Pension

Using pension fund for COVID-19 palliatives – Stakeholders react

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Chuks Udo Okonta

Stakeholders have continued to react to the article entitled: Using pension fund for COVID-19 palliatives written by the Director, Centre for Pension Right Advocacy, Ivor Takor and published by Inspenonline on Saturday, April 25, 2020.

These are some of the reactions made by concerned stakeholders.

Muhammad Hussaini: Pension fund has been privatized, hence it is individual citizens money who do not even have the right to withdrawal it except for the purpose of pension at retirement. This is the only guarantee for senior citizens of the country who had service Nigeria in different capacity.

Joe Oyegoke: Consideration the principal objectives for which the fund was established; which is ensure that every person who worked in either the Public Service of the Federation, Federal Capital Territory, States and Local Governments or the Private Sector receives his retirement benefits as and when due; and assist improvident individuals by ensuring that they save in order to cater for their lively hood during old age.
IT’S NOT WISE TO EVER THINK OF USING THE FUND.

Funmi Komolafe- Jolaosho: Thanks Comrade Takor. I’m pleased that the leadership of the NLC bluntly told the Presidential Task Force that using the funds for COvid 19 is must not be done . I give you more kudos for reminding us all of the legal issues as it relates to Pension Fund. Thank you so much.

Chinwe Udogu: This should never never be allowed. We say CAPITAL NO

Godfrey Ugwu: It will be suicidal for Nigerian Government to touch our Pension fund. All facilities should be used to stop them(Government) Remain blessed for your efforts.

Sylvanus Ibe: When you go hunting with out a plan, you kill animal with out a name. The low or no demand for our crude oil during covid -19, must not give room to rush pension fund for palliatives. Kudos to Takor.

Joe Oyegoke: It’s not acceptable consideration the principal objectives for which the fund was established; which is ensure that every person who worked in either the Public Service of the Federation, Federal Capital Territory, States and Local Governments or the Private Sector receives his retirement benefits as and when due; and assist improvident individuals by ensuring that they save in order to cater for their lively hood during old age. consideration the principal objectives for which the fund was established; which is ensure that every person who worked in either the Public Service of the Federation, Federal Capital Territory, States and Local Governments or the Private Sector receives his retirement benefits as and when due; and assist improvident individuals by ensuring that they save in order to cater for their lively hood during old age.

Tonye Agbasa: My Oga, you have said it all. Contributory pension fund, is a contribution made from workers hard earned money. Therefore, nobody should play with it. Those planning or thanking to touch that money should know that, that is live time earnings to retirees. I thank you for throwing more light on the use of the fund.

Ugbor Tina: Pension fund is the sweat of workers. They worked for it. Please it should not be touched.

Sylvanus Ibe: Please tell them we do not want corona-2 in Nigeria, that is where you have money you cannot access due to lack of cashbacking and die as a result of hunger. A tree that makes noise before falling does not kill any body.

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