Do private sectors give pension in your country?

[Seun4luv]

No private sector pay pension in my country.money you take out of your pensipn will be considered as income or capital when working out your eligibility for benefit the more you take the more it will affect your entitlement. if you already get means tested tested they could be reduced or stopped if you take a lump sum from your pension pot.

 

[Henrywrites]

They don't pay pensions in my country. Most of these private enterprises don't even have time for what you want to be in the future as what matters to them when you are working for them is to deliver. This is the reason most people over here are always doing all they can to fit into government agencies, so that when they retire, they can have their pensions paid when they retire.

 

[Ebuka Stephen]

Well not all private sectors give pensions in my country, mostly the private company or organization that may give could be people who works in oil companies and even high class private schools. If one do not receive pensions from your private sector you have to plan yourself to save your money for the future.

 

[Henrywrites]

Well not all private sectors give pensions in my country, mostly the private company or organization that may give could be people who works in oil companies and even high class private schools. If one do not receive pensions from your private sector you have to plan yourself to save your money for the future.

I think this depends on how much you earn annually. If you are one of the low income earners, then you will definitely find it difficult to handle the pressure that comes with setting a certain % of your funds aside. This is great for those earning huge salaries to save than another that doesn't earn that much.

 

[singlej007]

Yes, in my country, the government has made it mandatory that any private sector that has a particular number of staff and paying his or her staff up to a particular amount money most have a provision to be paying for pension, that will be deducted from the staff salary and send to the pension company depending the pension company you are want to use, or you as a staff can provide your pension pin if you already have.

 

[Mrs. Rizwan]

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?

No private company in our country Pakistan does not pay pensions after retirement. Only government institutions give pension to their workers after retirement as soon as they complete their jobs for a fixed period. I have seen many people who spend more of their lives completing private jobs and finally company give them a gift to a farewell party and send them home.

 

[Abbas007]

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 am from Pakistan and I can say with great confidence that there is no pension principle in our private sector. If we look at the firm industry, it has been heard to some extent that loans are arranged there but there is no special arrangement for pension.

 

[Meerab]

In my homeland most private companies do not pay pension after retirments but they will compensate you by paying you high sallery.... they pay their esteemed workers off, some amount of money.,here in my country pensions are given only at the government level.

 

[Abibatabosede]

Most private companies don't pay pension in my country.There is different policies ranging from one private to the other. Based on the policies, the decisions can not be thesame. Some pay high salary so they won't have to pay pension.

 

[Farrukh Riaz]

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?

Private sector institutions in Pakistan do not pay pensions. This is the biggest reason why people look for jobs in government agencies. If the private sector also starts giving pensions now, I think a confidence will be restored in the people. But this does not seem to be possible because private companies work only for their own benefit and do not think of others.

 

[Bilal0087]

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?

Yes they give but only certified and well recognised companies pays pension to their employees, while most of the small scale industries or companies does not pay passions to their employees. This is very unfortunate for the private sector job holders.

 

[EMMANUEL]

For private sector employees, contribution made in the Employees Provident Fund (EPF) helps build their retirement corpus. EPF is currently set to earn around 8.55% interest per annum. The contribution you make towards EPF is 12% of your basic salary, and your employer contributes the same amount. Out of the amount your employer gives into EPF, 8.33% goes towards Employees Pension Scheme (EPS), which earns no interest at all.

You can take out the EPF money in a lump sum before you turn 50, because afterwards it can only be taken as pension. As per the rules established by the Employees Provident Fund Organisation (EPFO), the pension will start automatically after you turn 58 years of age.

 

[Adexgrace]

Private sectors don't give pension to their retired workers in my country and I guess that is why most people prefer to work In government secotors so as to benefit from pension when they are off work. Which is not bad decision to make

 

[Zubair]

In Pakistan, we haven't seen any private sector giving pensions to its retirees. And why would they will give them pensions when they give jobs on contact basis. That's why most of the people look towards government sectors to get jobs. Due to which we have very high competition to get Job in our country. But I know in other countries private sectors also pay pensions but we don't have such concept of pension in private sectors yet.

 

[eenya00]

I seriously doubt that private sector gives pension after your Active service with them, even I believe multinationals don't give pension to it's staff after they retire. They could give you gratuity and some other forms of compensations but I seriously doubt that they pay pension.

 

[Eamodu]

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?

In my country, no private sector gives pension. Not any that I know off. Infact, they are the most insensitive people to work with it. They treat their staffs without respect, their salaries package sometimes very poor and not regular. If the salary is good,then get ready to work your life out for every pay,they lay off staff with no warning.

Post automatically merged: Jan 22, 2021

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?

In my country, no private sector gives pension. Not any that I know off. Infact, they are the most insensitive people to work with it. They treat their staffs without respect, their salaries package sometimes very poor and not regular. If the salary is good,then get ready to work your life out for every pay,they lay off staff with no warning.

 

[Adeyoola7]

The Nigeria Social Insurance Trust Fund (NSITF) was established by Decree No. 73 of 1993 to provide enhanced pension scheme to private sector employees. The NSITF took over the assets of the NPF and commenced operations in July 1994. ... It established a uniform pension system for both the public and private sectors

 

[Thosynho]

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?

In my country Nigeria, many private companies or establishments don't have pension plans for their employees except the big private companies. Of course government establishments have pension plans for their employees.

 

[Nicklas22]

In my country country there is nothing like that, you don't get paid pension after retirement in a private company
The advantage of working in a private sector is that the salary are much higher than the public sector
There's no pension for working in the private sector.

 

[Shahid Abbas]

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?

Private sectors do not give a pension in our country, but they give bonuses after retirement, if you work in a good institutions , then you can get some bonuses from private sector after retirement otherwise no chance in this.