[Yugocean]

Not all countries have this facility, but in many countries it is operational. Governments in many countries have also put up pension schemes for non-government workers. For this, usually a fixed amount has to be deposited over a fixed period, and in return, they get a fixed pension in old age.
If your government has made any plans, then take care of them; if not, demand it by giving examples from different countries.

[kataomoi]

I had a pension when I was working overseas and it was okay. My money was kind of just sitting there though. I much prefer my current retirement plans which allow me to contribute money pre-tax and invest it. That way my money is growing through dividends and compound interest, and by the time I retire, it would be double or triple my actual contributions.

[augusta]

I'm yet to hear about this in my country I doubt such is operational in my country but will investigate more.

[nela13]

Not all countries have this facility, but in many countries it is operational. Governments in many countries have also put up pension schemes for non-government workers. For this, usually a fixed amount has to be deposited over a fixed period, and in return, they get a fixed pension in old age.
If your government has made any plans, then take care of them; if not, demand it by giving examples from different countries.

That is how it is in my country, government or private workers, everyone pays for social security and everyone has the right to receive a pension one day.

[Treborika]

My government has implemented this. The downside part of it is that the scheme benefits those in the formal kind of employment. However the unemployed and self employed are left out of this program.

[oldbuddy]

I had a pension when I was working overseas and it was okay. My money was kind of just sitting there though. I much prefer my current retirement plans which allow me to contribute money pre-tax and invest it. That way my money is growing through dividends and compound interest, and by the time I retire, it would be double or triple my actual contributions.

There is nothing wrong with using both. Social Security does a pretty good job taking care of the basics if I stay debt free, but capping it off with a little compound interest every day adds a nice feeling to it.

[kataomoi]

I had a pension when I was working overseas and it was okay. My money was kind of just sitting there though. I much prefer my current retirement plans which allow me to contribute money pre-tax and invest it. That way my money is growing through dividends and compound interest, and by the time I retire, it would be double or triple my actual contributions.

There is nothing wrong with using both. Social Security does a pretty good job taking care of the basics if I stay debt free, but capping it off with a little compound interest every day adds a nice feeling to it.

Definitely nothing wrong with using both if both is an option. But if I had to pick one, I'd pick the tax-advantage account that lets me invest because the return is better long term.

[nela13]

Definitely nothing wrong with using both if both is an option.

Having both is an option in my country because one is private but if you have a state pension from another country, you have to choose only one.

[Yugocean]

My government has implemented this. The downside part of it is that the scheme benefits those in the formal kind of employment. However the unemployed and self employed are left out of this program.

In our country, all are allowed to join the pension schemes, but they still have to invest first, and then they will become eligible.

[Nsikan]

In my country,, the government pension scheme is only for people working on the public sector. Private sector staff are not included.

[ptrikha21]

Here in India, Private Sector folks have to do extra bit to save for their retirement.
NPS is a good option but now, Public Sector folks get many benefits especially lower interest rates for Bank and Home Loans.
Even in case of Auto loans, when I had applied for Loan for my 1st car, I had applied for SBI Auto loan which did not get approved.
I came to realize that the SBI folks somehow preferred the Public sector guys.
Anyways, you have stated some very valid points !

[Yugocean]

Here in India, Private Sector folks have to do extra bit to save for their retirement.
NPS is a good option but now, Public Sector folks get many benefits especially lower interest rates for Bank and Home Loans.
Even in case of Auto loans, when I had applied for Loan for my 1st car, I had applied for SBI Auto loan which did not get approved.
I came to realize that the SBI folks somehow preferred the Public sector guys.
Anyways, you have stated some very valid points !

Due to Job safety, they get more offer, even private companies know that they won't be in trouble, so companies want them to invest.

[Nsikan]

The government pension scheme is more secure and safe than private ones in my country

[Abdulhamid001]

Not all countries have this facility, but in many countries it is operational. Governments in many countries have also put up pension schemes for non-government workers. For this, usually a fixed amount has to be deposited over a fixed period, and in return, they get a fixed pension in old age.
If your government has made any plans, then take care of them; if not, demand it by giving examples from different countries.

I have actually not heard about this in my country yet but this is surely a good way to invest for retirement

[nela13]

The government pension scheme is more secure and safe than private ones in my country

The government pension depends on the sustainability of social security, which in my country is quite fragile. By my accounts, I will receive about 60% of what I currently receive, it is low for my future expenses. I have a side private retirement plan and I plan to have two (government and private) when I retire.

[Reedex]

The government pension scheme is quite better than using the private pension scheme.

[Kenti]

Not all countries have this facility, but in many countries it is operational. Governments in many countries have also put up pension schemes for non-government workers. For this, usually a fixed amount has to be deposited over a fixed period, and in return, they get a fixed pension in old age.
If your government has made any plans, then take care of them; if not, demand it by giving examples from different countries.

I have actually not heard about this in my country yet but this is surely a good way to invest for retirement

It is available in Nigeria. Just that it works only for those in the civil service for now.

[crestcapital]

Considering the government pension scheme is the best option because it is guaranteed.