What are the conditions for Pension?

[Peterlight]

In my country, it is quite different cos both government an private sectors are been force to pay pension to their loyal workers.

The government recently put into law that the private sector should make sure they compensate their workers or open up a pension plan for them.

 

[Damismiling]

Here in Nigeria, before you are entitled to pension, you must have worked for complete 35years, you must not resign, you must work dilligently until you are due for retirement, you must have maintained va proven and good record while still in service

 

[Abibatabosede]

There are set rules and conditions for a person to qualify for pension.
For instance if it in government organization every civil servants must work for a period of thirty five years or work up to age of sixty years.

 

[Richard92]

Every organization has different condition for pension be it a government own or private own. According to the Nigerian army pension scheme, if you have worked for 15years you have the right to apply for pension and you will be retired with pension been paid. Every business organization have their own pension scheme and it varies according to the organization.

 

[Donkiz]

In my country, for you to be qualified for pension, you must have worked and retired from a government agency or a blue-chip private sector. For the government agency you retire when you have worked for 35 years or you have reached retirement age of 65 years. While in the private sector, you qualify for pension if you have pension fund account and have been part of the compulsory pension contribution which both you and your employer makes monthly payment to.

 

[Erik4150]

In my country you must be 60 years and above and you must have worked and completed your service before you can qualify for pension funds. Anybody below 60 years of age is not eligible to receive pension funds.

 

[Damscooguns73]

The civil servant in the government sector has to serve the government in his/her work faithfully for a stipulated period of time(minimum of 5/7) years before receiving a pension but it seems that the government have not been faithful to paying retired civil servants their pension in Nigeria or probably the system is too slow

 

[btaliat]

It depends on the law in your country. In Nigeria, the must must have served for 35 years or clock 60 years in service. He must have deligently and faithfully served the government at either state or federal level without any criminal record during his service.

 

[WhiteHouse]

There must have been an agreement about pension or not immediately you were given the job and all the specified terms and conditions that will eligible you would have been stated their.
The Conditions and Terms for pension vary vastly from institution to institution.

 

[chicnthin]

Here in my country both government and private employees can receive their pensiomn once they retire. Even those who doesn't have a job can pay their contributions on their own. All they have to do is complete 120 months of contributions and they can get their pension if they're 60.

 

[Highflyer]

The law on workplace pensions has changed. Under the Pensions Act 2008, workplace pensions have become 'opt-out' rather than 'opt-in', which means most employees are automatically enrolled into a pension provided by their employer. The law also requires employers to pay into their employees' pension schemes.

 

[Samuel77]

The condition for pension here in my country, are first of all you must be a retiree, and you must have work for the organization for a long period of time at least thirty-five years, and you should not have any bad record. And as for the private organization you must be a good worker and you must have good record and still you most have work with the organization for at least thirty-five years

 

[Sammyesx]

I think different companies have different conditions for their pension scheme, but the general term used globally is that the pensioner must work till the retirement age stipulated by the company or organization which may vary from one organization to the other.

 

[Klashlly]

Condition for pension
The Act did not stipulate any retirement age. It depends on each employee's terms and conditions of employment

 

[Oliver 20]

you are either fully vested or not vested at all; there is no partial vesting in Retirement Benefits. Once you are vested, you will be eligible to receive a Retirement Benefit as long as you are age 52 or older. You will need to apply for Retirement Benefits with the Pension Plan.

 

[HIFSA LAHORI]

Yes i am from pakistan too I have the same information.

 

[Sanusi]

Its the same in Nigeria i think they follow the same process, here too if you can't work for any government parastatal you will not receive any pension and also he would have completed his or her service year, you can't receive any pension if you don't fall into that category.

 

[Sariana23]

In my country, for you to be qualified for pension, you must have worked and retired from a government agency or a blue-chip private sector. For the government agency you retire when you have worked for 35 years or you have reached retirement age of 65 years. While in the private sector, you qualify for pension if you have pension fund account and have been part of the compulsory pension contribution which both you and your employer makes monthly payment to.

Excellent answer, I mean you wrote it with the correct details as it works in my country, I understand that not in all countries it is the same, but in this case both countries work equally for the welfare of retirees, both for government agencies and private companies.

 

[Nicklas22]

In my country for you to be a pensioner, you have to work with the government for 35 years and after your retirement, you will will paid monthly a specific amount until you stop breathing

 

[Josemendez]

This is also the conditions for getting pension in my country. Strict adherence to completion of service year is implemented in my country. Pensioners in most cases are paid after few months from retirement