Thousands Of Foreign Nationals And Nigerians Opt-Out Of Pension Scheme – Nigerian News – African News Network | Latest African News | Nigerian News | Breaking News
Connect with us

Nigerian News

Thousands Of Foreign Nationals And Nigerians Opt-Out Of Pension Scheme

Published

on

Thousands Of Foreign Nationals And Nigeria Opt-Out Of Pension Scheme

Foreign nationals working in Nigeria, along with some Nigerian retirees, have opted out of the contributory pensions plan in the country and have withdrawn all their contributions from their retirement savings accounts.  They have taken a total of twenty-five billion naira out of the scheme.

READ:  ASUU Receives Licence Certificates To Run Pension Scheme

Many of the foreigners have also decided to return to their countries after their work finished in Nigeria.

The National Pension Commission said on Wednesday ninety thousand of these were from the private sector, twenty-seven hundred and sixty-three hundred were respectively from state service and federal establishments.

READ:  Cross River Garment Factory Unveils New Range Of Wears

The commission also said it approved lupsum withdrawals for retirees who had insufficient balances to warrant a programmed withdrawal or annuity of a reasonable amount over an expected life span.

The commission also said most of the retirees with low pensions were those whose employers in private, state and federal establishments deducted their monthly salaries but not remitting the deducted amounts to their pension fund administrators.

READ:  Nigeria Remains Biggest Economy In Africa

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nigerian News

INEC Includes Zamfara APC Candidates In 2019 Elections

Published

on

By

INEC Includes Zamfara APC Candidate To Participate In 2019 Elections

Independent National Electoral Commission has included All Progressives Congress candidates in the governorship, National and State Assembly elections. The commission says their inclusion is in compliance with court order.

READ:  Oshiomhole: Lawmakers Quibble

As seen on INEC official Twitter handle:

Continue Reading

Nigerian News

Kaduna CP Faults El-Rufai’s Figures On Adara Killings

Published

on

By

Kaduna CP Faults El-Rufai's Figures On Adara Killings

Kaduna State Commissioner of Police, Abdulrahman Ahmad, has faulted figures given by Governor Nasir El-Rufai on the number of people killed in the crisis in Adara, Kajuru local government area of the state.

READ:  APC Presidential Aspirants To Pay N45m, Female Aspirants Get 50% Discount

Ahmad says the governor pre-empted police investigations.

Governor El-Rufai had said earlier that 66 Fulani were killed in the local government. Later, he jacked up the figure to 130.

READ:  FG Reaches Agreement With ASUU Over Industrial Action, Pension

Ahmad says investigations were still ongoing and it would be inappropriate to provide any figures at this time.

Continue Reading

Nigerian News

Ogun PDP Crisis Deepens As Party Suspends Abati, Sowunmi, Others

Published

on

By

Ogun PDP Crisis Deepens As Party Suspends Abati, Sowunmi, Others

The crisis rocking the People’s Democratic Party in Ogun State worsened on Thursday as a faction loyal to a member of the House of Representatives, Oladipupo Adebutu, suspended, for anti-party activities, a deputy governorship candidate, Reuben Abati; spokesperson of the Atiku Abubakar campaign organisation, Segun Sowunmi; and 37 candidates of the party loyal to Kashamu.

READ:  More Than 120 Maternal Deaths Recorded In Kaduna State In 2018

The faction led by Sikirulai Ogundele says the suspension is at the instance of the ward and local executive committees which noted that affected members failed to appear before them and also did not respond to queries served on them.

READ:  Anambra Flood: Death Toll Rises To 4

Continue Reading

Trending

Subscribe to ANN News Alert

Be the first to receive the latest news from Africa and around the world.

%d bloggers like this: