The pensioners under the auspices of the Nigeria Union of Pensioners (NUP) has kicked against any move to divert the N5.2 trillion savings, under the Contributory Pension Scheme, for other purposes and usages.

The union said Nigerian workers alongside other contributors are saving their money for the rainy day, after retirement, adding that any attempt to divert the savings would be resisted.

President of the NUP, Dr Abel Afolayan said “for government to think of diverting the money to infrastructural development without proper safeguards is unthinkable.”

Minister of Power, Works and Housing, Mr Babatunde Raji Fashola, hinted that the government should use the N5.2 trillion contributory pension savings for infrastructural development.

But the NUP kicked against the move, saying it took exception to it and would not accept it.
“The Nigeria Union of Pensioners takes exception to the position expressed by the Honorable Minister, and wishes to state that this statement is not only reckless but unfortunate. How on earth will government decide to use hard- earned people’s money that is contributed for a specific purpose under the law, and the money would be used for another purpose that has no backing of the law".

The Nigerian workers alongside other contributors are saving their money for the rainy day in order to make life better for themselves after retirement, and for government to think of diverting the money to infrastructural development without proper safeguards is unthinkable.

“What will be the fate of these people when they finally retire to fall back on their money and the money is nowhere to be found?

The union is not totally against investing on infrastructural development per se, but our fear is premised on the fact that there is high rate of impunity in the system coupled with the corruptive tendencies of our government officials who see pension money as a gold mine and their penchant for reckless infringement on pension funds as experienced under the old pension scheme.

http://www.tribuneonlineng.com/we-won%E2%80%99t-accept-diversion-of-n52-trn-contributory-pension-savings-%E2%80%94pensioners

Yes ooo kick against it ooooo

abeg o. this is not Greece. leave our pensions alone. this story get kleg sha. majority of the pensions funds are invested in govt tbills nd bonds already.

Mr Fashola is becoming increasingly annoying and provocative recently

This is the hieght of stupidity how could then even think of that? I am sure their ewarrior will rationalize it

Some pple are just plain silly to suggest using pensioners money just like thst. What a dare!

That is the only source of capital now and we have no choice.

Ride on Sai Buhari....better spend it before PDP and its leadership target that pool of funds in next general elections.

mtchw Naija sef.



sai change. sai apc