₦airaland Forum

buchilino:
U DON'T GET IT. THERE IS NOTHING 2 SAVE. NO REASONABLE PARENT WOULDN'T LIKE 2 SAVE. BUT D REALITY IS DAT CURRENTLY IT'S ALMOST IMPOSSIBLE.

The 8% from you is deducted at source before you are handed your salary. Except if your organisation hasnt bought into the pension scheme, YES?

buchilino:
U READ WAT WAS ON MY MIND. AS A PUBLIC SERVANT BASED IN LAGOS, I PAY HOUSE RENT OF 300k ANNUALLY. LET ME NOT EVEN ENTER SCHOOL FEES, FEEDING MY FAMILY, HEALTH, TRANSPORT ETC. YET D SALARY IS NOT EVEN UP TO 80k. WAT DOES ONE EXPECT ME TO SAVE. IT'S ALWAYS EASY 4 PPLE 2 CRITICIZE, UNTIL THEY FIND THEMSELVES IN D SAME SITUATIONS.

I understand your pain but then, what is required of you is 8% of your Transport, Basic and Housing. The other 10% is to be paid on your behalf by your employer to make a total of 18%

Pension scheme is for the future and future must be taken care of from today.

lawrence9999:
Pension system doesn't work in a country like Nigeria. Pension scheme is a scam.

Pension is not a scam.

The reformed Pension Act 2014 has simplified and structured pension business in Nigeria. If you don't know, please ask questions and i am sure clarifications would be given. Thanks

hopefulLandlord:
Pension makes little to NO sense in a country like ours

first, inflation eats at pension badly; so a pension you saved for 30 years or more would be worth far less when it's time to start withdrawing it and you can't even withdraw everything at once, they'll be giving you bit by bit while charging you fees and using every trick in the book to metamorphically swindle you

secondly, Pension managers HATE it when a client of theirs is due to start receiving his/her money, they'll start frustrating such a person by asking for documents here and there hoping you'll die before getting all those documents, its even worse when the owner of the pension is dead and its the family members/next of kin that wants to start taking what's Thiers

Don't be ambiguous . say what you know and say what you are sure about.
Drawing from pension account has procedures. it isn't like a regular bank account. Every withdrawal from the pension account MUST be approved by the National Pension Commission which could be delayed and theres nothing PFAs can do if approval hasn't come from PENCOM.

Before withdrawal, there are requirements and until those requirements are met, there IS NOTHING PFAs can do

You might be right on inflation though but then, people drawing their monthly pension payment because of retirement still have higher balances inspite of their monthly payment, why do you think its like that?

PFAs invest the pension remittance with them in viable business that would yield superb returns. Inflation rate is always considered and that is why there is a tight regulations to ensure investment of pension funds are done with professionalism and high profit margin in mind so as to ensure returns and infact, higher returns that would have taken care of the inflation rate.

do a margin of fund price from 3 years ago and compare to fund price of today and you will see how good the funds have grown.

Thanks

MechM:
When a woman nags and gets angry over nothing it means something may be bothering her so much that she cannot even identify easily. You guys need to see a marriage counselor and a psychologist. Once a psychologist can identify what may be bothering her, I believe you guys will be fine. Also you need to be more open to her, share secrets with her, tell her to proffer solution to a problem(even if you don't have a problem, create one) then maybe she may start telling you her own problem.

You are on point

Waladade4luv:
Pls i want matured minds in the house and experienced peeps to answer aw a man can cope or treat his short tempered wife.
This is a woman who picks offence in virtually everything that happens in d house even among her co workers at work, the taxi driver that carried her, even d passangers she sit win in a bus to the bike man that carried her, pple she buys things from, infact the list is endless everybody is always offending her.
In the house she always see somthing to complain about, to d extent that one will be beging her not to vex even when she is at fault, infact so many other thinz like that that one cannot finish saying.
To guys in d house av u been in a situation like this bfor and can someone treat such a wife since its not easy to change her at dis stage.

