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Retirement
How do you prefer your pension to be paid??
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[QUOTE="Donkiz, post: 72667, member: 26238"] Lots of people will prefer to receive their pension in one lump just like the way gratuities are processed, but the fact is that in most countries you don't really have a say on how your pension is paid. In my country, there are two set of individuals that receives pension, one is government workers and the other are people that worked for some private organizations that have pension plan. For government workers, once you retire your pension will be processed and you will start receiving pension monthly within three months of retirement if everything is in order. So you don't have any input on how it's to be paid, it's the government that decides. For pensionable private workers, there's what they call compulsory pension contribution, in this a part of your monthly salary is paid to your pension manager and your employer is mandated to equally contribute monthly to the pension. On retirement, the pension fund administrator is expected to pay you the contributed pension in three installments with the first installment being 25% of the total sum. [/QUOTE]
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How do you prefer your pension to be paid??
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