What are the main types of pension??

[Bousine123]

There is the type of pension when your employer takes part of your salary and saves it up for you to be collected in a certain time. In this case the government.

 

[Solutionav]

Can someone elaborate the main types of pension? And what you need to know about them?

I don't know of any type of pension, the one I know, is the money the company or organization pay you when you retire this is common in government work, it might last for years or until the person die.

 

[Nurudeen]

I really don't know if pension is of different types. I really think I need to make more research about that and with time I will be able to update this post and tell you the results of my research

 

[Filicit]

There are various kinds of pension like superannuating, compensatory etc but personally I group them in two, personal and employee pension, employees pension is between you and your employer while personal is between you and private pension firms

 

[Yusuf]

I don't know that pension are placed or separated into different categories. With this your question, I will definitely make more research about the types of pension that we have

 

[btaliat]

There is no specific type of pension. This is because the types differ from countries to countries. If you even search online, you will be hiebn different answers.

 

[tuna89]

Superannuating Pension – This kind of benefits is given to a laborer who resigns at the endorsed age cutoff of 60-65 years.

Compassionate Allowance – This happens when benefits isn't permitted because of a local official's expulsion from administration for offense, bankruptcy or ineptitude or failure.

. Compensatory Pension – This is a kind of benefits that is conceded to a specialist whose lasting post is annulled and government can't furnish him with appropriate elective business.

Thank you for these information, I feel enlightened by these and I can always refer to the info when I start to get pensions. Just salaries for now.

 

[Hojo]

I don't really know much about pension, but I know that it's been paid to retired service workers who have worked for 35yrs, and it's been paid monthly or after 6month

 

[HayKay]

In my country, there are majorly 6 types of pension and they are:
1. Contributory pension scheme: this works whether in private or public establishment. Under this scheme you're entitled to RSA
2. Voluntary contribution scheme: This one is more flexible, you choose when to make contributions to your account
3. Micro-pension scheme: built for self employed people
4. Cross border scheme: those domiciled outside the country but still want to save in local currency
5. Retirement plan
6. Institutional pension fund management: for corporate and government bodies

 

[Trexxxy]

Superannuating Pension – This kind of benefit is given to a labourer who resigns at the endorsed age cutoff of 60-65 years.

Compassionate Allowance – This happens when benefits aren't permitted because of a local official's expulsion from the administration for offence, bankruptcy or ineptitude or failure.

. Compensatory Pension – This is a kind of benefit that is conceded to a specialist whose lasting post is annulled and the government can't furnish him with appropriate elective business.

I honestly didn't know there were types of pension and I find this educative and entertaining, although I fail to see how this correlates with modern-day pension schemes.

 

[CeeJase]

Superannuating Pension – This kind of benefits is given to a laborer who resigns at the endorsed age cutoff of 60-65 years.

Compassionate Allowance – This happens when benefits isn't permitted because of a local official's expulsion from administration for offense, bankruptcy or ineptitude or failure.

. Compensatory Pension – This is a kind of benefits that is conceded to a specialist whose lasting post is annulled and government can't furnish him with appropriate elective business.

This narrates exactly the same kind of pension plans that's available in my country as well with the Superannuating Pension being the most popular among the rest.

 

[Innocent Jeremoth]

There are two main types of pension plans: the defined benefit and the defined contribution plan. A defined benefit plan guarantees a set monthly payment for life (or a lump sum payment on retiring). A defined contribution plan creates an investment account that grows throughout the employee's working years.

 

[CeeJase]

You know I was actually thinking that pension is always the same thing all over the world but this topic really opened up my eyes to how it's view and applied in different places.

 

[Kaffyfolla]

There are two main types of pension plans: the defined benefit and the defined contribution plan. A defined benefit plan guarantees a set monthly payment for life (or a lump sum payment on retiring). A defined contribution plan creates an investment account that grows throughout the employee's working period

 

[Sincerem]

Superannuating Pension – This kind of benefits is given to a laborer who resigns at the endorsed age cutoff of 60-65 years.

Compassionate Allowance – This happens when benefits isn't permitted because of a local official's expulsion from administration for offense, bankruptcy or ineptitude or failure.

. Compensatory Pension – This is a kind of benefits that is conceded to a specialist whose lasting post is annulled and government can't furnish him with appropriate elective business.

This are the known type of person and an individual can register for any of them that best suits their lifestyle. The one for workers is the retirement pension and which caters for the need of their partners.

 

[Josephjossy]

I don't think that there are type of pension, from my own understanding, a pension is a money paid to a worker offer retirement. So I don't know if there are types of retirement. But I think I have to do some research about that as well

 

[Lens]

I don't really have an indepth knowledge around pension but I know that there are different types of pension plans. This plans could be undertaken based on the choice of the person who undertakes the scheme.

 

[Ononivami]

I don't know that there are different types of pension. Pension shouldn't be categorised it's only the scheme that should be grouped based on the amount that you can afford to put on the scheme.

 

[Syldan]

Retirement varies depending on the kind of job people undergo. There are public servants and those who operate with the private sector or organisation so the pension varies. For those in the public they are paid monthly after their retirement while for the private, the are paid once after their retirement.

 

[Bookwormlux]

I really do not think if there are different types of pension at all , because we only have government institutions paying pension to people all the time of retirement to compensate them for their work.