Basil Obuh had his salary deducted for pension contribution every month for the 14 years he worked for John Holt PLC, a leading conglomerate in Nigeria that engages in assembling and distributing power generators, building of boats, fabrication of industrial and agricultural equipment amongst others from 1987 to 2001 when he was retrenched in the commercial city of Lagos State.
To his bewilderment, all he found, when it was time to withdraw his entitlement from the Pension Fund Administrators (PFA) was a meagre N5,431.
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| Obuh’s retrenchment letter. Photo credit: Foundation For Investigative Journalism |
While speaking to a reporter from the Foundation For Investigative Journalism, FIJ, Obuh said: “I was employed in 1987, and I was retrenched as a warehouse manager in 2001, I visited my Pension Fund Administrators (PFA) in March to check my balance, only to discover that there was only N5,000 in my account balance.”
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| Obuh’s pension details Photo Credit by Foundation For Investigative Journalism |
Obuh then reached out to JOHN HOLT on countless occasions, requesting for them to post his detailed pension contributions but was ignored.
“I sent several emails to remind them, but they have not been forthcoming, It has been over three months now since I requested my statement of contributions to the PFA, and nothing seems to be in the offing.” He said
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| Photo Credit: Foundation For Investigative Journalism |
“At this stage, I don’t want to wait until eternity because I am sensing foul play. This is because my contributions from my payslip don’t match what is stated in the PFA statement.”
Looking through Obuh’s pension documents, it was obvious that there were deductions of N100 on some of his remmitances and N384 on some others with N84 being the highest total monthly contribution accrued to his pension fund and was credited for only 49 months between his working years of 1987 to 2001, precisely from July 1994 to January 2000.
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| His payslips Credit: Foundation For Investigative Journalism |
The company, at the time of this report is yet to respond.
Story Credit: Foundation For Investigative Journalism
Some companies are so mean honestly
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