Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,154,521 members, 7,823,247 topics. Date: Friday, 10 May 2024 at 07:28 AM

Do You Pay Pension? - Jobs/Vacancies - Nairaland

Nairaland Forum / Nairaland / General / Jobs/Vacancies / Do You Pay Pension? (791 Views)

ARM Pension Calls For Submission Of Cv / Massive Recruitment At National Pension Commission / Massive Recruitment At National Pension Commission (over 200 Positions) (2) (3) (4)

(1) (Reply) (Go Down)

Do You Pay Pension? by mikeyj: 1:25pm On Sep 17, 2014
Nairalanders, please help me with this question about pension... Do you guys pay pension? if yes how is it calculated. Thank you.
Re: Do You Pay Pension? by davide470(m): 2:09pm On Sep 17, 2014
mikeyj: Nairalanders, please help me with this question about pension... Do you guys pay pension? if yes how is it calculated. Thank you.
Employee pay 8% from their monthly gross pay, Employers- 10%
Re: Do You Pay Pension? by mikeyj: 2:17pm On Sep 17, 2014
davide470: Employee pay 8% from their monthly gross pay, Employers- 12%

can u withdraw it when you want? or until you are 50?
Re: Do You Pay Pension? by thickhabbey(m): 5:06pm On Sep 17, 2014
not 50 but 60. you can access it when u are 60 which is the official retirement age.
Re: Do You Pay Pension? by doyin1985(m): 5:57pm On Sep 17, 2014
I used to think the pension thing is 7.5% from both sides(employee, employer)
Re: Do You Pay Pension? by davide470(m): 6:35pm On Sep 17, 2014
mikeyj:
can u withdraw it when you want? or until you are 50?
Does not matter the age, as far as you are officially retired, you are entitle to a one off percentage (30% or so of the total), then the 70% is calculated and divided monthly till you get to 70years (The heavenly set time for Man smiley )

doyin1985: I used to think the pension thing is 7.5% from both sides(employee, employer)
It was, until the Pension Reform Act done recently.
Re: Do You Pay Pension? by mikeyj: 8:42pm On Sep 17, 2014
davide470: Does not matter the age, as far as you are officially retired, you are entitle to a one off percentage (30% or so of the total), then the 70% is calculated and divided monthly till you get to 70years (The heavenly set time for Man smiley )

Oh man! thats a really long time lol... is there no way one can "NOT" pay this ?
Re: Do You Pay Pension? by Nobody: 9:34pm On Sep 17, 2014
davide470: Employee pay 8% from their monthly gross pay, Employers- 12%
Point of correction.Employees-8%, Employers-10% of gross pay.
Re: Do You Pay Pension? by Nobody: 9:36pm On Sep 17, 2014
mikeyj:

Oh man! thats a really long time lol... is there no way one can "NOT" pay this ?
Yes, working for companies that do.not have pension.
Re: Do You Pay Pension? by mikeyj: 9:40pm On Sep 17, 2014
GoldenDr: Yes, working for companies that do.not have pension.

So lets say i am working for company A (i pay pension)

i move to company B (i dont pay pension)

i move to company C (i pay pension)

will the pension from Company A add up to Company C?
Re: Do You Pay Pension? by Nobody: 9:46pm On Sep 17, 2014
mikeyj:

So lets say i am working for company A (i pay pension)

i move to company B (i dont pay pension)

i move to company C (i pay pension)

well the pension from Company A add up to Company C?
Yes, as long as you have a pension fund administartor(PFA). which they will provide you with a number or code.
Re: Do You Pay Pension? by davide470(m): 9:55pm On Sep 17, 2014
GoldenDr: Point of correction.Employees-8%, Employers-10% of gross pay.
Yeah, thanks.. 10%
Re: Do You Pay Pension? by Nobody: 9:58pm On Sep 17, 2014
davide470: Yeah, thanks.. 10%
You welcome. in addition to the above, if an employer decides to pay without involving the employee in the contributory pension they pay 20%.
Re: Do You Pay Pension? by JAGZZ: 9:59pm On Sep 17, 2014
While joining Company C, you would have to advice them (HR) of your existing PFA & details while u were with Company A so they could slide in and start remiting your pay there.

I think that would be the best thing to do to get your funds on both end.
Re: Do You Pay Pension? by davide470(m): 10:02pm On Sep 17, 2014
GoldenDr: You welcome. in addition to the above, if an employer decides to pay without involving the employee in the contributory pension they pay 20%.
Lol.. If you see such firms, do let me know. I would forward my resume.
Re: Do You Pay Pension? by solomityo(m): 10:55pm On Sep 17, 2014
very educating... Jst wat i needed to learn.

(1) (Reply)

Abia State Civil Service Commission Is Recruiting / Urgent Vacancies In A Reputable Engineering Firm / Arm Pls Calling

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 16
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.