Economic Hardship: Workers Swoop On Their Pension Contributions - Career (2)

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Economic Hardship: Workers Swoop On Their Pension Contributions - Career (2) - Nairaland

Nairaland Forum / Nairaland / General / Career / Economic Hardship: Workers Swoop On Their Pension Contributions (18265 Views)

Economic Hardship: Wema Bank Announces Salary Increment For Staff / Can Someone Access Their Pension Funds Before Official Retirement Age / How Can One Force His Ex Employer To Pay Pension Contributions In Redundancy? (2) (3) (4)

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Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Skillsnigeria: 9:14am On Jun 20

Hmmm

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by NeckingNgulping(m): 9:14am On Jun 20

otomatic:
This simply shows how much job loses have occurred as people who are still in employment cannot make withdrawals

And it's a one-off thing as you can't withdraw the 25% now and do it again in the future. Policies should be revised to make the withdrawal twice or more.

3 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by EpicDude123: 9:17am On Jun 20

SHEGE.....LOADING....
SHEGE.....STILL LOADING
MAKE EVERYBODY BRAZE UP grin

1 Like

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by rummmy: 9:20am On Jun 20

PFAs should be paying interest..
Imagine holding someone finds for many years....making use of it without pay interest of a dime and when you want to access your fund it becomes a very long thing..
Ask maina ..

2 Likes 1 Share

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Whobedatte(m): 9:25am On Jun 20

I don't get it . Isn't only 25% allowed after loss of job ?
My crusaderPEN have not sent me notification since two years now
I'm afraid they haven't swallowed my money sef . Are they even still in operation?
I heard you can even withdraw all your money in pension scheme before retirement if you k ow your way .
Abeg if you get any link to do that. Kindly dm me make we do business
Inflation Don finish the money sef

3 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Duru009(m): 9:29am On Jun 20

Can someone help me the MODALITIES of accessing this Pension FUND......

Thanks

1 Like

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Dpharisee: 9:32am On Jun 20

I don withdraw my contributory pension and the money don finish, high inflation ate deeply into it

2 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by VeeVeeMyLuv(m): 9:32am On Jun 20

All these leaders have declared war on the people of Nigeria

Nigerians Rise up now and reject these people before it's too late

1 Like

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by tnerro1(m): 9:36am On Jun 20

The same pension money tinubu dey eye to take build infrastructures 😅😁😆😆😁😅😅😂😆😁😅😂

3 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by atobs4real(m): 9:39am On Jun 20

Racoon:
For goodness sake, contributory pension scheme are reserved as last resort and precautionary monies to be fall back upon in case of any unforetold exigencies. Now a govt have afflicted and inflicted it's citizens till the point that pension funds become the last resort now.

Meaning people can't save anymore. You can't imagine the level of hardship in the land. Yet the criminal govt is still bastardizong the nation, borrowing and looting indiscriminately, while asking the docile citizens to continue to brace for more impact of hardship. What a terrible time for this nation

Don't always jump to conclusions without reading the body of the message.
What was withdrawn was voluntary contribution pension which I also have but not yet touched. Our compulsory pension is still their until we retired, dismissed or resign after 3months of any of the happenings.

3 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by hmohammed(m): 9:40am On Jun 20

helinues:
Last resort

You guys are pathetic. Based on policy changes that allows for 25% equity contribution from pension account and the recent policy on frequent access to voluntary pension withdrawal is the reason for this delta. You people are just pathetic and that wont change the fact that Northerners will never vote for Obi. It will never happen

2 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by beejay85: 9:41am On Jun 20

Nice2023:
This has never happened in the last three administrations before APC took over from power.

The bill to access 25% equity for mortgage purpose was passed during Buhari's administration which is a good bill..
How do you expect workers to own homes currently without stealing with the high rate of inflation and it's attendant high cost of goods and services?

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Tommydare(m): 9:46am On Jun 20

I'm surprised as well.

ytdivine:
How possible is it to make withdrawal from one's savings?
What are the processes involved?

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Everlastingson: 9:51am On Jun 20

hmohammed:

You guys are pathetic. Based on policy changes that allows for 25% equity contribution from pension account and the recent policy on frequent access to voluntary pension withdrawal is the reason for this delta. You people are just pathetic and that wont change the fact that Northerners will never vote for Obi. It will never happen

You're so wicked, and foolish also. Your people are dying of hunger and you're here talking about Obi. If you don't vote Obi you will eventually perish with starvation. Since your people have been ruling what has it benefited you? Senseless is your second name. Northerners will vote Obi, you liar. You have only one vote, that's if you manage to survive Tinubu sef. Northerners doesn't mean you. Whether you like it or not Northerners will vote Peter Obi. Brainwashed illiterate.

4 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by 1Alex: 9:53am On Jun 20

Creamypie:
Una never see anything yet. By the time Una retire, no money to build house, pension Una don use buy buns and egg roll chop for mouth b4 retirement. Na only last salary month money Una go get as benefit, which will be consumed by biting inflation. Effects of bad government doesn't discriminate.they were chanting sai bihari in from 2015- 2023, now agbado/emilocant

at retirement, the money no go even reach to build house. Some people have worked for 18 years but their contributory pension never reach 7 million. Even if it reaches 10 or 12 million when they retire, will that amount be able to build a house that time?

