Is it worth it to have a private pension and a public one?

[Victor001]

We only talk about how beneficial it will be,but we don't consider the possibility of having both, the implications and how it will detriment our general performance.

 

[Spicywilfred]

It all depend on how financially standard you are but I think it's wise for you to have a private pension and also a public pension because this will make you more financially standard after retirement

 

[Richard92]

Okay this is the first time i heard about having both private and government pension i didn't know that wss possible because i haven't seen or know anyone that has both. But if that's possible then it is surely worth it you get to collect double pension monthly. By having two maybe having other sources of income is not necessary anymore you can already survive with that.

Yes I agree with you that both private and government pension are very important to a worker or an individual but it all depends you working with the private companies you get to private pension and working with the government you have a government pension.

 

[Trexxxy]

If you are financially capable of subscribing to both, I don't see why not. I think private pensions are more reliable than public ones, in my opinion.

 

[Richard92]

Okay this is the first time i heard about having both private and government pension i didn't know that wss possible because i haven't seen or know anyone that has both. But if that's possible then it is surely worth it you get to collect double pension monthly. By having two maybe having other sources of income is not necessary anymore you can already survive with that.

it was to have a private pension at the public pension it is an added advantage for the worker and this help him to generate more funds as a pensioner.

Post automatically merged: Jun 11, 2021

Here's the definition of a private pension. A private pension is a plan into which individuals contribute from their earnings, which then will pay them a private pension after retirement. It is an alternative to the state pension. Usually individuals invest funds into saving schemes or mutual funds, run by insurance companies. Often private pensions are also run by the employer and are called occupational pensions. The contributions into private pension schemes are usually tax-deductible. This is similar to the regular pension.

Yes it worth it to have a private pension on a public pension if you are opportunity to work in both firm, for instance a lawyer who is working in both public firm and also advocating for a private firm can get both public and private pension.

 

[Ruth]

For me I believe it's safer to go for the public pension because for a private pension they could run into financial losses and you lose your pension as well. For public pension even when they lose money, they get another means to pay because they're the government, they always have a means to earn money

 

[Richard92]

Here's the definition of a private pension. A private pension is a plan into which individuals contribute from their earnings, which then will pay them a private pension after retirement. It is an alternative to the state pension. Usually individuals invest funds into saving schemes or mutual funds, run by insurance companies. Often private pensions are also run by the employer and are called occupational pensions. The contributions into private pension schemes are usually tax-deductible. This is similar to the regular pension.

Yes it works to have a private pension and a public pension at least that is an advantage to the owner of the pension because he or she will have lots of money at the end of the day.

 

[Nomad]

In my home country public enterprise (state owned agencies) provide better pension plan compared to the private institutions. Your spouse will receive pension even after your death

 

[Bousine123]

Depending on the country you are, it really doesn't matter. So long you have both plans separately, you can freely benefit from them both.

 

[Dagm1]

if you are actually capable to pay for all of them each, after that why certainly not, you will not be actually shedding everything since you will obtain rather than a typical pension plan, a increased one as well as protect your after task lifestyle as well as reside it more pleased

 

[Ub40]

I think different individual will have different view on this issue as there are some that will do both and others who will go for only the public one. Personally, I will have gone for only the public one if not that in some countries pensioners are paid peanuts which may warrant the addition of private pension. It is just my opinion.

 

[Stylex]

Majority of private organization do not have a pension plan for
their employees and I think that's more reason they pay them
higher than government employment sometimes. Even as a
private organization it is always humane to have a sustainable
and after service plans for your employees. This shows that
you care about their life. You may enter into an agreement
with them to be deducting certain amount from their salary
monthly and keep for their retirement

 

[Yusuf]

If you are already in the public sector the government will automatically open a pension fund account for you and I don't think there is any need to open a private one again

 

[tyrim88]

Yes of course but this is possible in a situation where the person worked or is working in both the private sector and public sector therefore at the end of his or service year will receive pension from both public company and private company.

There is a good idea of putting out a pension scheme for your retirement benefits in addition to what you will be getting from the publick sector after retirement.It will go a long way to shure up your retirement package when your finally retire.

 

[Kelly5]

You would be entitled to a public pension if you have served and retired in the public service. So likewise if you have also served in the private sector, you would also be entitled to your pensions from the private sector as well at the same time

 

[Kunkun]

Well it's good if one is able to pull it off but what would really matter is the funds in question because how much you earn would determine to a great extent if that can be done and successfully too

 

[Alexandoy]

You would be entitled to a public pension if you have served and retired in the public service. So likewise if you have also served in the private sector, you would also be entitled to your pensions from the private sector as well at the same time

My brother-in-law is already qualified for a pension in the government because he had served for more than 20 years. But his stint in the private sector still lacks 4 years so he is now paying the monthly contribution as a self-employed to qualify him for the pension. That means he will have 2 pensions when he retires 3 years from now.

 

[Riciakenosha]

No I don't think it is maybe if you have clearance that is if you won't be suspected as fraudulent

 

[Chibson]

of course having a private pension at the public pension is worth it because you will definitely be earning good amount of money when you retire but it depends on your country of residence.

 

[Richard92]

Here's the definition of a private pension. A private pension is a plan into which individuals contribute from their earnings, which then will pay them a private pension after retirement. It is an alternative to the state pension. Usually individuals invest funds into saving schemes or mutual funds, run by insurance companies. Often private pensions are also run by the employer and are called occupational pensions. The contributions into private pension schemes are usually tax-deductible. This is similar to the regular pension.

Yes it is possible and it is wise to have both private and public pensions with this you have enough savings for yourself and you will not have anything to worry about after retirement