News
Retirement under present scheme a death trap – NLC
*Says, nations pension scheme pauperizes workers at retirement
By Francesca Hangeior.
The Nigeria Labour Congress, NLC, has raised the alarm, claiming the present pension scheme is pauperising workers at retirement.
According to NLC, retirement under the present scheme may have become a death sentence for many retirees and this has many consequences for behaviour of workers in active service.
President of NLC, Joe Ajaero, who raised the alarm in a remark at a retirement summit in Abuja, with the theme “Challenges, Strategies, Prospects and Opportunities at Retirement in Nigeria”, faulted the alleged over N360 billion pension arrears owed by the federal government to its retirees.
He said “The pension scheme, as it currently stands in Nigeria, unfortunately falls short of its fundamental purpose; to provide for workers in their old age. The medium for storing Pensions which is the Naira has maintained an unstable value and has kept depreciating over the years. It is only a stable platform that can truly serve as a solid store of value that can sufficiently maintain the value of contributions when workers retire.
“Pensions are meant to offer security and peace of mind, ensuring that retirees can enjoy their golden years without financial stress and in good health. However, the reality for many of us is starkly different.
“It is worrying that most of retired members encounter not just health challenges but many others leading to untimely deaths because of the character and nature of our Pension scheme which pauperises them financially at retirement.
“Retirement under the present scheme may therefore become a death sentence for many and this has many consequences for behaviour of workers in active service.
”The federal government it is alleged owes nearly N260 billion in pension arrears, with federal parastatals accounting for an additional N40 billion. Some states have arrears stretching up to eight years. In the private sector, reports indicate that many companies are in arrears of up to three years, deducting contributions from workers’ salaries without remitting them to the respective Pension Fund Administrators (PFAs).
“In 2021, PENCOM according to its fourth quarter 2021 report, appointed recovery agents realised from 36 defaulting employers N984.23 million, representing N406.42 million as principal contribution and N577.87 million as penalty. The Micro-Pensions designed for the informal sector remain inadequately activated, further complicating the financial security of our informal economy workers.
”The non-contributory Pensions funds are still subject to severe lootings by those who are supposed to manage them without consequences. The Maina and the former Accountant General issues are still very fresh in our minds.
“As usual, people get away with all manners of mind-boggling heist in our nation. We had wished that the various statutory agencies saddled with the responsibility of protecting workers are alive to their responsibilities. These challenges create an atmosphere of fear and uncertainty for the average worker approaching retirement in Nigeria.”
News
See Photos of World’s Tallest and Shortest Women Meet for Afternoon Tea in London
The world’s tallest woman and the world’s shortest woman met for the first time this week, sipping tea from china cups — and bonding over what they have in common while celebrating their differences.
Jyoti Amge, shortest woman, and Rumeysa Gelgi, tallest woman, meet for the first time and share afternoon tea
Rumeysa Gelgi, from Turkey, stands at 7 feet and 0.7 inches, while Jyoti Amge, from India, is 2 feet and 0.7 inches.
Jyoti Amge, shortest woman, and Rumeysa Gelgi, tallest woman, meet for the first time and share afternoon tea
Jyoti Amge, shortest woman, and Rumeysa Gelgi, tallest woman, meet for the first time and share afternoon tea
Jyoti Amge, shortest woman, and Rumeysa Gelgi, tallest woman, meet for the first time and share afternoon tea
“You’re so beautiful,” said Gelgi, 27. “Thank you — you too,” replied Amge, 30.
Their meeting, over afternoon tea at London’s Savoy Hotel on Tuesday, came ahead of Guinness World Records Day, which is held annually in November to mark record-breaking achievements and encourage people to attempt records. The pair have been honored as “World Record icons” in the 70th anniversary edition of the Guinness World Records book.
Story continues below advertisement
“Meeting Jyoti for the first time was wonderful,” Gelgi said in a release Wednesday. “She’s the most gorgeous lady. I was waiting to meet her for a long time.”
Gelgi said the pair bonded over their love for makeup, jewelry and doing their nails.
Video footage showed them sitting down for tea, cakes and sandwiches stacked next to them, with the London Eye visible from the window.
Amge said in the release that she was “so happy to look up” and see the world’s tallest woman, whom she called “good-natured.” She added that it was difficult at times for the pair to make eye contact “due to our height difference.”
“Guinness World Records is all about celebrating differences,” its editor in chief, Craig Glenday, said in a statement ahead of Guinness World Record Day, which is on Thursday.
“By bringing together these two amazing, iconic women, they can share their perspectives on life with each other and, also, with us,” Glenday said.
Gelgi’s record-breaking height is due to a rare genetic condition called Weaver syndrome, which causes rapid growth, according to the National Organization for Rare Disorders.
Story continues below advertisement
The primary symptom is growth and bone development that occurs faster than usual, making those affected taller than average. People with Weaver syndrome may have rigid muscles and difficulty extending their elbows or knees.
Gelgi used a walking aid for support during the pair’s meeting. Her case of Weaver syndrome was the 27th ever diagnosed and the first in Turkey, according to Guinness World Records.
Weaver syndrome is generally caused by changes in the EZH2 gene, according to the NORD, though the organization notes that some people with Weaver syndrome do not have a mutation in the gene.
Story continues below advertisement
Amge, an actor who played the character of Ma Petite in the television series “American Horror Story,” has a genetic growth disorder that occurs in the early stages of fetal development, known as achondroplasia.
According to Johns Hopkins, the condition causes shorter bones, abnormally shaped bones and shorter stature. While the genetic defect can be passed from parent to child, in about 80 percent of cases, achondroplasia results from a spontaneous mutation that occurs in the developing embryo.
On Thursday, Gelgi shared photos on Instagram of the two exploring London despite the cold weather, posing side by side in front of Tower Bridge.
News
Speaker Abbas Decries Gross Inadequacy In Health Sector Despite Annual Allocation
News
Reps Demand Details Of Project Undertaken From Ministry Of Solid Minerals In 2024 Budget
-
News15 hours ago
DHQ Gives Updates on on Arrest, Trial of Simon Ekpa in Finland
-
News15 hours ago
Japa: 1 of 4 Nigerians want to leave the country – NBS
-
News14 hours ago
Senate mandates military to free LGs under B’Haram control
-
News14 hours ago
OUTREACH: Senator Manu concludes 2-day ICT program for constituents, distributes over 500 laptops to students (Video/Photos)
-
News14 hours ago
2027: Obasanjo’s knock on INEC reopens push for electoral reform
-
News15 hours ago
I’m not too young or inexperienced to run for Lagos Governor – Speaker Obasa
-
News15 hours ago
Simon Ekpa Sent To Prison
-
News15 hours ago
Nigerian Catholic religious Sister Uti wins $1.2 million Opus Prize