Is it possible to take out two pension funds?

[Sincerem]

It will provide them with a double benefit and allow them to live a much better lifestyle, however i think that based on much of the comments here in this topic that many countries do not allow them to have multiple pension funds and therefore this would prevent them from achieving such.

Hmm, I don't think their is any law stopping one from having multiple pension scheme. Provided it is not from same organization you're free here in my country.

 

[BrolySSJ]

Hmm, I don't think their is any law stopping one from having multiple pension scheme. Provided it is not from same organization you're free here in my country.

This is very good to know because it was my impression that a pension fund is actually under your government name and therefore it does not depend on the company but rather on the person itself and if they move to a new company they would just deposit into their pension fund from there.

 

[akinlolu99]

There are no limitations on the quantity of various annuity conspires that you can have a place with, in spite of the fact that there are limits on the aggregate sums that can be contributed across all plans every year, in case you're to get charge alleviation on commitments. ... Most close to home benefits are adaptable and convenient.

 

[Sincerem]

This is very good to know because it was my impression that a pension fund is actually under your government name and therefore it does not depend on the company but rather on the person itself and if they move to a new company they would just deposit into their pension fund from there.

Yeah, you can have separate pension scheme, the government type is one, and the private type. The government is the well-known option cos you don't have to spend anything to merit it, it simply gift of devoting your time to work for government.

 

[Bousine123]

Then it depends on your country, in some country and sectors In the economy it's not allowed, but some actually Allow their workers to.

 

[Kelly5]

It is not possible to be taking out two pension from the government at the same time, be it state or local or federal government. But it is very possible to takeout pension when one is from the private sector and another is from the government

 

[Mayox25]

I don't think it is possible now. Though those who merge their service in the 1970s from the state to federal government had the opportunity to collect pension from both but it is not applicable again.

 

[Hojo]

It's a nice question though but I don't think it's possible to get double paid for pension , and I don't think you will be admitted to work for the government after retiring from service

 

[Stylex]

At the end of the day when it comes to pension the money that is being paid out to you is the money that you have put in, in the first place. If you are looking at it from a company perspective, there is a certain amount that is taken out of your salary every month and is added to your pension fund. However, the question that I have is - can a person choose to take out more than one pension fund?

Is there any law against doing such? I myself have never seen this happen however I have read cases where someone has taken out an individual pension fund for themselves and a family pension fund as well. Is this allowed?

well ,it is very possible to take a two pension funds ,but only if you have a site job ,I think the only way to have a two pension funds is when you have a site business or job, that's when you will have a two pension funds

 

[harrypaul]

In the case where the family or next of kind doesn't have the need qualifications to claim the pension then I think the employer can still take it back

 

[Toyoabasi]

At the end of the day when it comes to pension the money that is being paid out to you is the money that you have put in, in the first place. If you are looking at it from a company perspective, there is a certain amount that is taken out of your salary every month and is added to your pension fund. However, the question that I have is - can a person choose to take out more than one pension fund?

Is there any law against doing such? I myself have never seen this happen however I have read cases where someone has taken out an individual pension fund for themselves and a family pension fund as well. Is this allowed?

Well, these days people are into more than one pension schemes.
They can partake in the one run by their company, the one run by a group of friends or the one run by family members. If that is the case, then it is okay to take out more than one pension. It all lies on the individual's pocket.

 

[greenie]

Someone can not take out two pension fund at a time because I believe the second pension fund can't come in the person name and that juts it. This can happen in cases whereby the second owner of the pension fund is dead and the person withdrawing the fund is the next of kin to the owner of the pension fund from there he or she can take two funds at a time

 

[Smiles20]

I do not think anybody is going to stop you from having more than one pension scheme but then why are you even going to be doing that in the first place. In so many instances having one insurance cover is always enough.

 

[Dagm1]

Normally, the government pays a monthly pension. Every month, it is typically distributed by the government sector. In my country, it is required to receive pensions on a monthly basis; however, I have never heard of anyone taking more than two months' pension, therefore I do not believe this is the case.

 

[Setho]

If you want to invest in more than one pension scheme I do not think anybody is going to stop you from doing that. The most important thing is that you should make sure you are even financially equipped to handle it.

 

[Muhammad Irfan **]

Yes, but it's depends on the law in my country meant people take two time pension from different department of government in many countries there is rules against

 

[HayKay]

I think it'll be possible because I can open multiple accounts with different companies or banks; why can't I do same with different providers.
I don't think anyone would stand against it.

 

[tyrim88]

I think i understand where you are going,the person that is involved having his statutory pension scheme from the government or private firm,can decide to do a seperate pension sheme for his family,that would be on a seperate arrangement.

 

[Setho]

You're probably going to be taking home a very little amount of money at the end of the day to make this actualizable but if you think that it is something that you can do then it is possible .

 

[Robust]

Well in a country or organisation were corruption has take over the rules and policies of pensions, there is a high possibility of one person earning from two pension funds.