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Nigerian Retirees Vs European Retirees In Photos - Career (2) - Nairaland

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2 Nigerian Airways Retirees Slump, Die On Queue, Absence Of Forms Stall Process / Documents Nigeria Airways Retirees Must Take Along For Verification / 15,000 Lagos Retirees Get N66.5bn Accrued Pension Rights (2) (3) (4)

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Re: Nigerian Retirees Vs European Retirees In Photos by Joephat(m): 4:15pm On Nov 22, 2017
cool
Re: Nigerian Retirees Vs European Retirees In Photos by mmsen: 4:15pm On Nov 22, 2017
How many children do each of those retirees have? How much are their respective governments having to spend on maintaining the younger population?

What does each society say about 'respecting elders'? Holding leaders to account? Self-respect and self-esteem?

Once you answer those questions you will see this happens.

And OP, I'm sure you are part of the problem. Most of you Nigerians are.
Re: Nigerian Retirees Vs European Retirees In Photos by xpset2(f): 4:17pm On Nov 22, 2017
carlcar2012:
Like if you think explore d look for trouble
I feel your pain. Not a single like for like 2 hrs.
Re: Nigerian Retirees Vs European Retirees In Photos by carlcar2012(f): 4:18pm On Nov 22, 2017
xpset2:
I feel your pain. Not a single like for like 2 hrs.

Is not a small something. Help na
Re: Nigerian Retirees Vs European Retirees In Photos by aspirebig: 4:19pm On Nov 22, 2017
Explorers:
Some civil servants salary, including promotion and annual increments.



₦200, 000 × 12Months = ₦2, 400, 000per annum


₦2, 400, 000 × 35years = ₦84, 000, 000


₦84m, if a civil servant decides to save his entire income for 35yrs without spending a dime.







State civil servants will earn far far less than this.



Some politicians will earn more than ₦84m in a year while serving just 4years in an office.


Thunder fire poverty. .....kai Africa is damn backward.
Re: Nigerian Retirees Vs European Retirees In Photos by johnstar(m): 4:19pm On Nov 22, 2017
Explorers:
Some civil servants salary, including promotion and annual increments.



₦200, 000 × 12Months = ₦2, 400, 000per annum


₦2, 400, 000 × 35years = ₦84, 000, 000


₦84m, if a civil servant decides to save his entire income for 35yrs without spending a dime.







State civil servants will earn far far less than this.



Some politicians will earn more than ₦84m in a year while serving just 4years in an office.

I give up on this'd country

Time to pack my bag enter oyinbo man country
Re: Nigerian Retirees Vs European Retirees In Photos by Luxuryconsult(m): 4:23pm On Nov 22, 2017
raumdeuter:


Okay this is getting clearer. So the gratuity and the pension owed has been deducted from these peoples salary In their working days. So the money was deducted and saved where? ministry of finance account or what. Do the retired workers have a statement of account issued to them showing how much total was deducted over their working years to show how much they'll be entitled to in retirement.

Even Nigeria with all these inflation sef. Imagine someone who retired in 1995 on a salary of 10k a month maybe good money then, how much would they have deducted to be paid back now that will make sense for survival In this today's economy
they surely do know the total amount at the end. My dad knows everything the government was/is owing him as pension. He calculated everything himself at home before heading for claim and when they did the same at the pension office too, it was accurate. So to avoid stories that touch. They do know the total pension they ought to claim. The government no just care unless you know someone that know someone that knows the govt.

2 Likes

Re: Nigerian Retirees Vs European Retirees In Photos by haybeebush(m): 4:23pm On Nov 22, 2017
A portion is deducted by the government through pension trust fund but not sure how the calculation I done.




raumdeuter:
For European retirees, while working a portion of their income is deducted and kept for them, this portion is disbursed back to them after they retire. As social security checks

For Nigerians do the govt deduct a portion of their income while working and keep for retirement. Please help clarify
Re: Nigerian Retirees Vs European Retirees In Photos by omooba969(m): 4:26pm On Nov 22, 2017
From Facebook. grin
Re: Nigerian Retirees Vs European Retirees In Photos by meforyou1(m): 4:26pm On Nov 22, 2017
raumdeuter:
For European retirees, while working a portion of their income is deducted and kept for them, this portion is disbursed back to them after they retire. As social security checks

For Nigerians do the govt deduct a portion of their income while working and keep for retirement. Please help clarify
o yes. It's done in Nigeria as well. That's pension. With pencom, retirees are now better treated since even worker opens his retirement account in any PFA of their choice. Before coming of pension, staff of pension office use to eat all the money and leave retirees stranded. Especially military pension

1 Like

Re: Nigerian Retirees Vs European Retirees In Photos by Ahasco(m): 4:27pm On Nov 22, 2017
Explorers:
Some civil servants salary, including promotion and annual increments.



