Is it possible to withdraw your pension as one complete sum?

[Dagm1]

Well, I don't believe so; I believe there are established regulations and procedures in this regard, and you can't obtain everything at once. It is paid once a month, and you must travel to the pension office once a year to undergo a physical examination to ensure that you are still alive.

 

[Smiles20]

I have never seen any insurance company that has allowed his members to do something like this. Even if they are going to agree to this the terms and conditions are not going to be in your favour.

 

[ganibade]

It is not possible to withdraw pension at once. Pension would calculate twentyfive percentage areas when you retire,and another twentyfive percentage when you reach Fifty years of ages.

 

[kayode10]

Pension is design to be deducted every month. And you are to receive monthly when you retire. The layout might be too much when the pension are to be paid once. It is pretty much easier to blow away the amount of money that is behind your thinking capacity.

 

[Toyoabasi]

I dont think it's actually possible to get a pension fund in a whole some of money. The least I know Is that they pay pension fund every month by month after retirement of the employee

It might be easier to get all your pensions at once from a private company. When it comes to the public sector, I don't think any government worker can be granted such liberty. The terms are strictly followed, and pensions are paid monthly.

 

[greenie]

I don't think so, i think it's kind of possible if you're not going to collect your pension every month for years you will get a huge sum of money all at once.. but to get your entire pension all at once is not since they don't know your whole life expectancy .

 

[Sotherefore]

You won't be able to withdraw it as you are thinking because In most government the arrangements will just to pay your pension on monthly basis until you died, as long as you don't know when you are dying there is not how you can be able to withdraw it complete at once.

 

[HayKay]

No it's not possible because truth is these companies take time to invest your money deposited into investment and there'll be returns that cannot be gotten once.
So they'll be able to give you returns monthly which would be easier for them.

 

[frederick_9]

I disagree. In my opinion, it is possible to receive a sizable sum of money all at once if you decide not to receive your pension every month for a number of years, but it is not possible to receive your entire pension at once because they do not know your full life expectancy.

 

[Alisco]

Actually is not done that way in my country, you only can get pension ones Avery month ending as a retired civil servant. You only get gratuity ones at a time in some ministries

 

[Setho]

This is something that you must have to have agreed with the person that you want to sign up with but you should put it out the back of your mind that the deal is not going to be very fruitful

 

[tyrim88]

The government will not let you withdraw your pension as one complete sum. But a private pension company can let you do that, depending on their policy and the agreement you have with them.

That is exactly my observation about the issue of pension,the government agencies would not have the priveledge of giving a retiree all his pension benefit when he finally retire compared to a private firm.

 

[Alisco]

It is not possible to withdraw pension at a time. There's a difference between pension and gratuity, pension is received every month ending after retirement. Gratuity is the only amount that is gotten ones at a time after retirement.