MakaPensions

11/03/2025

Before sending that Urgent 2K to him or her, ensure that you have done urgent 2k for your Retirement Savings Account, e get reason why, thank me later

11/03/2025

SAFETY OF THE PENSION FUNDS vs HOUSING DEFICITS IN NIGERIA
Someone has been on my timeline zealously arguing on how Nigerian Pension Funds under the Contributory Pension Scheme (CPS) is not doing its work because the funds have not been used to fund housing deficits. I tried severally to convince him that there are Real Estate Investments Trusts (REITS) components in the Portfolio of Pension Fund Administrators (PFA); additionally, there is 25% MORTGAGE EQUITY provisions for all Contributors - therefore, the CPS has contributed in the area of housing deficits. Every Retirement Savings Account (RSA) holder is entitled to the Mortgage Equity so far you are not retired and have more than 3 years to retirement. Also, the CPS Funds are supporting in other infrastructures as well through Bonds Subscriptions - SUKUK, Green bonds etc,.
I see the quest and campaign for the use of Pension Funds for housing deficits as a misplaced priority. We have the FEDERAL MORTGAGE BANK OF NIGERIA (FMBN), a government agency, where every worker is by law compelled to make contributions into it to tackle housing deficits. Nigerians should focus on asking for accountability in that Government Agency to provide accounts of her stewardship. If you have contributed there, you can access the fund before and or after retirement, the Agency should provide details and guidelines and make their operations very transparent to Nigerians. Oh, the Agency that fired his staff for exposing fraud! and has been in court ever since. Next day story.
Pension funds are meant to provide support for retirees during their vulnerable days of retirement. All the checks and balances around it is very critical for its continuous success. Even though, may be, just may be, sometimes in the near future full housing programmes may come from it, for now it is a NO, NO because of the precarious nature of our country. If you move the funds to housing, it may never be accounted for and that means jeopardizing the future of contributors. Anyone that wants to fix housing deficits in Nigeria should channel their energy to FMBN and make the Agency responsible and accountable; and to our governments to prioritize development over extravagancy and life of opulence and luxury to the detriment of the populace and their policies should stop being for themselves.
SHOULD PENSION FUNDS FUND HOUSING DEFICITS IN NIGERIA NOW? - NO! What do you think?
Pension Commission, Fund Operators Association of Nigeria (PenOp)

21/08/2024

IMPROVING THE CONTRIBUTORY PENSION SCHEME IN NIGERIA
There are many reasons that Retirees especially Federal Civil Servants criticize the Contributory Pension Scheme (CPS) while lauding the Defined Benefit Scheme (DBS). Four major reasons are:
1. DELAY IN PENSION PAYMENTS: Federal Government's Delay in the release of BONDS of retirees, sometimes almost two years would have passed before the release of the bonds, hence, no pension, no income for such retirees, bringing untold hardships to them.
2. The Seemingly higher amounts under the DBS over the CPS.
3. CPS elimination of Corruption and inefficiencies in the DBS especially those who benefits from it
4. Those corrupt officers while in the office who can no longer fund their consumption pattern using their pensions are always lamenting.
This has been the case, when one has been stealing and living above ones income, when retirement sets in, you will see this campaign of calumny against the Contributory Pension Scheme. The Government knows better and won't go back to DEFINED BENEFIT SCHEME(DBS) Let's get the facts clear, is there room for improvement on the CONTRIBUTORY PENSION SCHEME (CPS), YES! How on earth would you move from a FUNDED SCHEME back to an UNFUNDED SCHEME?
1. Government at all Levels should increase the level of their Contributions to the workers
2. Governments should not only remit but remit timely to enable the PFAs make judicious investments and gain returns before retirement to increase fund balance
3. The FG should make consciousness efforts at timely disbursement of BONDS for RETIREES to enable early access to their pensions after retirement
4. Workers at all level whether public or private should know that they share a responsibility now on the size of their pension package and should be encouraged to do VOLUNTARY CONTRIBUTIONS to increase their pension funds before retirement
5. Government at all level should consider grants enhancements for their workers especially under the CPS at intervals outside their pensions
6. PENCOM has a responsibility to continuously educate the people on the CPS modus of operandi
7. Today, you can process your pension from anywhere without knowing anybody, bribing anybody or travelling, including all your verifications in the comfort of your house.
The defunct DEFINED BENEFIT SCHEME (DBS) created a monster of Corruption even under PTAD now, you will quickly remember MAINA and SHAIBU, that's the one we know. It also has gross inadequacies including poor data management, the lack of funds to pay gratuity and pension after retirement causing death and suffering, the verifications risks in travelling from one place to other, avenue for Vendetta, and so many untold deficiencies. The CPS is making progress and can only get better as the economy and it's operations improves.
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31/07/2024

