Not every organisation provide a means for their staffs pensions and other benefits. If you are a contract staff, it is even worse because you can't and won't be included in the pension scheme solely because you are a contract staff.
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One of the best decisions to ever make as an employee is to start preparing for pension funds as soon as possible, this helps to get prepared for the rainy days.I know that during your employee's employment years you are paying into this fund, though if you don t work with a contract you won t be able to pay monthly for your fund, I got to know this because I have been working for almost a year as an electrician after I finished my highschool without a contract and I didn t add anything for that period on my pension fund.
I have started raising my pension phone I started at my first five years at my workplace, I know before I get to 35 years of working in that organisation my pension will be okay.I recently started working and was not even told about pension until an old friend told me of his "old age" contribution so I had to go back to ask, it was then I was told about the pension structure. Ignorance really is not an excuse.
That is actually a wise step to conceal a good future for yourself, having a good backup plan as the money you are leaving aside would actually really help to achieve good money for pensionI have started raising my pension phone I started at my first five years at my workplace, I know before I get to 35 years of working in that organisation my pension will be okay.
It is a mandate and also allow for workers to reach pension but most work as most times do not buy the idea however it is very important for every worker it will have a pension scheme in order to assist his futureIn our country it is mandated by law for a worker to make contributions to the SSS (social security system) for private company workers and GSIS (government service insurance system) for government workers. The pension becomes valid after 10 years or 120 months of build up. Of course, you need to be 60 years old to avail of it. The contribution of the worker is matched by the employer as an added benefit. But only companies with 10 or more workers are required by law to enroll their workers with the SSS.
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