Non-remittances impact negatively on pension growth - Obi
Head of customer relations management of Trustfund Pension Limited, Ms Rachel Obi, has said that non-remittances by some private sector employers in the country impacts negatively on the growth of the contributory pension schemes.
Obi, who made this known during a retirees’ forum organised by the company, said youth unemployment has also affected the growth of the scheme.
“The private sector employers are not remitting. And once you ask them, they will tell you that business is not moving. So, we are having a lot of unfunded accounts.
“Majorly we all know that unemployment is a major problem. We have lots of youths without employment. You don’t expect number of contributors to grow, when we have employment issues.
“State governments, we also have that as a challenge. They were supposed to have signed on with this scheme and remit for their workers. So far we can count on our finger tips number of states that have signed up for the scheme”.
She, however, expressed optimism that it was not all gloom as they are hundreds of people who still see pension as a veritable investment.