Pension schemes

[Trexxxy]

Well I'm aware of some countries who have allocated funds for workers as soon as they retire, these funds run into billions of dollars, instead of these funds sitting in a domiciliary account the funds manager for the association takes these funds with the blessings of the stakeholders and invest with investment companies, hedge-funds company, they in turn use the funds to trade and make profits. Is that the same in your country?

 

[Alexandoy]

There are 2 administrators of pensions here, 1 for government employees and another for private company employees. They are both under the strict supervision of the government. Those institutions invest the money that is collected from the members in government bonds and other negotiable instruments. They have an actuarial computation that the funds should last for at least 7 years. So far that 7 years is achieved for now.

 

[Henrywrites]

Over here in Nigeria, it is different from you just stated. You have the chance to look at your pension but you will fight tooth and nail to withdraw it. Pension officers even go to the extent of using pension funds to do personal businesses which we see as evil and uncalled for.

 

[Erik4150]

That is not how it is done in my country. But using people's pension money to start a business is really weird to me. What if the business fails and all the investments go to waste, what will happen next?
Pension funds are better left in the hands of the rightful owners.

 

[Sanusi]

I think this is the reason why pension are not being paid in my country, where retired people will be clamoring or lamenting for the unpaid pension so i think its the main reason why pension are not being paid where as pension should be kept in a domiciliary account.

 

[ansahweh]

Pension schemes are very necessary in giving hope to the working population. We spend our youthfulness to work aggressively so as to make enough money that would take care of our old age so we have to be very careful and choose a reliable pension scheme.

 

[Oliver 20]

The pension scheme conspire is contributory, completely subsidized, secretly oversaw, outsider guardianship of the assets and resources and dependent on individual records. It guarantees that every individual who has worked gets his/her retirement benefits as and when due.

 

[Taimoor Jutt]

This pension scheme is now going to become online where your every documentation will clear even before retirement, so it will be a good innovation. But still this method is nit applied yet. Now for retirement the district level center will apply the money and after documentation you will receive your money at your account.

 

[Sariana23]

In my country, what you have just described in this thread happens with private companies, where amounts discounted to employees are invested, in order to generate large profits. The above is for a period of time stipulated between the interested parties, to then withdraw the investment and pay the liquidation to the employees.

 

[EMMANUEL]

Pension scheme is just a type of savings plan to help you save money for later life. It also has favourable tax treatment compared to other forms of savings.

To my best of knowledge there are three forms of pension scheme.
1. The state pension which are formally paid by the Government.
2. Occupational your pension scheme through work.
3. Private/personal pension scheme.

 

[Samuel77]

Over here in my country many of this happens but it does not happens with government organisation it only happens in private organisations and it is a very bad ideas.

 

[Mostee501]

Yes it is same with my country, in my country some times the even delay workers salaries purposely to enable them generate profits from people's money before paying after a long time of depriving people of their wages.

 

[Victor001]

I wish this is the same in every country,but no,in my country, we actually fight for our right, a country were they see pension as heaven, so they make it difficult for you to get it.

 

[Richard92]

There are different type of pension schemes, government pension schemes and private pension schemes you as an individual how do you choose the pension scheme which you prefer more.

 

[Victor72]

I don't think this money you are talking about is pension I believe this morning you're talking about is gratuity, when a worker retire sometimes the company gives the worker some amount of money which is known as gratuity.

 

[Spicywilfred]

yes of course all these issues goes on in my country but it seems that the government are not aware of all these things that are going on in the country. it is advisable for someone to stand up and speak out for the pensioners, I am not a pensioner so I can't speak for this

 

[Richard92]

yes of course all these issues goes on in my country but it seems that the government are not aware of all these things that are going on in the country. it is advisable for someone to stand up and speak out for the pensioners, I am not a pensioner so I can't speak for this

pension scheme is a very big issue in our country because sometimes people engage in pension scheme and then when it is right time for them to collect such pension if they are not being paid sometimes all for about two to three years before payment.

 

[Bousine123]

No it isn't. In fact I'm my country it's worse than you could ever im

Post automatically merged: Sep 5, 2021

The one in my country is nothing to write about. They pay pensioners money that cannot even be enough for a school child to feed with in a month.

 

[Nurudeen]

I really don't know if the government use pensioners fund to invest before the money will be readily available for them. All I know is that at the end of the civil service they pay pensioners there money

 

[Shigobad2020]

Pension scheme is just a type of savings plan to help you save money for later life. It also has favourable tax treatment compared to other forms of savings.

To my best of knowledge there are three forms of pension scheme.
1. The state pension which are formally paid by the Government.
2. Occupational your pension scheme through work.
3. Private/personal pension scheme.

Pension is a scheme in which people save for their future , state pension and federal government pension scheme are paid by the government after working for a particular time, while occupation pension scheme is when you start keeping some part of your earned money for the future.