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FG Pays 2016 Accrued Pension To Retirees’ Accounts



Leadership Nigeria News Today

The federal government, through the National Pension Commission (PenCom) has paid accrued pension benefits to retirees of the Federal Ministries, Departments and Agencies (MDAs), who retired between January and August 2016.
A statement from PenCom, signed by its Head of Corporate Communication, Emeka Onuora, and made available to LEADERSHIP, yesterday, advised all employees of the Treasury Funded Federal MDAs, who were duly enrolled to contact their Pension Fund Administrators (PFAs) to commence the process of collecting their retirement benefits, as their Retirement Savings Accounts (RSAs) have been credited.
The commission, while saluting the courage, patience and perseverance of the concerned retirees, during the period when resources were being mobilised to pay their accrued rights, it stated that arrangements are being made to pay the next batch, consisting of those who retired between September and December of 2016.
PenCom promised to always remains solidly committed to ensuring that retirement benefits are paid as and when due. FG had earlier said it has released N41.5 billion to PenCom as pension arrears under CPS for the year 2014, 2015 and 2016.
Minister of Finance, Mrs. Kemi Adeosun who disclosed this also announced that N12.5 billion being outstanding for January, February and March 2017 has been settled based on 2016 appropriation, bringing the tally to over N54 billion. Despite conflicting demands for available cash, she said President Muhammadu Buhari has always expressed concern about the plight of workers and pensioners.
“Consistent with this, we have released N41.5 billion which clears the arrears inherited from the previous administration relating to the period 2013-15 and underpayments in 2016. This will bring relief to thousands of our elders who have served and deserve to be paid their entitlements promptly and fully,” Kemi Adeosun stated.
She explained further that the N41,566,565,184 released to PenCom was the outstanding appropriated for the year 2014 and 2016 by the National Assembly for the settlement of the retirement benefits of Federal Government employees.
She said the amount paid includes arrears and that the impact is that those who retired as far back as 2013, who had been unable to access pension under the contributory scheme due to nonpayment, will now be paid.