By Toyin Saheed
The organised labour under the umbrella of the Association of Senior Civil Servants of Nigeria (ASCSN) has lend its voice to the call for the review of the contributory pension scheme currently operating in the country.
The union decried the current practice where retiring workers are given an infinitesimal fraction of their contributions as lump sum and a large chunk kept aside to be paid as annuities was unjust and a rob-off on the helpless workers.
The renewed call was made on Tuesday at the 2017 annual seminar of the Ekiti State Chapter of the association held in Ado Ekiti.
In his address, the Chairman, Comrade Abolarin Akinyemi canvassed for the upward review of the lump sum from 25% to 50%.
Speaking further, Comrade Akinyemi faulted the failure of many employers including some State Governments to bring the monthly contribution to the statutory minimum of 10% and 8% for the employer and employee as enshrined in the Pension Reform (Amendments) Act 2014.
In the same vein, the Secretary, Barr. Mohammed Bashman said the old defined benefit scheme has proven to be unsustainable and conduit pipe for fraud. The seminar themed; ‘Dispute Resolution Mechanism in the Public Sector’ was presented by the state Controller, Federal Ministry of Labour and Employment, Com. Olayanju Omoniyi Mudasiru.
