Workers task FG on N5.3 trillion pension funds

By Moses Ebosele – 
 Rising from its National Delegate Conference (NDC) in Abeokuta, Ogun State, Association of Senior Civil Servants of Nigeria (ASCSN) has appealed to the Federal Government to offer ‘adequate protection’ to the N5.3 Trillion workers contributory pension funds.
   In his address at the conference held on Wednesday, President of ASCSN, Bobboi Bala Kaigama said the fund is “purely workers money meant to be used to offset their terminal benefits when they retire”.
 Kaigama, who spoke on sundry issues said: “We are, however, 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 utilizing 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”, Kaigama added.