DEMAND AN END TO THE DECRIMINATION TO PENSION REFORM ACT 2014, NOW!

I write to request for your urgent intervention for the release of my RSA fund to me.
I recently resigned my employment from uac of Nig. Plc with the aim of starting up my own business. As the custom was in uacn, upon attainment of retirement age or retired/retrenched/resigned from the services of the company.

The employee is presented with options to choose ranging from: collecting all of his/her entitlement lump sum or to subscribe to the pension scheme of the organization.

However, since the commencement of the Pension Reform Act 2004 uacn has removed the option of whether an employee collects all of his/her final entitlement or subscribing to the pension scheme of the organization and replaced it in line with the Pension Reform Act 2014 (PRA 2014) and rules and regulations of the commission.

It appears that the PRA 2014 is anti-people, a possible violation of fundamental rights, anti-democracy, discriminatory etc.

The objective of the PRA 2014 states that:

Part 1(c) ensure that every person who worked in either the Public service of the Federation, Federal Capital Territory, States and Local Governments or the Private Sector receives his retirement benefits as and when due: and

(d) assist improvident individuals by ensuring that they save in order to cater for their livelihood during old age.

I am not improvident. I have the mind of Christ, Jesus Christ is my wisdom, I am the anointed of the Most High, I am blessed, the Almighty God is my source.

To buttress this, I have two houses: a six bedroom and 4 bedroom standard apartments. I am a shareholder of Zenith bank, I am a farmer to mention but just few.

What Nigerians really need at the moment is EDUCATION and not some sort of restricting accessing their hard earned funds. The current administration of President Muhammadu Buhari is doing justice to that.

It is worth noting here that some employees who resigned/retrenched/retired are forced out or retained in the scheme unwillingly!

To buttress this, in uacn for instance, employees who have N3m and below in their retirement saving accounts (RSA) upon resignation, retrenched or retired are paid off all of their entitlement lump sum while employees with more than N3m in their RSA are automatically placed on pension.

Also, the PRA 2014 states that if an employees dies the whole of his/her entitlement would be given to his/her beneficiaries. The question I want to ask here is: Is it the beneficiaries that can well manage the employee's fund?

My bible tells me that a good man leaves an inheritance to his children’s children.
Most of the banks and insurance companies have various products for senior citizens ranging from life insurance, senior citizens accounts etc. with load of good benefits.

However, the PRA 2014 is an infringement of my belief. Therefore, I urge you to intervene for the immediate release of my RSA fund to me.

Thank you,