How Does the Federal Government Remits the Pension Contributions of its Employees into their RSAs?

[HayKay]

Of course there are systems designed for purposes like this. If you check well, you'll see that this pension funds have offices and people in charge. What do you think they do?
They ensure the proper disbursement of these funds of course.

 

[Lens]

In my home country, the federal government remits pension through a ministry. It is the ministry that is saddled with the responsibilities of distributing the pensions.

 

[Ononivami]

I don't really know how it works but I have seen the government holding some organisations responsible for siphoning the funds that was meant to be channelled to the pensioners account.

 

[Bookwormlux]

Being able to keep money in the appropriate place is not something that the government really struggles with, because they are in charge and can decide to do anything they want to do .

 

[Syldan]

Though sometimes it depends on the kind of government in power and the system been adopted. Like in my country there are established institutions that are responsible for all pension of civil servant and all departments of workers. it's such department the dispens all the pension to individuals.

 

[frederick_9]

The only thing I know for sure is that the federal government typically deposits the money it takes out of employee salaries into an account. I really have no idea where they used to keep it.
I'm not sure what they used to call that account, though.

 

[Setho]

A lot of this system is cyclic in nature in such a way that the money is just in a liquidity pool where they just keep on budgeting and circulating it every year and when making a budget.

 

[tyrim88]

First you must come to the understanding that the world is advancing technologically every day. In other words, managing or keeping records of a thousand pensioners is not a big deal for the government to handles. Once you are faithful in paying your pension fees while working then be assured of your pension when retired.

That is a fact,i think the government usually have a pension board that takes care of the issue of contributory pension of its employees which is usually paid at the end of the service period of the employee.