Comment on PenCom under pressure to invest pension funds in new scheme by Ochendo

While such quantum of fund is available via the investment proceeds,the pensioners have continued to earn mere stipend.it has become imperative to review upward the monthly payments and introduce periodic bulk payments(say every five years).these measures will greatly empower the pensioners and elongate their lives.many die out of frustration especially people still shouldering family financial responsibilities.the pension law needs another provision in this regard.it does not sound rational that a retiree’s monthly proceeds of the investment of their funds by PFAs is over N200,000 while the pensioners are paid less than N40,000.what happens to the over N160,000.indeed,this left over is the pivot of the sustained increase in pension fund.so while we see growth in industry portfolio reflective of economic trend,the pensioners are stagnant and therefore easily financially distressed.

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