AS a retired gentleman I recently applied for a pension from the National Social Security Authority (NSSA), thinking it would be $160 000 per month. What a waste of time and effort! I received a one-off pension “grant” of $17 417,24 after tax. Ba
nk charges would have reduced the value even further.
A rather pertinent fact is that despite NSSA being operational since 1994 it has never enacted an actuarial valuation which it should have done once every three years.
This authority is just another bottomless pit and employers should stop contributing to it.