Have you checked your PENSION ACCOUNT TODAY? I mean your RETIREMENT SAVINGS ACCOUNTS, (RSA), Have you checked it today?
Did you you say you do not know what an RSA is? I heard him saying that he does not have a Pension Account and how does it even work?

Wow...let us talk about it briefly.
1. If you are working in any organization, Government (Public) or Private, your EMPLOYER is mandated to Open a Retirement Savings Account (RSA) (Pension Account) for you with a Pension Fund Administrator. The Employer should be paying money into that account every month for you to prepare for your retirement. So, ask yourself, that company you are working for 5 to 15years now, when you retires, what is in it for you. OPEN A PENSION ACCOUNT TODAY. ASK ME HOW.
2. If you are in your private business, MamaPut, Chemist, Okada Rider, Transporter, Bricklayer, Mason, Almaco, Petty Trader, even the one at Ogwumabiri and Okpu Omama, you can do pension for yourself, where you can be keeping money for yourself in preparation for Retirement - Old Age. If you do not have a Pension Account yet, now is the time. Ask me, How?

Engage, let us talk about your pension or pension for anyone you know about with a Pension challenge.

We are MAKAPENSIONS!!!

29/05/2024

The PENCOM Guidelines on RSA Balance for Mortgage Equity enables RSA Holders to use 25% of their RSA Balance for Mortgage Equity. We are here to support you and guide you to make your dreams of a becoming a Landlord come true

14/04/2024

Pensions in Nigeria is a big problem for many. Even those that are formerly employed have different challenges while those in their private businesses have little or no interest in pensions. Worse still those that have pension with PFAs have diverse experiences in accessing their pensions. MakaPensions is a registered trademark to help support workers at all levels to: 1. Provide pensions for themselves and their employees irrespective of the nature and type of business (work) you are doing. 2. To assist those with RSAs in getting timely and accurate information about pension administration and regulation especially regarding how to access their benefits 3. Assist all who have challenges with their PFAs in resolving any issue including but not limited to Remittance and Contribution issues.
Additionally, we support Employers in Processing their PENCOM COMPLIANCE CERTIFICATE, Generating Employer Code, resolve remittance and contribution challenges.
Pension Funds Administrators and Custodians (PFAs) and (PFCs) in Remittance Schedule Retrievals, RSA Generations and RSA Transfers.
We provide insights to government and regulators on improving the policies on pension administration.
We have community outreaches to bring pension administration to the grassroots. This is the First ever Independent Voice in Pensions in Nigeria and Africa.
Let us know what your pension challenges are irrespective of the type, nature and PFA or institution involved, we will help you pull through. Joi MakaPensions today.

11/04/2024

Pension Administration in Nigeria has since been treated as the story of the Four (4) blind men and the big elephant. The First man touched the ear and said it was a fan; the second touched the leg and called it a Pillar; the third touched the stomach and called it a wall and yet the fourth touched the tail and called it a rope. Look no further, all the confusions about pension is resolve here. MakaPensions® is here to guide you and provide all the support you need all the way from onboarding to benefits payment. Join this pension saving boat for all engagements, interactions and solutions.

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