Published On: Tue, Dec 11th, 2012

Shell Pensioners Protest against Propose Shift in Pension Policy

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By Socrates Odje, Warri.
The Shell Pensioners Association Warri Chapter has said that the purported Management Shift in Pension’s Philosophy which proposes one lump annuity against the current monthly annuity would be counterproductive, retrogressive and hasten the demise of many pensioners.
The Shell Pensioners made the call in Warri, Delta State weekend during the Pensioners Day celebration.
The Pensioners also reiterated their call for a seat in the Board of Shell Pensioner regulatory body, SNCPFA.

According to Rev. Okpah Udensi, Chairman Warri Chapter in his address, he pooh-poohed a proposal seeking one time lump annuity payment which will see the pensioner cut-off from benefiting continuous medical services.
In his words, “The Association is concerned by rumours making the rounds that Management intends to shift its pension’s philosophy from monthly annuity to a one-time lump payment.
“A move in this direction would be counterproductive and retrogressive and would inadvertently hasten the demise of many pensioners. We consider the rumour as baseless and without merit as Management has not come out to say so.”
The pensioners however commended Shell management for a change in current status of pensions owing to October 2012 position but still look forward to resolution of harmonization issue.
Earlier in his welcome address, Mr. Frank Efeduma, Chairman of occasion thanked Shell for its medical scheme for pensioners which have helped to keep them alive since retirement.
Efeduma urged Management to be conscious when making policies as they will one day become retirees themselves at the expiration of their service time. The Pensioners commended Shell for the donation of $1million in aid of the flood victims in delta state. They condemn the escalating rate of insecurity which has led to the deaths of many citizens.
“The times are indeed evil. There is insecurity (assassination and kidnapping), political instability, corruption in high places, decaying infrastructure, dwindling economy with high unemployment in the land.” They added.

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