A Pension Scheme System is needed in every Country to provide financial security to workers and individuals who have contributed to a country's national development and advancement in the course of their most productive working years.
What Pensioners must understand today, for your Pension to remain valuable to you in retirement, your money and your economy must also remain strong. If you earned Rs. 4,000.00 per month as a worker in your active- progressive years, and your Pension garnished you Rs. 3,000.00 in retirement, you would want that Rs. 3,000.00 to have the same purchasing power it had when you were able and worked or maybe even more purchasing power, meaning your money today would buy you more then it did when you were working. For Example, if it cost Rs. 5.00 for a liter of milk when you worked full time, you would want the same liter of milk to remain Rs. 5.00 or become even cheaper, say Rs. 3.50 in your retirement. If your Electricity Bill was Rs.200.00 while you worked, at retirement, you would want it to stay the same or drop to Rs.150.00 which would reflect your hard work and contribution to your Country. Every worker who has trusted a Government expects a Government to do you right and keep it’s promise. SPPF is breaking their promise to the Pensioners of Seychelles today.
Pensioners open your eyes and see the breach of trust for yourself. No invitation to a birthday party and little presents of things you cannot afford yourself from someone who has stolen your good comfortable retirement through his debunked policies over the years, will fix this broken promise in your lifetime.
The problem today for Pensioners is this. SPPF Pension gives you money that is worth much much less than when you were working. Every month that goes by, your Pension buys you less and less than it did the month before.
However, the President tells us he is committed to a strong Rupee which would if it was true, protect our Pensions value and ensure our retirement after working all our lives. Pensioners want to believe those nice words Mr. President says. Pensioners want to believe that the Rupee will remain strong and all our Pensions will remain valuable under SPPF. In fact, many Pensioners vote for SPPF because of this single promise. The promise is a lie. It is fake. It will never happen. Pensioners have a bad dream ahead with the SPPF system managing their Pensions. The bad dream has just started.
Most recently, the Rupee has devalued almost 40% against other currencies. This means your Pension has 40% less value than before Mr. President was elected last August 2006. If you do not believe it, go to Supa Save, an SMB outlet, or some other retailers and compare the prices of goods. Don’t blame Supa Save, or the Indian Shop keeper, blame SPPF, SMB and their system for the loss of value in your monthly Pension. If the Shop keeper sides with SPPF, blame him too since he has elected to become part of the problem.
The Pension Fund over the last couple of years has embarked on a spending spree of investments in buildings and what not, to find ways to protect your investment in the Fund as the Rupee devalues. The logic is this: invest your Rupees in buildings and rentals. As the Rupee devalues, we can just raise rent to offset the devaluation. Hence, protect Pensions. The problem with that is this: it just does not work. Mr. President went moaning about high rents in
If you do not believe me, count how many buildings around just
The road ahead is a long and hard one. Some Pensioners will not see the end of the journey before the Lord calls them. But for the sake of your Children, who will be Pensioners soon enough under SPPF; we in
May God Bless All Our Pensioners Who Value Freedom over Chains!