Sorry, just saw this.

Please, take her for evaluation so that professional doctors can run an evaluation on her to ascertain her state of mind.

There might be something in the background that is an issue which she cant really point.

Doctors, evaluator, therapists would do a good job to unravel everything and put her in state of peace of mind.

All the best. Cheers

kernel504:
Is federal allocation state fund?... The center government has no jurisdiction oversighting the.. spending of state, state assembly does.

...


But....FG can bailout when there is financial crisis, right?

Na wah for you oo

Good. This would send a strong message to other compromised and corrupt judges.



The race to clean up the judiciary has begun

Good. This would send a strong message to other compromised and corrupt judges.



The race to clean up the judiciary has begun

yetseyi:
Yes very helpful, Kindly elucidate further @ the bolded

Thanks

The principal is reinvested as a going concern. The fund keeps growing and whatever that is paid as the monthly pay is from the interest accrued on the principal therefore, the balance keeps growing on and on.

yetseyi:
Thanks will be expecting your response after the meeting

Okay, i am here.
Though i work with a PFA but, i am glad to tell you, ARM pension is okay!

Yes, programmed withdrawal is good. In PW, your fund is yours. in Annuity, the fund is added to a pool of funds.
In P.W, Monthly pay is paid from the interest gained on the balance after the lump sum would have been paid. It is not possible for the retiree to exhaust the balance. The fund price is ALWAYS growing and that's more money!

Certain retirees that left job several years ago are still being paid monthly while their balances keep increasing .

Incase of death, the next of Kin is paid the balance plus accrued interest in Programmed withdrawal

In annuity and in case of death especially within the 10 year window, the Next of Kin gets paid the sum assured for the 10 year period only and not the entire funds used in the purchase of annuity. After the 10 year period, the next of kin gets paid nothing in case of death.

At the point of purchase of annuity, the insurance agent is paid 3% of your own money!

The margin between P.W and annuity isn't much and shouldn't be an attraction.
Programmed withdrawal is better and not because i work with a PFA but as matter of what is beneficial to you.

Hope this is helpful?

yetseyi:
Please I have a question , I think I have asked this in one old thread,

My mum is recently retired and still processing her benefits/documents which will take like 90 days max according to her former employer ( They are still processing her letter to in her former office before forwarding it , its a governement owned institution) and she has been asking me which one is better, program withdrawal or annuity. She has not gotten to that stage of filling the choosing form at the PFA yet and she has asked for my opinion as always.

I did research on NL and the internet generally , I have read and studied the technicalities involved and I think programmed withdrawal is better, she feels its annuity because they pay for life and a lot of people from her work place go for that. She retired at 65. I have read the pros and con's and I think programmed withdrawal is better, I also know no one is supposed to influence a retirees choice of the two from my small research but I think its my duty to ensure she makes a right choice.

For those who have parents retired /have retired and have done either or those in the financial /investment/Law sector please advise oo.


ARM is her PFA and they have been okay(at least from information her retired friends gave her) and they called to confirm her retirement date.

Micklplus
Davide470
Moscobabs
Jarus
Everybody


Thank you

In a meeting. Would respond before 1pm.
If you can send your number, I would call you

Luvinhubby please, can you give prices of the below listed items for Honda Accord 2007?



Gear box mountain
Upper ball joints
oil seal
exhaust mountain
engine cover seal

Na wah.

Excessive love of money in a negative way is the root of all evil.

This is sad.
I hope she gets help fast

This is wickedness.

I hope make up artist would make heaven sha?

Certified Debt Recovery Officer. LOL

If not for the name, i would have taken him for an Ijesha man ( Osho Maalo, se bebe)
LOL

GOod

“We are also investing more on infrastructure development, education and health for our people. When the results of our efforts become manifest, the attraction of seeking greener pastures abroad will lesson,”

Makes a lot of sense

when there are world class infrastructure
when there are good health care system in place
when people are soundly educated as to be able to determine the right thing to do, what else would be a reason why Nigerians are running out of Nigeria in droves?