₦200, 000 × 12Months = ₦2, 400, 000per annum


₦2, 400, 000 × 35years = ₦84, 000, 0004933904


₦84m, if a civil servant decides to save his entire income for 35yrs without spending a dime.

Haba! How is that possible?







State civil servants will earn far far less than this.



Some politicians will earn more than ₦84m in a year while serving just 4years in an office.
Re: Nigerian Retirees Vs European Retirees In Photos by comshots(m): 4:27pm On Nov 22, 2017
Funny enough,tinubu,fashola and co who are retirees are not going through stress to receive their retired benefit every month despite looting for 8years.The big ogas in those ministries are the ones that are fraudulently depositing the Nigerian retirees benefits in a fixed account to yield interest.

1 Like

Re: Nigerian Retirees Vs European Retirees In Photos by sokera: 4:28pm On Nov 22, 2017
raumdeuter:
For European retirees, while working a portion of their income is deducted and kept for them, this portion is disbursed back to them after they retire. As social security checks

For Nigerians do the govt deduct a portion of their income while working and keep for retirement. Please help clarify
yes they do ...
Re: Nigerian Retirees Vs European Retirees In Photos by magzey: 4:32pm On Nov 22, 2017
WHEN PMB is fighting corruption you are busy calling him names and others wishing him dead and so on,and did you see what corruption has caused to our fathers and grand fathers undecided undecided

1 Like

Re: Nigerian Retirees Vs European Retirees In Photos by Desirewealth: 4:32pm On Nov 22, 2017
Retirees are really suffering in Nigeria, some have died a result of the suffering as though they commit offence to complete their successfully.

These are the reasons Nigerian civil servants are afraid retirement and some resort in falsification of date of birth and back dating their first appointment etc to delay the time to face this suffering.

1 Like

Re: Nigerian Retirees Vs European Retirees In Photos by theimmortals(m): 4:35pm On Nov 22, 2017
Explorers:
Some civil servants salary, including promotion and annual increments.



₦200, 000 × 12Months = ₦2, 400, 000per annum


₦2, 400, 000 × 35years = ₦84, 000, 000


₦84m, if a civil servant decides to save his entire income for 35yrs without spending a dime.







State civil servants will earn far far less than this.



Some politicians will earn more than ₦84m in a year while serving just 4years in an office.

Lucky Yahoo boys make 84m in 10-12months

Yahoo+ Boys make it in 2 months
Re: Nigerian Retirees Vs European Retirees In Photos by akigbemaru: 4:37pm On Nov 22, 2017
nestic:
the exert definition of bad and good government...infact now the problem is we dont even know who to blame anymore...
call buhari "he is in london for medical check-up"...
call lai Muhammed "he lies"
call dinomelayi {soorrry if i spelt it wrong} he shows us his cars.
am tired of this country infact am leaving to Zimbabwe....mugabe is gone
Re: Nigerian Retirees Vs European Retirees In Photos by MaziOmenuko: 4:39pm On Nov 22, 2017
raumdeuter:


Okay this is getting clearer. So the gratuity and the pension owed has been deducted from these peoples salary In their working days. So the money was deducted and saved where? ministry of finance account or what. Do the retired workers have a statement of account issued to them showing how much total was deducted over their working years to show how much they'll be entitled to in retirement.

Even Nigeria with all these inflation sef. Imagine someone who retired in 1995 on a salary of 10k a month maybe good money then, how much would they have deducted to be paid back now that will make sense for survival In this today's economy

There was too much rot in the old system, this is the result we are seeing now. The money is not actually saved anywhere, just on paper. Pension and gratuity just appears as a recurrent expenditure.

Inflation is another things. Some of these pensioners earn as little as 2,500 per month (which was supposed to be a huge sum as at 1989 when they retired).

But the reformed PFA introduced by OBJ is much better; your PFA factors in the inflation rate and your money grows as a fixed income with interest rate. You can access up to 25% of your total lump sum once you retire. They also pay you monthly stipends if you lose your job due to no fault of yours (so if you slap your oga and dem sack you, you are on your own).

1 Like

Re: Nigerian Retirees Vs European Retirees In Photos by saaramis(m): 4:39pm On Nov 22, 2017
If u don’t have means to leave d country, just pray to God to bless u so u can have ur own investment so as not to rely on any FG pension coz as a matter of fact things r not getting better in this country. So help us God!
Re: Nigerian Retirees Vs European Retirees In Photos by Thewaythingsare: 4:40pm On Nov 22, 2017
Explorers:
Some civil servants salary, including promotion and annual increments.



