Do private sectors give pension in your country?

[Naz Noshin]

Government institutions /companies offer pension to their members but I am not sure if private companies also give pension to their workers.

WHAT IS THE SITUATION IN YOUR COUNTRY?
Do private sectors give pension in your country?

 

[Niftyyem]

In my country private firms indirectly give pensions. They do this by setting apart a percentage of your monthly income as pension with financial institutions that deal with such. The funds are released to you at a certain age of retirement and I think there is a way to even get some of the funds before retirement but with evidence of losing one's job.

 

[Nurudeen]

I'm in Nigeria and I can confidently tell you that private companies don't pay pension to their workers after many years of service. The only advantage there is that they pay high salary than government job that pay pension

 

[Hades]

Yep certain private companies in Nigeria force there employees to take part in contributory pension with financial institution like sigma pal and the likes

 

[Setho]

My country is still a backward state and many things still haven't come in place. The private sector unlike the public doesnt automatically enroll one pensions so if you want one you have to plan it with another private company or yourself.

 

[Tayyabah]

Government institutions /companies offer pension to their members but I am not sure if private companies also give pension to their workers.

WHAT IS THE SITUATION IN YOUR COUNTRY?
Do private sectors give pension in your country?

Well if we talk to our homeland country,private sector do not gives pension to their employees.

 

[vest1992]

I actually don t know, I know I have paid almost 5000 euros for private pension while I was studying and working in Denmark for almost five years, but here in Romania I didnt check.

 

[Ralphjoe]

In my country Nigeria, Most private company do not pay pension but they will compensate you by paying you high.
It's some few Big private companies that pay pension through pension companies.

 

[Presido]

Private sector give pension? Not in my country, not even in Africa. They might go bankrupt after some while. So its wise for the private sectors not to give pension

 

[Peterlight]

Recently the federal government of Nigeria forced the private sectors to be paying their workers pension because of the complain of reduction of salaries and wages payed by the private companies.

 

[Sariana23]

In my country they do not grant pensions in private companies. Upon retirement, the person receives a substantial payment, which depends on the employee's salary. With this liquidation with good management you can start a business or make an investment and earn from it.

 

[Nma]

In my country private firms and companies don't pay pensions to their workers when they retire.... it's only the government that those and most times the government owes the pensioneers for months.... Anyone who is thinking of retirement in my country shouldn't even depend on pension because he will end up frustrated... it's advisable that he finds other streams of income

 

[Dubai]

In Nigeria, private sectors do not offer pension to their employees. It is the government workers that get pension after they must have retired. Private employees get gratuity and severance packages after retirement.

 

[Seun4luv]

In my country private sector don't give pension at all unlike the public work do. Public work gives pension to their people but private does not. I like working in the public sector so that I can have or entitle to pension.

 

[Sincerem]

Government institutions /companies offer pension to their members but I am not sure if private companies also give pension to their workers.

WHAT IS THE SITUATION IN YOUR COUNTRY?
Do private sectors give pension in your country?

I never heard of that one in my country. But I know too well that they pay their esteemed workers off, with some huge amount of money. The ones I know that gives pension salaries is the public sector, being the government of the country.

 

[Afeefah]

Most private companies in my country don't give pensions to their workers, but they pay higher. The best thing about working with private companies is that by getting a higher pay you can take care of your basic needs while saving a percentage of your salary for investments on other side businesses.

 

[Favour67]

Yes, some of them gives pension and most of them don't pay pension but they give gratuity to their retired staff, for example IBTC in Nigeria pays pension.

 

[Dylinks]

Here we need to different between gratuity and pension.

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Gratuity is a lump sum of money given to a staff to have served to a particular age or length in service as the case maybe in some private company WHILE Pension is a contributory plan between employee and employer in both private and government conducted by pension managers.

Now to the question, hardly will you see private companies paying ex-staff monthly pension from their books of account. The most pension payment is from pension administrator to pension account holder in bits not company paying ex-staff.

 

[alberello75]

Well, in my country Italy, in the last thirty years, there have been many changes regarding pension reforms.
Therefore, even for civil servants / municipal, seemed mandatory at least until the 2000s, to have worked at least 40 years, or to "go out" with a minimum of 65 years of age.
This was probably true also in the private sector (which today covers 90% of jobs here!).
But today everything seems different again after the "Elsa Fornero" reform of 2011!
However, in Italy, these rules about pensions change too often, so sometimes results difficult to understand them.

 

[Alexandoy]

Under the law the worker who has spent 10 years in the company deserved 1/2 month of salary for every year of service. A worker with 12 years of tenure will get 6 months of his salary for retirement. But private companies give more. The standard is 1 month salary if the worker spent 10 years up to 19 years. For 20 years or more of service they would be given 2 months salary for every year. My wife will get 66 months of salary when she retires 2 years from now with 33 years of service.