How does pension fund work in your country

[joy101]

In my country pension fund is been deducted from salary in government section and save it for the employees, then when them retired the government will start paying they as pension.

 

[tyrim88]

How the pension scheme works in my country is that the government make its own part payment while the employees makes the remaining,reason why it is called a contributory pension scheme,and is given at the end of your retireement period.

 

[Setho]

Pension in my country is usually controlled by the Nigerian pension commission. Every civil servant is automatically enrolled for it and there's a particular amount of money you will have to pay at the end of each month.

 

[frederick_9]

Pensions are primarily used for household tasks in my country, where they mostly belong to elderly people who aren't very active. Doing business required spending the majority of the funds on Bill's and groceries.

 

[Setho]

Your pension and how it is going to be arranged is going to be dependent on if you are working with the state government or with the federal government at the end of the day.

 

[tyrim88]

The contributory pension scheme is used in my country, it has been used for many years now, for government deduct the percentage earmarked for pension and transfers such to the pension management companies which are monitored by the government pension management board.

This contribution are meant tonbe invested to yeild profit while it waits for the time the workers retires.

One of the thing that i like about the issue of contributory pension scheme is that the government contributes a certain percentage based on your salary scaale to a scheme,that you will collect at the end of your service,you will be notify regularly about your holdings.