ASCSN to Govt: Protect Pension Funds

Association-of-Senior-Civil-Servants-of-Nigeria-ASCSN LogoThe Association of Senior Civil Servants of Nigeria (ASCSN) has urged the Federal Government to offer ‘adequate protection’ to the N5.3 trillion workers contributory pension funds.

Its President, Comrade Bobboi Bala Kaigama said the fund is workers’ money meant to offset their terminal benefits when they retire.

He said: “We are worried and disturbed that government functionaries are now making persistent efforts to lay their hands on the contributory pension funds in the name of funding infrastructure.

“We say capital ‘NO’ to this retrogressive move. Our officials need to understand that the pension funds are not idle funds, but are funds invested mainly in safe instruments like money and bonds markets. We make bold to say that our country is not yet ripe for utilising pension funds for building infrastructure.

“Our federal, states and local governments are corrupt and incompetent in recovering public funds. We, therefore, strongly advise government to look elsewhere to raise funds for their projects. Contributory pension fund is a no go area and workers and their unions are more than prepared to fight with everything they have to resist pressures to touch and toy with workers future.”

He called for stiffer sanctions for those who looted pension funds, saying that this would act as deterrent to others.

He appealed to the federal and state governments to ensure that pensioners were paid their gratuities and monthly stipends promptly.

Culled from The Nation