Paying lump sum pension: A most sensible decision

Shareef

Minister (2k+ posts)
It was heartening to know that the govt has for once taken a sensible decision on improving governance. Paying lump sum pension or golden handshake is practiced with private organisations and NGOs and the employees fully appreciate it, as they can use the lump sum money as they wish or put it in a savings account and get the monthly returns which are same as monthly pension, but without queuing up at banks and post offices. The huge organisation for monthly pension management which is an avoidable burden on the exchequer will be done away with only having a small efficient organisation to look after the one time payment of pensions at the time of retirement. If the IMF has forced this on the govt we should thank it , as the beneficiary is Pakistan. HOPE THE GOVT DOES NOT TAKE A U-TURN ON THIS DUE TO POLITICAL PRESSURE.
 
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mhafeez

Chief Minister (5k+ posts)
اگر ان کے پاس یکمشت ادائیگی کیلئے پیسے ہیں یکمشت ملازمین کو ادا کرنے کی بجائے یہ پیسے کسی انشورنس/انویسٹمنٹ کمپنی/فنڈ میں ڈال دیں ، اس کے منافع سے پنشن ادا کرتے رہیں اور ملازم کی وفات پر یہ پیسے حکومت کو واپس مل جائیں گے
 

Moin123

Citizen
اگر ان کے پاس یکمشت ادائیگی کیلئے پیسے ہیں یکمشت ملازمین کو ادا کرنے کی بجائے یہ پیسے کسی انشورنس/انویسٹمنٹ کمپنی/فنڈ میں ڈال دیں ، اس کے منافع سے پنشن ادا کرتے رہیں اور ملازم کی وفات پر یہ پیسے حکومت کو واپس مل جائیں گے
why dont the ex-employees do it themselves and the amount will go to their successors after their death.
 

mhafeez

Chief Minister (5k+ posts)
why dont the ex-employees do it themselves and the amount will go to their successors after their death.
آپ کی تجویز بہت اچھی ہے ، لیکن کس طرح یہ حساب لگائیں گے کہ کس کی کتنی زندگی باقی ہے اور اس کو کتنی رقم دے دینے سے ان کا تمام بقیہ ادا ہوجائے گا؟؟
 

Pnauman Elvy

Voter (50+ posts)
This is continuation of neo-liberal economics agenda. This is exactly what the Friedman cult of economics has been teaching all over the world and wrecking them in the process. The IMF stooge Hafiz Sheikh is doing the job of Lord Curzon of East India company.
This theory consider 'market' the God. They have faith that a 'market' fixes everything.
Human beings are dispensable tools and do not need to be humanised in work place.
Pension is the last remaining benefit of employment. A fragile and secure-less employee is an obedient employee.
Think of your children , think what sort of future awaits them?
 

Eyeaan

Chief Minister (5k+ posts)
اگر ان کے پاس یکمشت ادائیگی کیلئے پیسے ہیں یکمشت ملازمین کو ادا کرنے کی بجائے یہ پیسے کسی انشورنس/انویسٹمنٹ کمپنی/فنڈ میں ڈال دیں ، اس کے منافع سے پنشن ادا کرتے رہیں اور ملازم کی وفات پر یہ پیسے حکومت کو واپس مل جائیں گے
Probably not a good idea. What if the insurance/investment company mishandles the money (most probably with the help of government official)s For what possible benefit, the society (and government) would take this risk? More importantly, why should state constantly siphon off tax money into private hands while the welfare of the elderly is permanently on the state.
Lump sum payment of pension is even the worst advise and idea. Of course a certain percentage of the recipients is going to benefit with wise investments but majority is going to be scammed or make bad choices. In that case society is bound to take care of the elderly, winners or the losers from the current GDP.
All these issues result from modern accounting and budgetary concerns otherwise the principle is clear. The elderly (and unable to work and create welth) are to be taken care of by the younger working generation - not as a favor or welfare but because of the simple fact hat whatever the younger generation has was built by the elderly and is inherited. Young able-bodies are to be taxed to payback for the secure well-being of the elderly. If pension is not a right instrument for this purpose state/society may adapt some other procedure to achieve this goal.
 

