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How long does it take your country to pay retirees gratuity??

Sincerem

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We know after retirement their are dividends that comes from it. This one is for those that are bound to receive unending rewards as a privilege for their steadfast working for their beloved country. How long do you think it takes your own country to pay retiree's gratuity??
 
In my country, it depends on the tier of government the intending retiree is working for. But it is a little bit faster if the person is working with the federal level than the state government. Probably like six months, everything is settled.
 
It takes up to two to three years before they can pay retiree gratuity in my country, even most of them die in the process of filling some necessary forms before they are paid, retirees are really suffering in my country.
 
In my country retirees that are lucky get their gratuity between 2 to 5 years, it can even be more than that if there's change of government. Those in private sectors get their gratuity in less than 6 months of their retirement. Retirees are really suffering to get the benefits they worked for in years.
 
To me its takes long in my country, let me just say it's takes about a year due to bad management and administration, the actual money they use as pension i don't know where they deposit it to, where as in other country it's not like that.
 
Upon retirement, an employee can draw a lump sum (by whatever name called) from the balance standing to the credit of his/her RSA provided the balance after the withdrawal could provide an annuity or fund monthly payments that would not be less than 50% of his monthly pay as at the date of his retirement.
 
It depends on a lot of factors and most time it depends on the person in charge or higher. There are government agencies that haven't paid pension in a while, because of embezzlement, as soon as a new person takes over they start to pay outstanding pensions.
 
The government of my country is very incompetent. The welfare of retirees used to be a priority decades ago but not anymore. Nowadays retirees don't get their gratuity at when due, sometimes they die without ever getting their gratuity. It is really terrible.
 
In Nigeria, it depends on the organization, in some organizations, your gratuity gets paid as soon as you retire and you are done with your paper work. Which can be about a month or so, while in some Cases it can last for up to a year.
 
In my country after completing the years of service, in the case of public employees and having delivered the requirements in the retirement application department of the government entity. It does not take more than a year to receive the amount for social benefits (liquidation) and the monthly payment (pension) begins to be collected immediately upon leaving the retirement resolution.
 
in my country It do take a lot of time depending on your position in the government to be paid your pension and gratuity and a lot of people have been waiting for a very long time without getting it and that's a bad reputation for our government because they can't pay these people.
 
My country paying gratuity has always been a mission impossible for them, but some retired worker receive there payment in 5years time or even more.
My pastor was sharing his testimony concerning his retirement schemes that ought to receive the payment every month but he is just receiving it since, for several years from now.
But receiving gratuity for retirement well, it's depends on your post before you retire from office.
 
In Nigeria,it depends on the organization,in some organizations your gratuity gets paid as soon as you retire and you're done with your paper work. Which can be about a month or so,while some do last up to a year.
 
If you mean by retiree's gratuity is the monthly pension it takes at least 10 years here. That is the minimum requirement of contribution by the worker, 120 months or 10 year. But even if you have completed that minimum requirement the other requirement is that you have to be at least 60 years old to avail of the monthly pension. The amount of pension would depend on the amount of your monthly contribution and also the number of months that you have contributed. The present maximum monthly pension is $200.
 
It just depends on the amount you're being paid in your gratuity and the kind of job
In my country when you're working with a bigger company in my country you can receive your gratuity within a year, but you can receive your gratuity for a country when you work in a smaller public sector for 2 or 3 years.
 
It used to be quick payment processing for the retirees in Nigeria but these days I pity what the retirees are going through in the hands of many state governments. Many retirees have died even before they started talking about paying their gratuity. This is what they worked for and it's their right, i wonder why they have to suffer before getting it.
 
Infact this question you asked is a very serious issue in Nigeria where I happened to come from. Imagining someone that has served in public sector for 30 years or its equivalent in age retires and now begin to look for pension, it's saddening; they use almost 3 years before they can get it.
 
We know after retirement their are dividends that comes from it. This one is for those that are bound to receive unending rewards as a privilege for their steadfast working for their beloved country. How long do you think it takes your own country to pay retiree's gratuity??

If you have a pension fund with a private financial institution, it doesn't take up to 10 months for you to start earning pension and getting your gratuity at first. It is very difficult for one to get gratuity early when it is in public funds.
 
This is most thinkable point of any government job holders at any country. It is different in different countries. But at my country it is very balanced, because after retirement, by formality completion like application and other documents , the gratuity is taken. It just takes 6 month or so, but now its updating too much.
Post automatically merged:

This is most thinkable point of any government job holders at any country. It is different in different countries. But at my country it is very balanced, because after retirement, by formality completion like application and other documents , the gratuity is taken. It just takes 6 month or so, but now its updating too much.
 

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