Раскрытые темы по английскому / Topic_8_Pension_fund

Pension fund

The pension fund is a fund, in which employees (and the firm for them) transfer a certain percent of their salary to get this money after they have been working at the firm a certain period of time. But there are other cases when employee can be forced to get his money from pension fund. One of them is redundancy.

There several cases of redundancy:

1. Decrease the volume of production;

2. Removing some department of a firm and retirement most of employees;

3. Closing down some market and therefore reducing the number of personnel in a certain department;

4. Automation;

5. Some unexpected expenditure of the firm.

Personnel manager can:

1. Convince top manager that worker can be used on another jobs especially after some study program;

2. Retiring employee, which is popular among other workers may entail labor strike or resigning of some other workers;

3. Worker can sue company for a restoration on work and a compensation

Pension is a money paid to employee when he retires reaching a certain age. There three forms of pension systems: state, private pension fund and company and two types of pension systems cumulative and distributive.