Pension funds under threat, says NLC

The President of the Nigeria Labour Congress, Ayuba Wabba, has said that the Pension Fund is under threat from the government and employers of labour in the country.

He said that monies deducted from the salaries of workers were not being remitted to the beneficiaries’ accounts as provided for in the Pension Act.

Wabba, who made the comment at the ongoing 14th NLC’s Rain School with the theme ‘The Labour Movement and an Alternative Development Strategy’ in Uyo, the Akwa Ibom State capital, alleged that many employers of labour including the government had not remitted their contributions to the Pension Funds Administrators in the country since October, 2015.

He said that the NLC would resist the violation of the Pension Act as the money was being threatened by the non-remittance of the contributions of the workers and employers to the PFAs.

The NLC leader said that the workers’ union would devote its energy and resources to address the issue of the non- implementation of the Pension Act.

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