What are the main objective of pension scheme

[Hades]

Have been asking this question no one seems to have the right answer to the question whats the main objective of pension scheme why are people paid pension are they really Worth the pension or the government is just dashing them money

 

[Erik4150]

Pension is important because a time will come when you will get old and can no longer keep up with pressures of 9-5 jobs. Then the government will start paying you, pension is the benefits for all the years you spent working.Without pension, people will have to work till they die and that is not possible.

 

[kaychiz]

A pension scheme is one of the benefits of working for the government/organization for a long while. The government is not dashing them money. Actually half of the pension fund is contributed by the workers while the government/organization provides the other half.

Its a scheme intended to help subsidize the financial needs of an employee after working for years.

 

[Donkiz]

Have been asking this question no one seems to have the right answer to the question whats the main objective of pension scheme why are people paid pension are they really Worth the pension or the government is just dashing them money

As a worker, part of your monthly salary is deducted as part of your compulsory pension contribution, while your employer also contributes to your pension account on monthly basis too. So the money that you are being paid monthly as pension when you retire is not solely government or your employer's money, a huge part of it was deducted from your salary.

 

[Sincerem]

Have been asking this question no one seems to have the right answer to the question whats the main objective of pension scheme why are people paid pension are they really Worth the pension or the government is just dashing them money

Government is not dashing any one of the civil service workers money. They earned for it, dedicating your entire youthful career to work for your country is not an easy job. Even the government personnel's earn pension too. Pension is simply a reward package for those civil workers for their dedication in service.

 

[Dubai]

The main objectives of pension schemes is to cater for employees that have retired from active service after a long time in the organization. It provides a means of sustenance to the pensioners.

 

[MRizwan530]

Have been asking this question no one seems to have the right answer to the question whats the main objective of pension scheme why are people paid pension are they really Worth the pension or the government is just dashing them money

A pension is given to a person to support him in old age Because if a person has been working for a government agency in his youth, then the government has the right to take care of him in his old age, for which the government gives him a pension.

 

[Oscar]

No, the government does
not give them free money. The money paid to them is the accumulation of a part of their monthly income when they were still active in service. When they retire and are not able to work again, this pension are then paid to sustain them.

 

[Nimra Saeed]

Have been asking this question no one seems to have the right answer to the question whats the main objective of pension scheme why are people paid pension are they really Worth the pension or the government is just dashing them money

The main objectives of pension scheme are to enrich the government sector employee.It is basically done to support the enlisted person and its family financially so that they can survive

 

[WhiteHouse]

The principle advantages of pension plans are that the commitments into the arrangement are charge calmed and the speculation picks up move up tax exempt. It is just when the annuity comes to be paid that assessment is payable by the beneficiary of the pension. Another component of a pension plan, be it a word related annuity conspire or an individual annuity plan is the way that a part can't get to the cash in the benefits until they arrive at the age specified in the specific arrangement.

Advantages are payable as per the principles of the specific arrangement. Regularly the part has various alternatives (for example to take an extent of the assets tax exempt and buy an annuity with the rest of to move the cash to an affirmed retirement store).

The advantage of an annuity is that it gives you cash when for reasons old enough or sick - wellbeing you can presently don't work. You may likewise have the option to make arrangement under your benefits for your mate and dependants, should you predecease them.

 

[Bookwormlux]

The government pays pension as a way of expressing gratitude to the employee for serving them for that lenghty period. The pension in turn helps the retired employees to be able to sustain themselves and even start up a business.

 

[Kinglegend01]

Have been asking this question no one seems to have the right answer to the question whats the main objective of pension scheme why are people paid pension are they really Worth the pension or the government is just dashing them money

The main objective of the pension scheme I think is to provide and cater for old and retired staffs who has spent their youthful time and energy in working and serving the state.The pension money is meant to helps the retired employees to be able to sustain themselves, take care of their Bills and even start up a business.

 

[Seun4luv]

The objective are occupational pension funds must grow to ensure that they can afford their current and future obligations to workers. As a result, pension funds make significant investments in a variety of asset classes to ensure both growth and stability.

 

[Abibatabosede]

The significance or importance of pension scheme is to help the workers to still live and survive when they have become weak and unable to work to fend for their needs,they at least have a helper either a dash or a Worth

 

[Alexandoy]

In our country the pension plan for workers is mandated by law. There is the SSS (Social Security System) that handles the pension plan of the private company workers and the GSIS (Governments Service Insurance System) for workers in the government. Both institutions are under the supervision of the government. The aim of the pension plan is to provide workers with a pension when they retire at age 60.

 

[Sariana23]

The main objective of the pension is to maintain a monthly salary, to which he was employed in the service of the government for many years. When they complete the age or years of service that correspond to their retirement since at that time they do not have the same strength to get a new job and to part that they do not get due to age.

 

[gammarays]

Pension and gratuity is very good for public workers. It's done in such a way to extract money earned during their active days. These funds are saved with interest and accumulated till they retire and enter their inactive and dependent stage of their lives. It gives them an advantage during this period as they can take care of themselves effectively.

 

[Setho]

The government in many areas of the world pay pensions to people who are out of active service and have served the country for a number of years, in my country it is 35 year. Look at it this way, as the government, would you rather make people save money in a bank which would just be lying there or pay them a certain amount now and a certain amount in the future.

 

[Erik4150]

Pension scheme is designed to provide relief to retirees after they are done working as a reward for all the years they worked. In my country 8% is deducted from monthly salaries of employees.

When they retire they start receiving monthly payment as their pension funds.

Nobody can work forever, that is why pension fund is important to cater to the old and ageing working class when they retire.

 

[Hasan Raza]

Pension is not what the government pays to you from their own budget or money. It's your salry part which is deducted from your salary on monthly basis.
The same money which is of millions of employees the government invest in any project and add profit to our money which we receive on retirement.
The main objective is to give support to employees after retirement in term of pension which is very beneficial for all the employees.