The Gratuity And Pension Palaver In Adamawa State
By Fenny J Fwa
While in active service before the advent of the present administration, I had for over 7 years made concerted efforts for government to see reason for the pension fund scheme established as it’s been done at federal level which has resonated in some states, especially Kano and Jigawa.
Although it was not my schedule, I had personally raised a memo on the scheme to be established in the state. In addition to sending the memo to government and following up verbally, I even sent a copy to the house of Assembly. As I’m writing now, the scheme has not seen the light of the day. The outcome of the failure of the scheme is an accumulated gratuity areas of about N12b and God knows how these funds will be paid given the paucity of funds in the sate. Notwithstanding the palpable typical Nigerian self created problems associated with the scheme at federal level such as corruption and incompetence, it has recorded phenomenal success with the pension fund reaching about N5 trillion.
If we had established the scheme in the state all the government could do is to deduct the payment of workers by say 10%. This means the salary bill of the sate that is within the region of N2b, the workers’10% contribution will attract N200m monthly and in a year the scheme will be rich by N2.4b. If the sate government contributes 10% of its available revenue in a month which is about N3b, the scheme will be rich with about N300m monthly and in a year it’s rich by N3b. So both the contributory pension scheme from the state government and workers will be attracting the sum of about N5b annually. For the purpose of ensuring that the scheme doesn’t suffer due to paucity of funds, only those that will retire in the next four years will be part of contributory pension scheme so that by the time they retire their cheque will be ready. In four years the scheme will be rich with about N20b in its coffers. purely hypothetical you will say.
For God sake what is so difficult with this simple way of ameliorating the sufferings of the people. I know a lot of people will talk about encumbrances such as corruption and the possibility of government failing to fulfilling its obligation in terms of monthly contribution. There is nothing as bad as not trying at all. History will forgive you for taking a wrong decision, but it wouldn’t forgive you for not taking a decision at all.
We can’t afford to see workers workers living miserably
for several years, waiting endlessly for several years without their benefits and ending up dying because of living in bondage of poverty and penury.
Nigeria labour congress please wake up from your deep sleep and slumber and kick start the long overdue pension scheme that could go along way in aiding in resolving the pension quagmire in the state.
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