*PENSION ADMINISTRATORS are EXPLOITING US!!!

*All of us will get old one day.....in few years to come it !will be your turn!*

*_The current pension manipulations should be stopped by Nigerians now!_*

*I was very happy when the Senate recently made a move to adjust the Pensions Act to enable Nigerians withdraw up to seventy five percent of their cumulative savings. The liberty should even extend to allowing pensioners withdraw their whole sum. The law could also give pensioners the liberty to either withdraw their total sum or give the Pension Administrators the kind of investments they want!*

*_After spending sixty years or thirty five years of active service to your nation gathering all types of experiences finance, administration etc. PFA still termed you as novice; you don't know how to handle your hard earned entitlements!_*

*I will make a simple illustration here: _MR. A retires at sixty and has =N=20m as his savings. He accesses 50% of =N=20m which equals =N=10m. The balance =N=10m is to be spread over 180 months (15years) and MR. A earns =N=55,555 monthly for 15years and he stops earning anything because he is expected to die at 75. If MR. A will be allowed to have his total sum of =N=20m, ceteris paribus (all things being equal), he could invest in the Money Market or Government Treasure Bills. Currently and authoritatively =N=20m fetches up to 15% on a 70 days tenor. Meaning =N=20m gives about =N=3m per annum. Divide =N=3m by 365 days and multiply by 30 days gives MR. A, a monthly earning of =N=246,575 without depleting his capital of =N=20m!_*

*Why have we been quiet. Nigerians should wake up from this very deep slumber. The sum given to an average pensioner is not up to the interest the Administrators rake in on his/her capital. This manipulation/exploitation made the PFAs the richest entities even richer than Nigeria its self!*

*_Please share this widely to save yourselves at old age. The National Assembly should save the Nigerian elders now!_*these is a call to save us all from EXPLOITATION AND CORRUPTION

*FORWARDED AS RECEIVED/COPIED*
cc Lalasticlala.

Given market instability, in macro economics there'll be a wide margin between what is paid and what is achievable.

This helps shoves the system from destruction. Notwithstanding, the system needs review and adjustments.

The essence of this large purse to me would have been to provide stable, consistent albeit little returns without subjecting the funds to transactional avenues that would crash the funds


My advice to government is to sync pension funds alongside a fixed percentile banks make annually and channel into projects like infrastructure and housing since these funds have long term considerations and then from accrued payments disburse returns to pensioners rather than taxes taxes and taxes. Its annoying to see how uncreative the APC government is. Very annoying


What do you think Lalasticlala

The salvation is not gonna come from the government. They source funds from the PFA. So they wont curtail their debt resource

hello sir.. pls im a serving Corp member in kogi state... I'm in need of a job.. I will b glad if u can help out. thanks in anticipation sir