The Food, Beverage and Tobacco Senior Staff Association of  Nigeria (FBTSSAN), last on Saturday in Lagos called for an effective and transparent pension fund administration in Nigeria.

Mr Olukunle Akinwale, the President of the association   who made the call in an interview with newsmen said the operation of pension funds in the country was still fraught with some problems.

Akinwale said that workers were still being short-changed under the new pension scheme.

“There is need for transparency in the pension fund administration in the country. The relevant laws should be adhered to so that we can secure the future of workers,’’ he said.

Akinwale expressed dissatisfaction with the non-transfer of savings benefit, and loss of workers’ pensions following the collapse of a pension fund administrator.

“For instance, I was initially saving with the National Provident Fund which was later changed to the Nigeria Social Insurance Trust Fund, but the monies were not transferred to the Nigeria Pension Commission (NPC).

“Also, a worker after 17 years of meritorious service in a factory could not trace her benefits because the company was no longer in operation,’’ he said.

The union leader, however, advised the NPC to supervise the Pension Fund Administrators efficiently to ensure the success of the scheme.

On housing, Akinwale said the poor management of the National Housing Fund had contributed to the non-delivery of affordable shelter particularly to workers in the country.

He advised governments at all levels to emulate the South African example in their bid to provide cheap housing for workers.

“It is sad that we have good ideas and policies, but some people have failed in helping to achieve these good policies,’’ Akinwale said.