How long does it take your country to start paying pension rewards??

[sincerem]

When it comes to some county's government, pension takes longer than expected, but in another person's country pension is finalize imminently. That is to say, that every country have ways on dealing things, yours might be different from theirs. In the case of my country pension rewards takes longer than expected. Some civil servants who bowed out of service, and into retirement. Finds it difficult to negotiate for pension benefits, in the case where you have no one in the government to work it out for you. You will spend more than 5 years to process all possible credentials to get your pension paid to you consistently. In some case too, they never get to receive their pension reward for life. They will be going from office to office submitting forms for their pension approval but to no avail. Cos they have no body to assist them in cutting short their struggles to get their pension paid to them.

In your own country, how long does it take for a retiree to get start receiving his/her pensions weekly or monthly??

 

[Sprite1950]

I got my pension when I reached 60 and there was no problem with it. You have to claim it when you reach retirement age but it just went straight into my bank account and I have never had a problem in 10 years. I was lucky because since I retired they have raised the pension age. My sister who is only 3 years younger than me had to work another 6 years before she could claim hers so she was 66. I also have a small works pension that I took out which helps top up my income and I also received that when I was 60. I receive both pensions monthly.

 

[Josemendez]

When it comes to some county's government, pension takes longer than expected, but in another person's country pension is finalize imminently. That is to say, that every country have ways on dealing things, yours might be different from theirs. In the case of my country pension rewards takes longer than expected. Some civil servants who bowed out of service, and into retirement. Finds it difficult to negotiate for pension benefits, in the case where you have no one in the government to work it out for you. You will spend more than 5 years to process all possible credentials to get your pension paid to you consistently. In some case too, they never get to receive their pension reward for life. They will be going from office to office submitting forms for their pension approval but to no avail. Cos they have no body to assist them in cutting short their struggles to get their pension paid to them.

In your own country, how long does it take for a retiree to get start receiving his/her pensions weekly or monthly??

Well , the fact is that governments of developing countries are quite corrupt ,and they will not want to do the right thing at the right time.
However ,presently once a retiree met up to the requirements for receiving pension , he is paid within two months of retirement , especially when the person retire in a government section. The only challenge is that ,for states with low internal generated revenue , the payment may not be consistent. The pensioners may be owed some months pension at some point ,which can still be paid later.
My mum retired February 2020 ,and after submitting the necessary documents , she started receiving her pension after two months , and so far she still receives it up till now. The only one that she is yet to receive is gratuity.
Nevertheless , yes there some people that will have to suffer for years before they are paid pension ,and this is quite unethical

 

[sincerem]

Well , the fact is that governments of developing countries are quite corrupt ,and they will not want to do the right thing at the right time.
However ,presently once a retiree met up to the requirements for receiving pension , he is paid within two months of retirement , especially when the person retire in a government section. The only challenge is that ,for states with low internal generated revenue , the payment may not be consistent. The pensioners may be owed some months pension at some point ,which can still be paid later.
My mum retired February 2020 ,and after submitting the necessary documents , she started receiving her pension after two months , and so far she still receives it up till now. The only one that she is yet to receive is gratuity.
Nevertheless , yes there some people that will have to suffer for years before they are paid pension ,and this is quite unethical

Wonderfully articulated, your mom was so lucky to be paid with two months interval for pensions. Maybe your family have long legs in the government cos such is different with other people. Their are people that has spent years after retiring from service without getting their pension. My dad is an example, it has been three (3) years since he retired, he is through with biometrics, but they keep holding him down of his pensions. People came out with different luck, your mom is so lucky to receive hers in such a little time interval. Their are people that spent life time without getting yours, and never still receive their gratuity and death rewards. Such are the case in our country, everything here is just scrupulous that they only care for their own pocket, I mean the so called government.

I got my pension when I reached 60 and there was no problem with it. You have to claim it when you reach retirement age but it just went straight into my bank account and I have never had a problem in 10 years. I was lucky because since I retired they have raised the pension age. My sister who is only 3 years younger than me had to work another 6 years before she could claim hers so she was 66. I also have a small works pension that I took out which helps top up my income and I also received that when I was 60. I receive both pensions monthly.