“We are aware of the challenge for Nigeria, but our resolve to combat it is strong and unshakable,”

Thank you Mr. President for the closing line

mayor2013:
This type of 504 can't be seen in naija. Those seen here have undegone serious tortue from plantain business

Go and check mudi's own out. You will lick it like ice cream. Clean and very well maintained.

He is inside Anthony, Lagos.

ayobase:
Are you selling the Audi any soon?

Sold since 2015

redcliff:
Exactly i have never had problems driving a manual car. My first car was one. So would my next if i see one i like! I drove that everyday to and fro work even with heavy traffic amd i never for one day complained or felt the need that i was having a problem wuth driving.

It's sad how lazy people have become. Driving a manual is now a taboo. Unbelievable.

I used to drive a manual audi 1.8 turbo, no car ever beat me on the road both intercity and long distance journey. Yeah, it was a manual.

I drove a manual Honda Eod to 2003 model, you need to feel the power and responsiveness of the car. The fuel consumption was wonderful. I sold her off in May 2016. The buyer has been very thankful.

All these people ranting about manual are either bad drivers or have a warped mentality of a manual being not a befitting car while automatic drive is the rave.

So sad how we have demonised manual. Born and bred in Lagos and i have driven manual in Lagos consistently

Except if you don't know what you are doing, nothing is wrong with manual Drive.

In a crazy twist, I love manual more and it's more fun

I have bought 2 cars through jiji. I did all the due diligence. Checked everything checkable.

All join.

They are adults, they can flex as they like joor.

Ogaju.

The hustle didn't start today.
If only they all have given their best without becoming one of naijas problem, things would have been better.

REDDEVILS1:
how can it be checked

What I do is to Jack up the car, remove the tires and check.

REDDEVILS1:
tnx man. So I should be budgeting change of ball joints every 7-8 months cos where I live, the road is very terrible in fact terrible is just the beginning. Pot holes and large stones everywhere. If it was rented I wouldn't dream living there

No matter how bad the road might be in your area, a good ball joint should serve atleast 12months. Check it regularly at 3 months interval

REDDEVILS1:
congrats on the new ride. Is there any other maintenance tips I should know?

Nothing much beyond the routinal maintenance.
Avoid bad mechanics, get a competent engineers to work on your car. They are here on nairaland.

Use recommended grade of oil no matter what the road side mechanics say. Service as at when due and scan the car from time to time and believe me, you are good to go.

All the best. Cheers

REDDEVILS1:
boss you are obviously experienced on Honda. I intend getting 1 soon, plus advise me on the maintenance. How long do I need to be changing my ball joints cost I live in an area with terrible road that is hilly too. Thanks

Depending on the type of Ball Joint you are buying.

Buy China, at least 8 months
Buy Taiwan, it should take you about 18 months

Buy the OEM standard, it should do at least 24 months. Some tokunbo Ball Joints are also very good too

Check the ball joint from time to time and believe me, you are good to go.

I just got another Honda in June, 2016

They obviously don't know what they are talking about especially at the point they quoted 7.5% pension as per the pension reform act.

According to the pension reform act, it is now 18% combined. Employer to pay 10% while employee to pay 8% hence, his reason for the increment. Of course, he did what the act stipulated.


Again, must they reject everything ni?
Hopefully, they won't reject the air they breath and start a protest.

Sharp bad woman
i am scared for the woman because, Ambode doesn't joke with stuff like this.

Again, the govt official should devise a way to apprehend offenders as against putting their lives at risk in a bid to arrest. What if the official had been knocked down.

Crazy things happening in Lagos. LOL

Hell yeah, bring all of them to me, I'll arrange a firing squad. Lol