PENSION FUND IN TROUBLE?

....as fear grips Pension contributors over FGN plan to borrow the fund

It appears the Federal Government of Nigeria is making real its suspected move to borrow pension funds.

Those already on pension and those contributing to the pension fund might definitely be affected if this comes to reality.

The Old pin for a  Pensioner is Pen100327695711 and this is believed to be the new pin Pen100327385822 IBTC PENSION purportedly sent to him.

Effort to reach the Director General as at Press Time at
National Pension Commission in Wuse zone  5, Abuja were abortive.

The Federal Government was quoted earlier as saying it may borrow Pension Money, these some obseevers, pensioners and workers fear will not augur well for the owners of the fund when they need it.

Some think, its not going to be  a clear and thorough process and may lead to another monumental FRAUD.

It is not also clear, if NLC and the Pensioners Union, owners of the funds are carried along.

A person has an old pin since 2007 and suddenly another new pin was generated for him, while, it is believed that the Pension Rule, says the earlier number is the real number which is why they might have scooped someone's money away,

For instance, that pin quoted above is for a contributor who was originally given a pin and the money has accumulated to N1.5m on that pin and now they brought another new pin which has just N56,000 left as balance, meaning the account has being deflated by N1.450m to unknown source.

We hope to get on the matter and update you.

WE BROKE THE NEWS...
Watch out!