That's wonderful, that your government clears pension verification faster and pays as soon as possible so that their civil workers can have something to take care of themselves. Your country acts faster, it shows that they take the welfare of their civil servants as a top priority too. Just looking at how quicker you were able to receive yours in no distance time, makes it more interesting to hear, and that has made your country a good country that looks into issues that needs immediate solving. You said you've been receiving your monthly pension stipend for more than 10 years now, since you retired at the age of 60. That means you're 70 years old now?? And still going strong too, you will live long.

 

[Yugocean]

In our country, anyone joined after 2014 will not get pension after retirement, but politicians are eligible for pension even for few years of service (being member of parliament/assembly). even Judges are not eligible. Almost all (expect politicians) disagree with this matter, however there are more problems. I am not sure if this is only in India or have in other countries too. Some social pensions such as disability pension, widow pension, aged pension get to the needy due to the intervention of the court.

 

[sincerem]

In our country, anyone joined after 2014 will not get pension after retirement, but politicians are eligible for pension even for few years of service (being member of parliament/assembly). even Judges are not eligible. Almost all (expect politicians) disagree with this matter, however there are more problems. I am not sure if this is only in India or have in other countries too. Some social pensions such as disability pension, widow pension, aged pension get to the needy due to the intervention of the court.

Hmm, your own country's handling of pension isn't clear to me. How will a country just be such prudent when it comes to settling only politicians and leaving host of civil servants with nothing since 2014. That's not normal if its something that is true, it is quite ridiculous I must say. My country's own is not okay too, but somehow better off, it takes long sometimes for a retiree to get paid off his salaries after his or her service years. Sometimes too it doesn't take long enough, it all depends on your connections to the country's government.

 

[cmoneyspinner]

In USA most people can retire at age 62 or later. However, those who serve in the military might be able to retire in the 40s. In USA it depends of where you worked. If you worked for a private business or corporation then it's however they set up the retirement plan. In addition you might be eligible for social security benefits. For those who worked for the federal government there is civil service retirement. That kicks in as soon as you retire. If you plan for retirement you should receive your benefits as soon as you retire.

 

[sincerem]

In USA most people can retire at age 62 or later. However, those who serve in the military might be able to retire in the 40s. In USA it depends of where you worked. If you worked for a private business or corporation then it's however they set up the retirement plan. In addition you might be eligible for social security benefits. For those who worked for the federal government there is civil service retirement. That kicks in as soon as you retire. If you plan for retirement you should receive your benefits as soon as you retire.

Hmm, your country's system of handling pension is immensely, I never knew that it happens so fast like that. My country here in Nigeria takes some time for those retired civil service workers. unless its grace that stays around the life of the retired, then it can be said that the delay is cut short. If not so, it takes more than 2 years for one to successfully complete it's biometrics, by submitting the necessary documents for imminent pension benefits. Some takes life time and the retired civil service worker never get the chance to access or get the benefits of retirement. That's the big time issue that needs immediately correction and consideration. How long does it take your country U.S.A to pay for gratuity when it comes to civil service workers??

 

[cmoneyspinner]

How long does it take your country U.S.A to pay for gratuity when it comes to civil service workers??

I can't answer that question. I used to work as a civil servant. But I quit and took my money out of retirement and gave it to my late husband to help him with a business endeavor.

 

[Donkiz]

Most times people that finds it difficult to process their pensions and benefits are those that did not retire well, and some that where unable to provide the documents needed to process their retirement benefits. Others are people that did not start processing their retirement benefits on time thereby making the whole process to take more time than it should.

Although all the request for different documents like employment letter, last promotion letter, pay slips, etc, are not supposed to be an issue as the ministries are expected to have digital files of their workers which should contain all these information but they just choose to go the process the analog way, which is very frustrating and some retirees might lose interest in the whole process and decide to abandon it.

 

[Sammyesx]

This has been a serious issue with some organisations, normally a retired worker is supposed to start receiving his /her pension immediately after retirement as long as they retired at the age stipulated in the organisations pension scheme, but this issue might be as a result of improper documentation.