The plight of Retirees

We all like Money but financial literacy is far from being common. 

1. A bond is a borrowing instrument. It's life span is usually longer than a year. Some could even be for 30 years.

Ever, imagine lending money to a richer man?

That is what we do when we buy bonds from the Federal government, State Government or banks!

My colleagues who retire from Lagos State Government under a much improved contributory pension scheme that should be as seamless as possible are made to wait for two years before getting their pension rolling.

What they are told is that their bonds would nature in two years. Really?

Without their consent, you buy bonds with their money?

My questions are: is it as a Pension Fund Administrator or as Pension Fund Custodian?

The PFA disburses while the PFC keeps the Funds.

How retirees are made to wait for two years beggars belief!

To me, it is wicked.

I paid my children's school fees with interest from my Investment in Federal Government bonds: 2015 - 2020.

My question is: who gets the Interest from the Bonds?

How I wish Financial Literacy were common, Lagos State retirees would not be reeling under the yoke of something that ought to be beneficial.

Government is for service. Keeping retirees at bay for two years is a big disservice.