I just got an employment as a QA/QC in a private own firm.
I was so happy to receive my first pay yesterday, but my happiness was not long when I discovered that 8% have been deducted from my pay in the name of pension. Before now I thought as a new staff who is still under probation period, there won't be any thing like pension deduction until after the probation period, and after the probation period, before pension is been deducted from, there will be an increments in salary.
Although, I meet the personal manager yesterday to complain about the deduction, he told me that I should come back today because he is embarking on an emergency journey to Kano.
Plz I want those who have knowledge on how much is the ideal percentage that is supposed to be deducted from my monthly pay as pension to educate me, and also if it's ideal to start subtracting pension from someone who is just a new employee and still under probation.
Plz I urgently need this information to confront the personal manager when he comes back from his trip today.
Thanks.

According to the new pension amendments act , the new deduction is 18%, 10% from ur employer while 8% from employee

oladefirst2:
According to the new pension amendments act , the new deduction is 18%, 10% from ur employer while 8% from employee

Thanks for the information. But is it's ideal to start pension as a new staff?

@op most of your assumptions are wrong. Just like someone pointed out, 8% of your salary will be deducted as ur contribution to your pension scheme while the 10% will be contributed on ur behalf by ur employer to ur RSA account.

As for when the the deductions will start, it is from your first salary on the job, be it probation period or not. And also there is no sure guarantee that ur salary will be increased after confirmation. Pay rise bothers on a lot of factors including company's policy,ur appraisal,etc.

I think you should not be bothered about the pensions deduction provided the money is remitted to ur preferred PFA by your employer. The PFA will then lodge the 18% jointly contributed into ur RSA account. You should get alert monthly once the remittance is done. IF u don't, then u can raise issues with ur admin/hr

I believe all those responses were enough but let me ask u this question. Do you have RSA Account. Retirement Savings Account?

i want to also ask,they said after you withdraw 25% out of your RSA pension,that the remaining money can not be withdrawn untill you are 50years old.pls i dont understand why that age is compulsory before withdrawing the remaining 75%

The 8% is paid by you and 10% by your employer . Your employer is even paying more and at the end of the day the whole money is for you. whether under probation or not it is mandatory under pen com act .

Thank you

U very correct. Even d remaining 75% won't b handed over to u wen u turn 50. it'll b paid in bits monthly. I guess it was baba iyabo dat created dat law.

tuto:
i want to also ask,they said after you withdraw 25% out of your RSA pension,that the remaining money can not be withdrawn untill you are 50years old.pls i dont understand why that age is compulsory before withdrawing the remaining 75%