mhafeez

Chief Minister (5k+ posts)
Probably not a good idea. What if the insurance/investment company mishandles the money (most probably with the help of government official)s For what possible benefit, the society (and government) would take this risk? More importantly, why should state constantly siphon off tax money into private hands while the welfare of the elderly is permanently on the state.
Lump sum payment of pension is even the worst advise and idea. Of course a certain percentage of the recipients is going to benefit with wise investments but majority is going to be scammed or make bad choices. In that case society is bound to take care of the elderly, winners or the losers from the current GDP.
All these issues result from modern accounting and budgetary concerns otherwise the principle is clear. The elderly (and unable to work and create welth) are to be taken care of by the younger working generation - not as a favor or welfare but because of the simple fact hat whatever the younger generation has was built by the elderly and is inherited. Young able-bodies are to be taxed to payback for the secure well-being of the elderly. If pension is not a right instrument for this purpose state/society may adapt some other procedure to achieve this goal.

باقی دنیا میں یہی ماڈل کامیاب ہے ، پاکستان میں بھی یہ کامیاب ہوسکتا ہے ، این آئی ٹی اسی کام کیلئے ہے اور کافی اچھا کام کررہی ہے ، اس وقت کوئی سو ارب روپے کی انویسٹمنٹ ہے اسے بڑھایا جاسکتا ہے

ایک سال کی پنشن کیلئے کوئی پانچ سو ارب روپے چاہیے ہوتے ہیں ، ایک فوجی رٹائرمنٹ کے بعد اوسط بیس سال زندہ رہتا ہے ، سویلین رٹائرمنٹ کے بعد اوسط دس سال زندہ رہتا ہے ، اس حساب سے پاکستان کا پورا جی ڈی پی بھی اگر پنشن کی مد میں خرچ دیا جائے تو بھی ادائیگی نہیں ہوگی ، پہلا سوال یہ ہے کہ اتنے پیسے آئیں گے کہاں سے ؟؟

کیا حکومتی شہ دماغوں کے ذہن میں یہ سادہ سی بات نہیں آتی؟؟
 

Pnauman Elvy

Voter (50+ posts)
Putting pension contributions into private hands has not been successful in world and has in fact failed around the world. The only people singing laurels and songs are the Chief executives who instead of pensions get shares in the company's profits.....Imagine a rigged stock exchange like ours where the entire game runs on insider trading....how and why will they offer anything in return when they know the frail pensioners have no where to take there money to.
If this is indeed such a great idea, why not ask Hafeez Shaikh to disinvest his pension from IMF and put it in stock market...in any case remove pension from IMF and that would be the litmus test.
It is socialism for the rich and capitalism for the poor....leaving them at mercy of market forces.
 
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Pnauman Elvy

Voter (50+ posts)
I am surprised people have such rose tinted view of governments and their intensions. Don't you get it? The governments hate the people; the govts. world over have been hijacked profiteering corporations who see people as mere customers...customers who deserve to be fleeced. This is more in USA than in any other country.
It would be nice if a fresh economic graduate kid could give input here......but bear in mind he has to have open canvas view and not the friedman cult which they have been brainwashed into.
Friendman led to devastation of South America ; he was a celebrated economist who charmed the world to follow neo-liberal agenda...where government outsource their responsibility to private companies....
Agar saray kaam KE aur PTCL jaisee companies nay hee karna hay tou phir ....assemblies bhe dissolve kar do .....kisi nukkar pay karhay ho kay un say speeches kee bacho-dian karwalo...senate kee kia zarorat hay, any legal company can make you laws.
Army ko bhi khatam kardo, you can outsource to Black Water...
 

