Why do some companies fail to pay pension to their retired workers

[Favour67]

Some people have worked all their life with the private sector hoping that they will be payed pension every month, but their hopes are dashed, why are this things common among private sectors.

 

[Sariana23]

In my country, pension is not given to retired people in the private sector. Everyone who works in these companies must save or pay to accumulate money in a pension for their old age (something that should not happen), for this they give a substantial settlement at the time of retirement to invest or save it for future expenses.

 

[Nomad]

In our country, only the government pays pensions, private companies do not offer pensions. Therefore, if you are working in the private sector, you will not have a pension, if you want to receive a pension, you need to work for the government. However, getting a government job can be really difficult because of competition. You will have to pass multiple examples to get a government job.

 

[Ja Sa Bong]

Private companies doesn't pay their workers any pension. What they pay is retirement benefits which isn't paid by all private companies. It's government workers who worked in government offices, ministry and local government that are get pension after they've retired.