Wednesday, 28 May 2014
Nigeria’s pension assets hit N4tr
Nigeria’s pension assets hit N4tr
The National Pension Commission (PENCOM) said on Tuesday that pension assets are now in excess of N4tr ─ compared to liabilities of over N2tr before reform 10 years ago.
Mrs Chinelo Anohu-Amazu , Acting director-general of PENCOM, disclosed this to the media in Abuja. The news conference is to herald the African World Pension Summit to be held in Nigeria in July.
Anohu-Amazu said more than 98,000 workers had retired so far and were receiving retirement benefits “as and when due”. “In the past, they joined long queues, in fact some even died in the process, in terms of safety, the pension fund assets are ring-fenced,” she said. According to her, the pension journey has been very challenging, but when one looks at the success recorded, it is inspiring. “Concerned by the magnitude of issues and lack of transparency in pensions in Nigeria, the then President Olusegun Obasanjo constituted a Pension Reform Committee. “It was the committee’s work that culminated into the PRA 2004. At the time, there were lots of apprehensions on the part of stakeholders. “Their concerns were understandable, considering outcomes of other reforms by government in the past. “Ten years now, I am glad that having seen PenCom’s steadfastness in protecting the interest of retirees, labour is one of our greatest supporters”, she said.
Mr Eric Egginu, Chairman, World Pension Summit, said it was formed five years ago and the focus of this year’s summit was on Africa. Egginu said about 55 African countries would be in attendance, adding that the summit would be the first to be held in Africa. He said that the summit would share ideas and knowledge to improve the pension system on the continent. He said the summit would change the lives of the people and bring about unity, peace and development in Africa and the world in general. According to him, “when we talk of pension, we talk about our lives. Pension is not all about saving money, it is about taking care of our lives.” He said he was happy to be in Nigeria for the summit.
Chairman of Pension Operators of Nigeria and Managing Director of Legacy Pensions, Mr Misbau Yola, said the reform was responsible for the tremendous successes of the scheme.
Source The Cable
Read more at: http://www.thecable.ng/nigerias-pension-assets-hit-n4tr-and-counting/ | TheCable
Sunday, 25 May 2014
The secret link between money and happiness
The secret link between money and happiness
Can money buy happiness? Should salaries stay secret? (Getty Images)
You’ve heard the
saying, “money can’t buy happiness,” but what if a certain amount of money
actually does make you happier? And don’t people feel unhappy when they learn a
colleague is earning more money for doing the same amount of work?
At the very least, money, or lack of it, can bring some level of joy or despair.
At the very least, money, or lack of it, can bring some level of joy or despair.
Felix Salmon, senior editor at Fusion
“Very few people like to talk about how much money they make — especially not people who earn a lot of money,” wrote Salmon in his post Why Salaries Shouldn’t Be Secret, in the wake of news that recently-departed New York Times editor Jill Abramson had started asking questions about the pay discrepancy between her and her predecessor. “Since companies tend to be run by people who earn a lot of money, the result is a culture of silence and secrecy when it comes to pay.”
There are several surprising reasons “secrecy surrounding pay is generally a bad idea for any organisation,” Salmon wrote.
“For one thing, secrecy about pay is bad for women, who are worse at asking for raises than men are. If men secretly ask for raises and secretly get them, while women don’t, then that helps to explain, at least in part, why men end up earning more than women,” Salmon wrote. “Secrecy around pay is also a great way to allow managers to — consciously or unconsciously — play favorites with their staff.”
“We’ve all worked in companies, I’m sure, where the only way to get a substantial raise is to confront management with a job offer from somewhere else,” he added. “That’s clearly a dreadful way to run a company, since it gives all employees a huge incentive to spend a lot of time looking for work elsewhere, even if they’re very happy where they are.”
