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Retirement
To save in pension scheme account.
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[QUOTE="Kendy, post: 217287, member: 63869"] This is a well detailed thread analysis. In my Country too, we have various pension schemes and some are operated majorly by financial institutions. A pension scheme account is direct towards people that have a source of livelihood either in private, public or their personal businesses. In public organizations, prior to this time the non-contributory pension scheme was devised by only the government where the individual workers did not have to contribute a penny towards their retirement process but as authorities kept changing, the constitution was reviewed and we are now operating on a contributory pension scheme where both the government and the potential individual retirees contribute towards their retirement process. There is no two way about this, because it is quite a logical idea because during the retirement age in civil service, which is mostly stipulated at 35years but in some cases, a compensation of 5 more years is usually added, it would be surprising that some workers do not save nor have an investment but they solely depend on the pension and gratuity benefits. The pension scheme has been a lot helpful to the retirees because the money would be disbursed after their years of active civil service. The pension scheme is mostly favourable for those in pubic organization because most private organisations do not think of the welfare of their workers. [/QUOTE]
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To save in pension scheme account.
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