₦200, 000 × 12Months = ₦2, 400, 000per annum


₦2, 400, 000 × 35years = ₦84, 000, 000



₦84m, if a civil servant decides to save his entire income for 35yrs without spending a dime.







State civil servants will earn far far less than this.



Some politicians will earn more than ₦84m in a year while serving just 4years in an office.
This is even on the high side! Less than 1% of civil servants earn above N100,000
Re: Nigerian Retirees Vs European Retirees In Photos by Prosper123: 4:41pm On Nov 22, 2017
We Nigerians are hypocrites. Stop complaining. Many of us complaining against the government will do much worse when given the office. We are complaining now because we have not seen the opportunity. When we are given the opportunity you will see. Check the little positions we handle as normal people, you will notice how wicked and heartless and greedy we are. In that way and condition, the life cycle of evil and wickedness continues untouched.

3 Likes 1 Share

Re: Nigerian Retirees Vs European Retirees In Photos by buffalowings: 4:45pm On Nov 22, 2017
Ishilove:

Yes they do. Na to get that portion be the wahala

Are you a pensioner cheesy grin

Na true you talk o
Re: Nigerian Retirees Vs European Retirees In Photos by benjaminiyke(m): 4:48pm On Nov 22, 2017
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Re: Nigerian Retirees Vs European Retirees In Photos by sniperr007: 5:04pm On Nov 22, 2017
Explorers:
Came across this on facebook.



When our old parents have laboured so hard to serve their fatherland, the government for 35years.

But they have to queue for days, weeks, months to get paid.


Some have even died trying to get their pay.


@op
u said paid. They ve to b verified 1st & dats days things
Re: Nigerian Retirees Vs European Retirees In Photos by Explorers(m): 5:05pm On Nov 22, 2017
Thewaythingsare:

This is even on the high side! Less than 1% of civil servants earn above N100,000

I know bro, that's why i included promotion bonuses and annual increments to like level 15(Federal).
Re: Nigerian Retirees Vs European Retirees In Photos by mannatech: 5:06pm On Nov 22, 2017
bettercreature:
This is why politicians steals money there is no hope for them afte they leave office
But most Governors, in fact most public office holders get paid monthly after leaving office.
Re: Nigerian Retirees Vs European Retirees In Photos by Chidonc(m): 5:09pm On Nov 22, 2017
raumdeuter:


Okay this is getting clearer. So the gratuity and the pension owed has been deducted from these peoples salary In their working days. So the money was deducted and saved where? ministry of finance account or what. Do the retired workers have a statement of account issued to them showing how much total was deducted over their working years to show how much they'll be entitled to in retirement.

Even Nigeria with all these inflation sef. Imagine someone who retired in 1995 on a salary of 10k a month maybe good money then, how much would they have deducted to be paid back now that will make sense for survival In this today's economy
sir if you had 10k in 1995 in an account without withdrawing it, sir , by now it should be over a million, with interest rate and inflation overtime

1 Like

Re: Nigerian Retirees Vs European Retirees In Photos by Godwin616: 5:11pm On Nov 22, 2017
MaziOmenuko:


Yes, it is done. But then the money is looted and relooted so when the current governor comes to office, he has to pay from the state funds rather than pension funds because it is nowhere.

OBJ started a reformed pension scheme where Pension Fund Administrators (PFA's) now keep the funds. The pension scheme extends to every worker, not just govt workers. They keep a 25% percentage of your basic pay (8.5% from you, your employee pays the remaining) so when you retire, the PFA's pays your pension.

Why it is still complex now is because these guys on the pix belongs to the era of the pre PFA scheme where govt had access to all the pension funds. Soon, when people retire, pension will be paid by PFA's and it wont take this rigorous process.
Yes, you are right. Under the new PFA, access to your savings is smooth and seamless. In fact you can get the whole process done and your account get credited within 6 weeks if retirement. Thanks for the Pension Reform Act by Obasanjo.

2 Likes

Re: Nigerian Retirees Vs European Retirees In Photos by Jflex07(m): 5:12pm On Nov 22, 2017
Baba God Abeg for my next life, if anything like that dey, abeg oh no carry me come Nigeria.. If I dey my mama belle, I come use style know say I dey enter Nigeria,i go use my mama intestines kill myself.. I no fit come this country the second time ,naija own no follow at all
Re: Nigerian Retirees Vs European Retirees In Photos by Nobody: 5:14pm On Nov 22, 2017
Explorers:
Some civil servants salary, including promotion and annual increments.



₦200, 000 × 12Months = ₦2, 400, 000per annum


₦2, 400, 000 × 35years = ₦84, 000, 000


₦84m, if a civil servant decides to save his entire income for 35yrs without spending a dime.







State civil servants will earn far far less than this.



Some politicians will earn more than ₦84m in a year while serving just 4years in an office.
nice one explorer

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