“If you work for a company where everybody knows what everybody else is earning, then it’s going to be very easy to see what’s going on. You’ll see who the stars are, you’ll see what kind of skills and talent the company rewards,” he wrote. “You’ll also see whether men get paid more than women, whether managers are generally overpaid, and whether behaviour like threatening to quit is rewarded with big raises. What’s more, because management knows that everybody else will see such things, they’ll be much less likely to do the kind of secret deals which are all too common in most companies today.”
Bruce Kasanoff, ghostwriter and speaker
Maybe money does buy happiness. Or some money, that is. At least that’s the case according to recent research from Princeton, yielded from a survey of 450,000 people.
The research found that emotional well-being is fully realised at an annual income of about $75,000. But not more.
“In other words, when it comes to money, there is a glass ceiling for its ability to bring you happiness,” wrote Kasanoff in his post $75,000 Buys Happiness; More Money Does Not. “This makes intuitive sense; if you can't afford a decent place to live or enough food to feed your family, more money substantively improves your situation. But few would agree with the statement that the happiest moments of their life was/were when they had the most money.”
The researchers examined emotional well-being, rather thanlife evaluation, wrote Kasanoff. “Emotional well-being is what they equate with happiness. It involves the emotional experiences you have on a day-to-day basis... being delighted, sad, frustrated, excited, lonely or fascinated,” he wrote.
What does all of this mean, then, in terms of money and happiness?
“If you double your salary, say to $150,000, you will probably increase your intellectual assessment of your life,” Kasanoff wrote. “But doubling your salary won't necessarily give you more joy, day-to-day. It won't make you more excited by your work or help you feel closer to your friends and family.”
Culled from BBC NEWS Capital
Be an owner in the new social network ,It is all free- GlobAllShare.com
Be an owner in the new social network ,It is all free- GlobAllShare.com
Be an owner
The largest social networking
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Each member of GlobAllShare, who
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Have your share from the global profit
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you will also get 1 more GlobAllShare share.
If you have invited 5 of your
friends successfully, you will get 1 GlobAllShare share straight away.
But you may not merely get shares after inviting your own acquaintances,
but after each further user invited by your acquaintances as well,
moreover after your friends' acquaintances too, because through 7
subsequent levels after each of your friends, who realizes 5 successful
invitations you will also get 1 more GlobAllShare share.
Continuous income
After your interests in the
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If you have invited 5 of your
friends to the GlobAllShare community successfully and your invited
friends also invite 5 of their friends in 7 subsequent levels following
you, then you may be entitled to the following dividend in each month.
| level 1 | 5 Invitees | 1 GAS share |
| level 2 | 25 Invitees | 5 GAS share |
| level 3 | 125 Invitees | 25 GAS share |
| level 4 | 625 Invitees | 125 GAS share |
| level 5 | 3 125 Invitees | 625 GAS share |
| level 6 | 15 625 Invitees | 3 125 GAS share |
| level 7 | 78 125 Invitees | 15 625 GAS share |
| Total | 19.531 GAS share |
You can monitor the number and value of your shares as well as the sum of your monthly dividend at the WebOffice permanently.
Instant money
As a member of the GlobAllShare community you may not only get a monthly income in the form of dividends, but a large amount of money as well since you may sell your shares immediately.After the global launching of this venture you may sell your shares at face value, thus making a large amount of money instantly. Let us take an example: if the face value of the shares is $10 after launching of the business and according to the example above you own 19,531 GlobAllShare shares, you can sell them for altogether $195,531, so you earn a great sum immediately. Obviously, the face value of the shares may easily reach $20 or $40 per share, depending on the number of persons using the GlobAllShare community portal throughout the world.
It should be noted that the users may acquire GlobAllShare shares only during the term of pre-organisation in line with their performance, therefore, at the global launching of the venture only those will have shares who contributed to the development of the GlobAllShare.
After the initiation of venture not any further shares will be issued, thus shares may be purchased from those exclusively who were involved in the global establishment of the network and received shares for their contribution.
Click here or copy and paste https://www.globallshare.com/en/2293527.html
Best regards,
The globallshare team
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