FG Releases N16.67Bn Fund To Offset Accrued Pension Rights Under CPS

Yemisi Izuora

 

The National Pension Commission (PenCom), says government has released N16.67 billion for the payment of Accrued Pension Rights to 2021 retirees of Treasury-funded Ministries, Departments and Agencies (MDAs).

The Federal Government had earlier settled all arrears of accrued pension rights payments to the verified and enrolled retirees up to December 2020.

One thought on “FG Releases N16.67Bn Fund To Offset Accrued Pension Rights Under CPS

  1. The federal government will continue to pay unending accrued pension rights, except the prevailing iniquitous contributory Pension law is reviewed.

    PTAD has paid all outstanding pension increase to almost all DBS retirees, i often wonder how PTAD source funds which they effectively use to pay DBS retirees promptly and in the same country PENCOM has failed to do same for contributory retirees who are also entitled to the pension increases which PTAD has paid.

    The excellent service delivery from PTAD clearly indicates that unlike in the past, contributory retirees can also be paid by a public managed pension office, instead of private pension managers who are only interested in millking the contributions of workers and retirees.

    Many countries that previously embraced CPS managed by pension fund managers have reverted to public management of Pension, what is Nigeria waiting for?

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