What do you know about social security? Learn top news for Nigerians and some possible solutions for social security disability. Discover how to become protected and change your life.
Social security (or civil safety) arrangements are different collective remedies against miseries of life and deficiencies; from pensions to disqualification compensations, dying payments as well as free (kind of) healthcare and studying.
Social security system
One of the Essential Objectives and Directive Principles that underpin the administration of the Nigerians conduct towards Nigerians is security and prosperity of the people. This is declared as the primordial object of Conduct in Chapter II of the Formation of the Pertaining of Alliance Commonwealth, Nigeria, 1999.
Given the nationwide import of this needed duty, driving the civil safety initiatives became one of the most important constitutional responsibilities of the Federal Government. Civil safety is a shared concern distribution designed to convenient contingencies and other terms of risk to be paid to deprivations or contingencies both. It is widely qualified globally. Social security administration arrangements are also collective remedies against miseries of life and deficiencies; ranging from pensions to disqualification compensations, dying payments as well as totally free healthcare and cultivation.
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Nigeria has spent many years trying various civil safety schemes and techniques. Nonetheless, these have not been successfully implemented. So this has led to instances of alleged peculation, misappropriation of annuity funds, lengthy queues of pensioners to entry annuity funds and in the end, sunk pensioners, amongst the others suffering in Nigeria. In July 2014, the PRA was further re-enacted; retaining a couple of the existing systems under PRA 2004 and improving them.
The highlights of these improvements had: increased grant from employees and employers this to 18% (employee 8% and employer 10%); rose powers for our Pension Commission (PenCom) – the Perpetration is empowered to commence illegal actions against different erring companies; invention of (PPF) Pension Protection Fund – authorities are expected to put aside a minimum (guaranteed) pensions for all contributors.
Employee Reward Act or ECA (Employee Compensation Act) 2010 in action: The ECA, signed into a Nigerian law in 2010 and sufficient 2011, repealed 2004 WCA. Unlike its forerunner, ECA contains large supplies of ensuring employees, who are compensated for different accidents at their work position or outside it. It covers a lot of things: medicine in case of any accident which leads no disability at all, different rehabilitation and payment of good compensation for any disabilities and, of course, death.
Every Nigerian can tell you whether all these laws work. Everything that we have is hope. So let’s hope that social security disability will be on the high level in our country.
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