigobad2020]

Unless you set up your own pension plan, I do not think you can have multiple pensions. How can you earn pensions from two companies when you have to spend 15-20 years to be eligible for pension.

Having set your own personal pension plan is the only way you can have a multiple pension , your employer only allows you to have just one pension fund within the time you are working for them.

 

[Lens]

You could open as many pension plans as much as possible so far you have the financial capability. So, I think it's legal to have multiple pensions because it's your money.

 

[Toyoabasi]

Is it possible to have two pensions for one person? Or is it illegal to have more than one? Or is it even possible to have more than one?

I figure it doesn't matter, because as long as you're saving money for yourself, it shouldn't matter. But I am curious, so if you can shed light on that, that would be greatly appreciated.

I doubt such a thing is possible.
It would even be considered illegal for one person to collect two pensions.
Some people even do 'ghosting' and get pensions under non-existing or ghost names.

 

[YERUS]

Is it possible to have two pensions for one person? Or is it illegal to have more than one? Or is it even possible to have more than one?

I figure it doesn't matter, because as long as you're saving money for yourself, it shouldn't matter. But I am curious, so if you can shed light on that, that would be greatly appreciated.

I have not heard of one with multiple pensions, but i think it is possible to have that.
A person who is very rich can decide to have two pension funds due to reasons best known to him or her.