Eyeaan

Chief Minister (5k+ posts)

باقی دنیا میں یہی ماڈل کامیاب ہے ، پاکستان میں بھی یہ کامیاب ہوسکتا ہے ، این آئی ٹی اسی کام کیلئے ہے اور کافی اچھا کام کررہی ہے ، اس وقت کوئی سو ارب روپے کی انویسٹمنٹ ہے اسے بڑھایا جاسکتا ہے

ایک سال کی پنشن کیلئے کوئی پانچ سو ارب روپے چاہیے ہوتے ہیں ، ایک فوجی رٹائرمنٹ کے بعد اوسط بیس سال زندہ رہتا ہے ، سویلین رٹائرمنٹ کے بعد اوسط دس سال زندہ رہتا ہے ، اس حساب سے پاکستان کا پورا جی ڈی پی بھی اگر پنشن کی مد میں خرچ دیا جائے تو بھی ادائیگی نہیں ہوگی ، پہلا سوال یہ ہے کہ اتنے پیسے آئیں گے کہاں سے ؟؟

کیا حکومتی شہ دماغوں کے ذہن میں یہ سادہ سی بات نہیں آتی؟؟
Baqi duniya mein Kamyab? As I opined that is a fraud to benefit the rich. What is the benefit of this scheme - except for certain right-wing ideology. For Lump sum payments - that's a stupid idea to lure gullible people and to benefit the rich/bankers- beside. as you said. it is unworkable in our economy.
 

Shareef

Minister (2k+ posts)
آپ کی تجویز بہت اچھی ہے ، لیکن کس طرح یہ حساب لگائیں گے کہ کس کی کتنی زندگی باقی ہے اور اس کو کتنی رقم دے دینے سے ان کا تمام بقیہ ادا ہوجائے گا؟؟
زندگی کا اختیار توصرف اللہ پاک کو ہے. تاہم اگر پنشنر کو یکمشت اسکا مکمل پنشن مل جائے گا تو اسکے لیے بہت بہتر ہوگا بجایے ہر ماہ بینک کے باہر لائن لگا کر دھکے کھانے سے. وہ اپنا پنشن قومی بچت میں رکھ کر ہر ماہ منافع لے سکے گا. یہ بلکل ماہانہ پنشن کی طرح ہو گا ماسوائے اسکے کہ حکومتی ادارے اس میں بدعنوانی نہیں کر سکیں گے جو کہ اس وقت عام ہے.
 

rehan459

MPA (400+ posts)
It was heartening to know that the govt has for once taken a sensible decision on improving governance. Paying lump sum pension or golden handshake is practiced with private organisations and NGOs and the employees fully appreciate it, as they can use the lump sum money as they wish or put it in a savings account and get the monthly returns which are same as monthly pension, but without queuing up at banks and post offices. The huge organisation for monthly pension management which is an avoidable burden on the exchequer will be done away with only having a small efficient organisation to look after the one time payment of pensions at the time of retirement. If the IMF has forced this on the govt we should thank it , as the beneficiary is Pakistan. HOPE THE GOVT DOES NOT TAKE A U-TURN ON THIS DUE TO POLITICAL PRESSURE.
tatti ko gulab jamun banana to koyi aap se seekhe
 

A.jokhio

Senator (1k+ posts)
It was heartening to know that the govt has for once taken a sensible decision on improving governance. Paying lump sum pension or golden handshake is practiced with private organisations and NGOs and the employees fully appreciate it, as they can use the lump sum money as they wish or put it in a savings account and get the monthly returns which are same as monthly pension, but without queuing up at banks and post offices. The huge organisation for monthly pension management which is an avoidable burden on the exchequer will be done away with only having a small efficient organisation to look after the one time payment of pensions at the time of retirement. If the IMF has forced this on the govt we should thank it , as the beneficiary is Pakistan. HOPE THE GOVT DOES NOT TAKE A U-TURN ON THIS DUE TO POLITICAL PRESSURE.
No...this would not be in favor of pensioners....
 

Shareef

Minister (2k+ posts)
Lump sum payment is good only when you start a business and succeed in it
Yes! Many may like to do it. Others can keep their lumpsum money in National Savings Centre and keep getting their pension (profit) on monthly basis. The point is to absolve the govt of responsibility after that. There is too much corruption in the govt pension departments and no one can stop it. This is the only solution.
 
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