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

[Samuel77]

according to my own point of view, I don't believe it is possible to withdraw your pension in one son because pension is been paid to you every month and it is 50% of your monthly payment you can only receive your gratuity once and for all

 

[btaliat]

In my country, pension is paid monthly. So you may decide not to withdraw all your pension fund from your account and withdraw from it at your own convinient time. However. This can only be done if you have other means of making money.

 

[Ravish]

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[Sidradoll]

Every month when you get your salary there is generally a certain portion that is taken out and that is paid towards your pension fund for when you retire. And this is good and important as it ensures that you have some sort of cash that is stored away from the future when you are not working.

However, the question that I have is - Can you withdraw your pension as one complete sum upon retirement or is it mandatory that it be taken in a month-to-month basis? What id you need more for anyone specific month, can you claim or withdraw more in those months? This is a question that has had me curious for a while and I look forward to seeing your answers.

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[Tinaconcept]

Pension policies vary from company to company, private or public but which ever way your pension will be paid according to the pension providers policy. Some pension are paid monthly while some are paid at lump sum immediately at the end of service. Government sector normally pay monthly

 

[Onachukwu]

If you’ve had more than one job during your working life, it’s likely that you may have paid into more than one defined contribution pension scheme. If you’ve got several different pots, it may be worth combining them as you near the date when you want start to drawing retirement benefits.

 

[Tundeoguns1]

Is it possible to withdraw your pension as one complete sum. That's an awesome question. Well for as we all know pension is a little amount or little portion from your salary which is kept for you by the government until you retire. But you can't withdraw all the pension as one. You might still have to wait before the government pay you .

 

[Dowenship]

Every month when you get your salary there is generally a certain portion that is taken out and that is paid towards your pension fund for when you retire. And this is good and important as it ensures that you have some sort of cash that is stored away from the future when you are not working.

However, the question that I have is - Can you withdraw your pension as one complete sum upon retirement or is it mandatory that it be taken in a month-to-month basis? What id you need more for anyone specific month, can you claim or withdraw more in those months? This is a question that has had me curious for a while and I look forward to seeing your answers.

Depending on the country you live in, like my country it as the maximum you can take per month so you can't just go there and withdraw all the money but the money is for you and its all yours but its just for your own good anyways...

 

[Mostee501]

I don't think any organisation or institutions whether government or private,that pays pension upon retirement engage in giving out pension at once in one sum. Maybe except for some private firms that pay at once upon retirement, but it is not called pension.

 

[Nicklas22]

When you got retired from serving the government you are to be paid your gratuity, that will be paid once, but after that you're going to be receiving your pension at the end of every month and this can't be paid once

 

[Sariana23]

When you got retired from serving the government you are to be paid your gratuity, that will be paid once, but after that you're going to be receiving your pension at the end of every month and this can't be paid once

It is true in my country, and I think it is similar in all countries for government workers. But in the case of private payments, it depends on the contract that is signed as to how you wish to receive the retirement fund, it can be monthly, semi-annually, annually or in two or three parts.

 

[Shigobad2020]

Every month when you get your salary there is generally a certain portion that is taken out and that is paid towards your pension fund for when you retire. And this is good and important as it ensures that you have some sort of cash that is stored away from the future when you are not working.

However, the question that I have is - Can you withdraw your pension as one complete sum upon retirement or is it mandatory that it be taken in a month-to-month basis? What id you need more for anyone specific month, can you claim or withdraw more in those months? This is a question that has had me curious for a while and I look forward to seeing your answers.

Yes it is possible to withdraw your pension as one complete , taking or withdrawing your pension monthly or once depend on the owner of the money and what you wanted to use it for, if you want to invest for the future , you can take it all, but if you just want to be spending it on food and your upkeep,mits adviseable to be withdrawing monthly.

 

[Nomad]

I am not sure but I think we have that option here. You can withdraw your total pension sum. However, I believe this option is available only for the people retired from government positions.

 

[FreshKaz11]

Every month when you get your salary there is generally a certain portion that is taken out and that is paid towards your pension fund for when you retire. And this is good and important as it ensures that you have some sort of cash that is stored away from the future when you are not working.

However, the question that I have is - Can you withdraw your pension as one complete sum upon retirement or is it mandatory that it be taken in a month-to-month basis? What id you need more for anyone specific month, can you claim or withdraw more in those months? This is a question that has had me curious for a while and I look forward to seeing your answers.

Depends on the country you are living and expecting to get your pension from,so as for my country you could only get all pension money paid to you if you have some kind of connection I guess.

 

[Josephjossy]

I think it depends on the company policy, it is possible in some countries or companies. But it my country I don't think it is possible to do such a thing. But in some countries I think it is possible to do so depending on the company policy d country policy

 

[Kelly5]

Pension withdrawal or access in some countries can only be possible after ones retirement. So it might not be possible to be withdrawing it while not retired yet

 

[Dowenship]

Every month when you get your salary there is generally a certain portion that is taken out and that is paid towards your pension fund for when you retire. And this is good and important as it ensures that you have some sort of cash that is stored away from the future when you are not working.

However, the question that I have is - Can you withdraw your pension as one complete sum upon retirement or is it mandatory that it be taken in a month-to-month basis? What id you need more for anyone specific month, can you claim or withdraw more in those months? This is a question that has had me curious for a while and I look forward to seeing your answers.

Hmm... can a pensioner really withdraw his or her pension as one complete sum after retirement.... I don't think its possible... but there will be limit amount the person can withdraw

 

[Victor001]

It's dependent on the company and you, but in government firm it is not practiced, you are being paid your money on a monthly based,how they came up with such assertion can't be defined.

 

[Victor72]

No it is never possible for you to withdraw your pension at one complete sum you can only receive it every month till you die, it is only possible for you to withdraw your gratuity at one complete sum

 

[Richard92]

No, it is not possible for you to withdraw your pension I one whole sum, because the pension it's been remitted weekly sometimes monthly by the government or the state, with this you cannot be able to withdraw a pension in one whole sum.