The policy on pension Administrators need to be reviewed. The fund need to be flexible to suit the individual peculiarities. More than half of pension contributors never live to see their money with them.

Janicex:


https://punchng.com/workers-fake-deaths-to-get-pension-benefits/?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook#Echobox=1661220700

That measure of bank blocking accounts wont deter people from acting dead while alive to get their pension in lump sum..
25% payout after retirement is way too small..
If the senate could pass the bill for lump payment of 75% after retirement,
Only the will the act of forming dead to get lump payment reduce

Una for just keep una mouth shut.
This is Nigeria some ppl now don dey think the orderside

Ehhyyaa! Death is inevitable.Ehhyyaa! Death is inevitable....

nairalandankrah:


While, wise men allow hunger send them to early graves... oil dey your head

This issue is burning right in the public service. Anyhow dey do it, so long as it's humans that design it Nigerians will surely find a way around it. The only solution is to diagnose and address the root cause of the problem. How can someone only access less than 65% contribution upon retirement, and the monthly payment nothing at all compared to salary when in service? The pension law and its modus operandi needs review to meet the yearnings of the workers. Isn't it obvious already, that all workers want out of PFAs?

While I'm not in support of faking one's death, I am equally not in support of dying of hunger, disease and starvation when you have money somewhere that duly belongs to you.

If we subscribe to the former, then the purpose of having a pension is defeated.

The PFA should be reformed to expand the layers of withdrawal.

Simpubozz:

Is this how the pension scheme works?? You mean Stanbic IBTCPension will only allow me to access 25% in the meantime and I won’t still be able to access the whole remaining fund after 60yrs old?

How you take know say na Stanbic IBTC Pensions I de yarn about?

newguy1:
This is the result of bad policy shown to Nigeria as a good reform. If truly it is happening I will commend Nigerians for thinking like this. Pen com have been making crazy money on people’s sweat n entitlement for long.it’s so sad that we are wicked in this country n it is built for the wicked hearted of u have a soft heart n honest u will not survive this country take it Nigeria will kill u in depression

It's very true oo, my colleague did that and he got all his benefits at once, the man is now enjoying his money.

Corridon:
Only a fool will fake his or her own death.

You, probably, dont understand. I do not suscribe to the fraudulent act. However, if you are sacked or retired by your employer, you can only get 25% of your savings, with the PF managers. This is paid after 6months, if you dont have anything saved you are already in debt. If you don't get another job, you will not be paid N1 from your balance untill you clock 50 years or die. This is even if your balance is N50m. So some people chose to die and "resurrect" in order to keep body and soul together. Dont forget that they have bills to pay and family to carter for. If they fall sick, within this period, they are on their own. Sometimes I wonder how our own policy makers come up with their ideas. In sane climes, if you lose your job, you get something to fall back on till another job comes.With the level of unemployment in the country, they need to review the policy urgently. You can not keep savings for a starving jobless man till he dies and then someone else comes to squander his sweat.

dhappyking:


You, probably, dont understand. You are sacked or retired by your employer, you can only get 25% of your savings with the PF managers paid after 6months. If ypu don't get another job, you will not be paid N1 from your balance untill you clock 50 years or die. This is even if your balance is N50m. So some people chose to die and "resurrect" in order to keep body and soul together. Dont forget that they have bill to pay and family to carter for. If they fall seek, within this period, they are on their own. Sometimes I wonder how our own policy makers come up with their ideas. In sane climes, if you lose your job, you get something to fall back on till another comes.With the level of unemployment in the country, they need to review the policy urgently. You can not keep savings for a jobless man till he dies and then someone else comes to squander his sweat.

I quite agree with you.

nairalee:
The punishment should be simple. Death by dying. Since you're insisting you're dead already

On top there money and sweat oo.. Chaii you are wicked.

carinmom:


It's very true oo, my colleague did that and he got all his benefits at once, the man is now enjoying his money.

better atleast he will determine how the rest of his life will be.not d nonsense month stipend they will b collecting

When you fear hunger pass death


Pls update us with the states with highest faking of death....let's check something

Corridon:
Only a fool will fake his or her own death.

There you have it, it's actually the wise doing it to help themselves out here.

Really

People cannot have money and be suffering.

Why dem no go form die?

sweetonugbu:
Obodo bu igwe.

Ike gwuru, buhari and his gangs has turned obodo to igwe.

samonak:

How you take know say na Stanbic IBTC Pensions I de yarn about?

Wait, na Stanbic u dey yarn? I don die ..
But Stanbic na like d most widely used PFA I guess