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Nairaland Forum / Nairaland / General / Jobs/Vacancies / Do You Pay Pension? (803 Views)
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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: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 ![]() 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 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: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: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. |
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