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Nairaland Forum / Nairaland / General / Career / Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment (20548 Views)
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Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by Adesiji77: 6:30am On Aug 30, 2015 |
For the first time under the Contributory Pension Scheme, workers in active service will soon be allowed to withdraw 25 per cent of the balance in their Retirement Savings Account as collateral for mortgage loan before they reach retirement age.http://www.punchng.com/news/workers-to-access-25-pension-savings-for-mortgage-to-forfeit-lump-sum-payment-at-retirement/ lalasticlala 2 Likes 2 Shares |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by christinie(f): 6:32am On Aug 30, 2015 |
Wait.... 1 Like |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by IamPatriotic(m): 7:07am On Aug 30, 2015 |
This is laudable, but the forfeiture of the lump sum which is the only tangible savings civil servants fall back on after retirement needs to be reexamine. 22 Likes 1 Share |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by powerfulsettingz: 8:43am On Aug 30, 2015 |
I swear it a welcomed development 3 Likes |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by DahtzFestjayz: 8:44am On Aug 30, 2015 |
IamPatriotic:Explain further! |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by jamesbanjo(m): 8:44am On Aug 30, 2015 |
Hmmmmv |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by ladyF(f): 8:44am On Aug 30, 2015 |
Good one... It's [size=20pt]LadyF[/size] again |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by kulobyno: 8:44am On Aug 30, 2015 |
Ok |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by mystical109(m): 8:44am On Aug 30, 2015 |
. |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by slimmyjimmy(m): 8:44am On Aug 30, 2015 |
Hoo ohh |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by nollyway(m): 8:44am On Aug 30, 2015 |
[size=20pt]eziokwu!! [/size] |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by mouaue: 8:44am On Aug 30, 2015 |
6 Likes 1 Share |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by peddyholly: 8:50am On Aug 30, 2015 |
Nice development 1 Like |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by Nobody: 8:55am On Aug 30, 2015 |
K |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by nairalandbuzz(m): 8:56am On Aug 30, 2015 |
Not nice... It's the lump sum that most of the retirees depend on after service and it ain't making sense. That should depend on the age of the retirees. If they are still younger, they should go along with not giving a lump sum but if they are older, they should just give dem their lump sum make dem chop dem money before dem die. 7 Likes |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by Nobody: 8:56am On Aug 30, 2015 |
Yes, it is. Thanks for sharing and happy Sunday. mouaue: |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by Nobody: 8:57am On Aug 30, 2015 |
Seems like dis guideline was meant to serve the interest of some selected few. 3 Likes |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by ekkywolex(m): 8:58am On Aug 30, 2015 |
Review the lump sum. What happens after paying back d mortgage |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by omenka(m): 8:59am On Aug 30, 2015 |
IamPatriotic:Do you realise what you just said in the end meant- "they should look into the possibility of workers eating their cake, yet still having it"?? 1 Like 1 Share |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by 001ng: 9:00am On Aug 30, 2015 |
Laughable. |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by mrGrAb(m): 9:06am On Aug 30, 2015 |
omenka:Only 25% will be used as equity contribution. Another 25% can giving as lump sum after retirement .. then the rest can be paid to them monthly.. i dnt think its a case of eating ur cake and having it.. Happy Sunday.. Go to church 10 Likes 1 Share |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by Bollinger(m): 9:07am On Aug 30, 2015 |
powerfulsettingz: Did you read the whole thing through? it's 25 percent. Not 50 percent or 75 percent. 25 percent. That is fraudulent to say the least. They are preying on the desperation of Nigerians and you all are applauding. Remember it's still the workers money. 11 Likes |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by Leyemoshood: 9:10am On Aug 30, 2015 |
mortgage? so government wanna decide what pensioners do with their money...rubbish |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by babakess: 9:11am On Aug 30, 2015 |
ITS A NICE DEVELOPMENT....leaving the money to be growing at there 3% per annum is non sense.......u can grow ur money in leap and bounds at 12% atleast when you have access to it.....Good news |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by chichriso: 9:12am On Aug 30, 2015 |
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Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by 4ubootyman: 9:18am On Aug 30, 2015 |
Adesiji77: Although it looks laudable but there are so many loopholes that are sticking out that will eventually not make this money access able. 1. If I can only access in cases where im getting mortgage from FSA or deposit money banks why do I need to add the PFA to the first loss payee? The banks will insist they must be the first loss payee. And when I'm only taking my 10% contrubution from my pension why does the PFA need to be a first loss payee? 2. Why do they need another valuation done? The banks or whoever im collecting the lump sum from would have done 2 independent valuations already at my cost then I will do another one for the PFA because of 10% contribution? are you pple sure u r alright? All these include the fact that I have lost the ability to get the lump sum again.....Abeg si eba puo...if they want to favour pple they shld do if not they shldnt bother 4 Likes |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by Abbey24(m): 9:18am On Aug 30, 2015 |
It is a welcome idea |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by Kingkamal(m): 9:18am On Aug 30, 2015 |
Alhamdulillah this wicked pension 1 Like |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by standfit5(m): 9:18am On Aug 30, 2015 |
Bollinger:you can imagine that its only for thise who hae min of 6m as balance. what happen to younger generation with less that want to stop the "menace" of rent by landlords even as early as 40yrs old? 5 Likes |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by holluwai(m): 9:19am On Aug 30, 2015 |
I do not support the idea but like someone said if it is an older person who's close to retirement age then such person can take advantage of this not young and vibrant workers. 2 Likes |
Re: Workers To Access 25% Pension Savings For Mortgage …to Forfeit Lump Sum Payment by buoye1(m): 9:22am On Aug 30, 2015 |
I still don't understand this pension scheme at all 1 Like |
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