Pension schemes

[archahmad]

Yes its the same in my country. But here there are two organisations. The government organisation and the private pension organisations. To keep money by your self is not a good idea, you have to choose the best between the two.

 

[Filicit]

Except we want to deceive ourselves, it happens everywhere, pension funds, annuity, savings in banks, etc are invested in the money market usually just that in my country that interest is usually for greedy few

 

[Stylex]

we'll I think there are many types of mention especially 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.

 

[Yusuf]

The government of my country do this a lot. They put pension funds into some sort of high and heavy investment that will yield more money for them. But this is an insider information

 

[Toyoabasi]

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?

I do not think it is the same thing over here.
My father has been receiving pension for many years now, and there never has been a hiccup as a result of such.
Could this happen with the private sector?

 

[Mayox25]

For workers that are on contributory pension scheme that is how it is,their pension fund administrator make use of this money for investment purposes not just keeping the money idle that is how they too make their own money from the yield on this investments.

 

[Toyoabasi]

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.

Is this really possible?
Well, perhaps in some areas of the public sector. While some pensioners receive their pensions, there are others who would be complaining of either delay in payment or no payment at all.

 

[kayode10]

Pension scheme is a good form of savings for those who are working for the government. Pension alone does not guarantee safety when someone retire due to the rise in inflation rate every year. Inflation has the capability to render pension less effective overtime.

 

[HayKay]

It's the same everywhere, funds cannot just be sitting in their accounts, what if there's inflation? They'll then accrue losses.
Besides they have to keep paying you with the interest agreed and that can't be achieved with your funds lying dormant.

 

[tyrim88]

The pension scheme is actually onies paid into a dedcated account for active workers to get at the end of their service years,i my country,there is no mandate to that effect about hedge funds for pension funds.

 

[frederick_9]

In my nation, things are not done that way.
However, I find it really strange to use people's pension funds to launch a business.
What would happen if the company failed and all the investments were lost?
It is better to leave pension funds in the control of their legitimate owners.

 

[Nomad]

In our country, some banks, insurance, and finance companies offer pension plans. In order to access these plans, you will have to regularly save money for a long time and you will be able to receive a monthly pension after the term ends. However, a proper pension plan is offered only by the government. This plan is for those who have worked in government for 20 years

 

[Ja Sa Bong]

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?

There are no 100% guarantees on any investment being profitable all the time. What happens when the funds manager lose in his investment or trading, who will bear the loss? If he makes more money from the investment and trading, who will take the proceeds? Pension money isn't the fund's manager money to use as he pleases.