Pensioners uncover plot to defraud members

In from Ali Smart …
‎The Federal University Pensioners’ Association (FUPA) has uncovered an alleged plot by a federal government agency, Pension Transitional Arrangement Directorate (PTAD,) to defraud its members.
The pensioners sent a ‎’Save Our Soul’ to President Mohammadu Buhari to intervene and checkmate the “well-designed plot to make life more difficult for us in spite of our vulnerability.”
Speaking at the Centre for Awolowo Philosophy, Ideology and Good Governance in Osogbo, the Osun State capital, the chairman of the Obafemi Awolowo University chapter of the Federal University Pensioners Association, Comrade Joseph Olulayo Akintaro, said the agency was planning to bring the FUPA under its direct management to make the plot successful.
Specifically, he accused the PTAD of fixing in the bank, over N1.2 billion June 2015 pension fund of his members for one week in order to attract interest from it to itself.
Akintaro, who disclosed that PTAD was established by the former Finance Minister, Mrs. Ngozi Okonjo-Iweala‎, to manage pension funds of 378 agencies, maintained that the load of many agencies on PTAD could be counterproductive and eventually promote corruption.
Echoing similar sentiments, the Director General and Chief Executive Officer, Centre for Awolowo Philosophy, Ideology and Good Governance, Prof. Moses Akinola Makinde, said delaying payment of pensions under any guise should be discouraged.

Read also: Pension funds hit N4.9tn

Makinde, said PTAD should be made to pay the N1.2 billion pension it fixed in the bank with the interest to the beneficiaries.
While noting that pension funds should not be subjected to taxation, Prof Makinde declared that it was criminal to deduct between 20 and 33 per cent tax from the nation’s senior citizens, who had contributed to the national growth.
He said: “Pensioners are well treated in civilised countries like Britain, the US and others where they enjoy heavy welfare packages like free transport, highly subsidised houses, food and medicare, none of which is within the reach of Nigerian pensioners. It is regrettable that the young are cheating the aged.
“Only a corrupt government would watch when an agency is appropriating the sweat of the senior citizens under a very dubious scheme. Staggering of pension payment must stop. Those indulging in this act are doing so to delay payment and accrue interest from the fund to themselves. This is a wicked act”.

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