I support 100% retirees withdrawal of Retirement Savings, please join us.

Allow Pensioners to withdraw all their savings if they wish please

By

Uwaifor Oga (FB Wall)

PENSION FUND 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 amend 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 if he/she so wish. 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 with their hard earned funds

After spending sixty years or thirty five years of active service to your nation gathering all types of experiences finance, administration etc. PFAs still term 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 can fetch up to a maximum of 15%pa on a span of four consecutive 90 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 make on his/her savings. This manipulation/exploitation made PFA among the most lucrative businesses in Nigeria currently.

Please share this widely to save ourselves at old age. The National Assembly should save the Nigerian elders now!
This is a call to save us all from EXPLOITATION AND CORRUPTION BY PFAs

*Please share if you care!!!*

Perfectly Said

Sure
Cool point

BABANGBALI:
I support 100% retirees withdrawal of Retirement Savings, please join us.

Allow Pensioners to withdraw all their savings if they wish please

By

Uwaifor Oga (FB Wall)

PENSION FUND 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 amend 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 if he/she so wish. 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 with their hard earned funds

After spending sixty years or thirty five years of active service to your nation gathering all types of experiences finance, administration etc. PFAs still term 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 can fetch up to a maximum of 15%pa on a span of four consecutive 90 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 make on his/her savings. This manipulation/exploitation made PFA among the most lucrative businesses in Nigeria currently.

Please share this widely to save ourselves at old age. The National Assembly should save the Nigerian elders now!
This is a call to save us all from EXPLOITATION AND CORRUPTION BY PFAs

*Please share if you care!!!*

well said but but grease go enter hand and it will be swept under the carpet.Let be praying.

I agree with you sir.

Honestly, this pension is a scam. I just tire, I swear

This entire country is a cesspool of exploitation.
The rich exploiting the poor. The political class exploiting the common man.

The uneducated (Buhari) exploiting the youths in school (university students).

I support

newnet:
I support

Supporters club

Do not mind OP, if you have to withdraw all at once then it is no longer pension but ajo. The same folks will return few months or years to lament after squandering all the money on new wives and frivolities..Dem full the security services retirees.
Some of them who can not manage well 50% won't still manage 100%, they are just being ecinomical with the truth.

I have done this calculations b4.
A simple fixed deposit of that sum can fetch the pensioner even more than 3m per annum.
I think our elite forced a pool of investments funds for themselves from the people's hard work.
They're not smart.
They cant think.
They can only cheat