Postponed pensions are the right to pension benefits for participants who stop working before reaching the normal retirement age, whose payments are delayed until the participant retires in accordance with the retirement solutions and Pension Fund regulations.
Usually, a postponed retirement can be done with the following conditions:
For pension fund participants who take the Defined Benefit Pension Program:
If you stop working after having a minimum membership period of 3 years and have not reached retirement age, you are entitled to receive a postponed retirement that is equal to the amount calculated according to the pension formula for membership until the time of termination.
For Pension Fund participants who take the Defined Contribution Pension Program:
If you stop working after having a minimum membership period of 3 years and have not reached retirement age, you are entitled to the number of your own contributions and the contributions of the employer and the results of their development which must be used to obtain a postponed retirement.
In addition, there are also other unusual types of pensions, that is the pension due to disability. A disability pension is a pension given due to an accident and is therefore considered incapable of being employed at a company.
Disability pensions are not related to the age of the employee and will be provided if the employee is disabled and is deemed no longer capable or able to carry out his work.
Why Need to Prepare Funds for Retirement?
For those of you who haven’t prepared a pension fund, of course, you often ask:
“What’s the point of setting up a retirement fund from now on, after all? There’s still plenty of time to prepare it. “
However, in fact, retirement is one stage of life that will come sooner or later.
Every human being must reach a point where he is not productive and must stop working.
Through the human life stage cycle, you can realize that retirement is the last stage in the life cycle, it’s usually reached at the age of 55 years and over. During this time, income graphs began to decline.
Unfortunately, many people fail to enjoy their retirement, due to lack of preparation from a young age. This is where the importance of a retirement plan.
With retirement planning, you will get the following benefits:
You can find out an estimate of how much money you need when you retire.
You can find out how long you have to invest to set up the pension fund.
Old-age fund planning will act as a map (guide), to clarify the direction of your investment. Did you know that many people are exposed to bulging investments because they do not know any retirement plan and are tempted by the “PROMISE” of big profits?