Do private sectors give pension in your country?

[Light]

It all depends. If you are a very familiar person that is,you have spent over 20 years in the firm or the organisation, you can receive incentives. The firm cannot pay you every month like government sectors do

 

[HIFSA LAHORI]

I think there are some institutions that give pension but it is called old age benefit. A friend of mine who has this facility told me about it.

 

[Sake]

No you pay for it sometimes the company will take a small percentage of your monthly salary and use that to pay for your pension on a private pension plan. Other than that all they give was a separation pay for working for them for a long time.

 

[WhiteHouse]

I live in Nigeria and most if not all private companies and institution don't pay pension or any gratuity but their pay I mean the salaries is more decent that those working in public sector.

 

[Mawome]

Yes some private companies in my country pays pension especially those companies that are owned by some who are in abroad I mean happening countries where citizens receive their entitlement on monthly basis without stories, I know of some hotels that pays pension monthly.

 

[Sanusi]

Here in Nigeria i can categorically tell you that private sector don't pay pension its only federal government parastatal that pays pension, but one thing a Private sector do in my coy is to pay their worker a better salary its even better than federal government salary.

 

[Rimsha kanwal]

Your State Pension is based on your National Insurance contribution history, and is separate from any of your private pensions.
Any money in or taken from your pension pot may affect your entitlement to some benefits.
It’s your responsibility to tell the Department for Work and Pensions or your local council if you or your partner take any money from your pension pot.

 

[Highflyer]

Here in my country Nigeria, private firms/companies do not pay pension and I think you only get some form of compensation when you retire. Only government agencies, ministries and parastatals pay pension to retirees.

 

[Prettyjanie]

In Nigeria majority of the private firms or organization do not pay pension. What they usually do is when you retire, they pay you a lump sum of money and that is all. If there is any private firm paying, then the amount will be very small. I know someone who retired from a private firm and they pay him monthly pension 7k only till this day.

 

[Jlife]

the government setting in our country is very bad that the private individual working for a private company do not have opportunity to get pension at old age that's why a lot of people are always much interested in working for the government because of the pension.

 

[KvngMurphy]

No!

 

[Chizfab]

I think it varies depending the country you are from. In mine, private companies hardly pay pension but they do give incentives or send off package to those retiring. It only depends on the type of company, some big business tend to pay off the retiring worker very handsomely while others don't. Pension is only paid by public sectors, of which they still own retired and aged workers.

Post automatically merged: Jan 31, 2021

I think it varies depending the country you are from. In mine, private companies hardly pay pension but they do give incentives or send off package to those retiring. It only depends on the type of company, some big business tend to pay off the retiring worker very handsomely while others don't. Pension is only paid by public sectors, of which they still own retired and aged workers.

 

[Abbas ali]

I live in pakistan .
The private sector organisation employees are still being paid Rs 3,600 as minimum pension. The Employees' Old-Age Benefits Institution (EOBI) is a subsidiary of the Ministry of Human Resource Development and deals with the pensions of the retired employees of the private sector organisations and corporations.

 

[Bookwormlux]

Private firms in my country do not really care about the welfare of their workers. They are completely exploitative. Many of their workers leave whenever they find a better paying alternative.

 

[Chibson]

In my country, private companies do not pay pension. In my country government jobs is the best, because nobody is going to sack you and of course when your time of retirement reaches, you will be paid gratuities and pension. Even though, there are few private companies that pay their activities and possibly pensions.

 

[Milz]

Most private firms give pensions to their works in my country. 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 in batches to retired staffs.

 

[Adetayo100]

A very few private company or establishments pay pension in my country, just about 10 percent of the company and the big insdustry do pay pension after service. Only Government workers earn pension after retirement.

 

[Divulgence]

What a nice question. In my country private sector never give pension. Pension is the part money set aside from the basic salary one is entitled to. It is only the public sector in my country that does that. The private sectors that are looking for means to minimise their costs

 

[Nabeel119]

This means: money you take out of your pension will be considered as income or capital when working out your eligibility for benefits - the more you take the more it will affect your entitlement. if you already get means tested benefits they could be reduced or stopped if you take a lump sum from your pension pot.

 

[Sotherefore]

this is one of the reason I don't like the government sitting in my country ,in situation in which someone is working for a private company the person will not have an opportunity for pension and gratuity at old age, I like the Western countries government setting