5 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Inspirer1: 9:59am On Jun 20

GanagiBitrus:

The pension scheme is a very noble scheme but it has been messed up by the high rate of inflation.
If you had ₦10m saved in your scheme last year, that same amount is now worth less than ₦5m because of high inflation.

Same with saving money in a bank.
The situation is quite terrible.

best thing is to do rather than saving in the bank is to use the money for business, but Nigeira is still happening to that one too, we are in a sorry state all round 😔

3 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by ppogba: 10:08am On Jun 20

rummmy:
PFAs should be paying interest..
Imagine holding someone finds for many years....making use of it without pay interest of a dime and when you want to access your fund it becomes a very long thing..
Ask maina ..

No need advertising your ignorance early morning.

The balance on your PFA quarterly balance changes every quarter as you get your statement of account. Meaning, the money is working and intetest is being earned on it.

I keep wondering how you guys just type out of ignorance. Is it for the likes or what?

5 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by naturefellow(m): 10:08am On Jun 20

Racoon:
You refused to oppose all the satanic oppressive and repressive policies of the wicked Buhari and Tinubu govts but always ready to troll anyone contributing to the liberation of this bastardized nation from the hands of its oppressors.

when calamity befalls enablers of evil, like helinues, nothing, absolutely nothing would save him.

2 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by nedekid: 10:08am On Jun 20

Racoon:
For goodness sake, contributory pension scheme are reserved as last resort and precautionary monies to be fall back upon in case of any unforetold exigencies. Now a govt have afflicted and inflicted it's citizens till the point that pension funds become the last resort now.

Meaning people can't save anymore. You can't imagine the level of hardship in the land. Yet the criminal govt is still bastardizong the nation, borrowing and looting indiscriminately, while asking the docile citizens to continue to brace for more impact of hardship. What a terrible time for this nation

What is the point of the pension in the first place considering the inflation ravaging the country.
Any wise person should go and collect his pension contribution and make us of it to eg buy land or better still, chop the money and know you enjoyed in in your tummy, why? By the time you retire, that money will be worth monthly, a tuber of yam, a pack of benson & hedges etc

1 Like

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Exceed15: 10:09am On Jun 20

Let them take advantage of it to stay alive. Tinubu and his supporters have ruined Nigeria.

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by ppogba: 10:10am On Jun 20

1Alex:
at retirement, the money no go even reach to build house. Some people have worked for 18 years but their contributory pension never reach 7 million. Even if it reaches 10 or 12 million when they retire, will that amount be able to build a house that time?

Educate yourself and know what pension stands for.

It was never designed as the funds to build house.

1 Like

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by fummylolah: 10:11am On Jun 20

I feel in this trying time and economic hardship, The Senate should pass a bill to allow citizens access atleast 50% of their pension contribution. No be person wey survive hard time dey retire to collect pension contribution? leaving the money till retirement age might not be visible in this trying time wher people find it very hard to afford the basics.

1 Like

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by ppogba: 10:13am On Jun 20

Duru009:
Can someone help me the MODALITIES of accessing this Pension FUND......

Thanks

If you have a PFA, you will not be asking this question.

2 Likes

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by PropertyBanker(f): 10:30am On Jun 20

Nice2023:
This has never happened in the last three administrations before APC took over from power.

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by yeshuasfootstep(m): 10:39am On Jun 20

Which same person will leave his money this period?

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by UnknownT: 10:43am On Jun 20

By September I will apply for 25% of my pension money that is with my PFA as I no dey work again

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by PUNANI01: 10:45am On Jun 20

helinues:
Last resort

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Adebaba1(m): 10:46am On Jun 20

Wow
So someone can access pension funds while still working
I thought it is if you are out of job after 2 months
Or you are above 50

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by hmohammed(m): 11:01am On Jun 20

Everlastingson:

You're so wicked, and foolish also. Your people are dying of hunger and you're here talking about Obi. If you don't vote Obi you will eventually perish with starvation. Since your people have been ruling what has it benefited you? Senseless is your second name. Northerners will vote Obi, you liar. You have only one vote, that's if you manage to survive Tinubu sef. Northerners doesn't mean you. Whether you like it or not Northerners will vote Peter Obi. Brainwashed illiterate.

You must be kidding. How can we vote someone that we know is against Islam. We will deal with him in the next election. You think we've forgotten the audio tape incidence?

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Advision: 11:05am On Jun 20

helinues:
Last resort

As APC employed you on non-pensionable commission you cannot understand what the article relates to or implies.

1 Like

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Jughead29: 11:16am On Jun 20

The hardship in Nigeria is already indirectly destroying the future!!!

I just hope people of this present generation won't be coursed by their children for being too coward to save the country from those parasites in power

Re: Economic Hardship: Workers Swoop On Their Pension Contributions by Amedu3: 11:20am On Jun 20

Jughead29:
The hardship in Nigeria is already indirectly destroying the future!!!

I just hope people of this present generation won't be coursed by their children for being too coward to save the country from those parasites in power

Ciao

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