What is Zero Pension?
Normally, in the 12% contribution to the PF Fund, 8.33% is for Pension fund (up to a limit) and the rest is for regular Provident fund. But, when the employee opts for zero pension, the total contribution will go to the PF Fund only. Normally, when the employee had crossed the age of 58yrs and still working, the contribution is considered only for PF Fund.
Related Questions
- My wife does not work outside our home and therefore will not have pension income that normally results from employment income. How can we set up a retirement income plan for her?
- Transfer students often ask about the triple zeros which appear on their course tabulation. What do these triple zeros mean?
- Should a Contractor Report Sales and remit the IFF if sales/fee for a particular quarter is zero or a small amount?
