How government policies affect retirement plans?

[Good-Person]

Governmental polices may have a really big impact on pensions. When the government creates new policies, pensioners may receive some kind of relief. Negative effects may also take place when the government creates unfavourable polices. So, how does it affect pensioners?

 

[Kane]

The government has no control over how the private companies offer pensions or other retirement benefits, however, the government has set a minimum wage and all companies need to follow this rule. Companies are also required to provide provident funds for their employees. This is mandatory poicy.