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Tag: Pension

  • Oyo govt denies fake pension verification notice

    Oyo govt denies fake pension verification notice

    The Oyo State Government has denied a notice currently circulating among pensioners concerning a supposed verification exercise.

    This is contained in a statement in Ibadan on Friday by the Commissioner for Establishments and Training, Prof. Salihu Adelabu.

    Adelabu described as fake any message requesting pensioners to submit photocopies of their pension certificates, account details, and phone numbers to the ministry.

    He urged pensioners to ignore such messages and remain vigilant against misinformation targeting retirees.

    He emphasised that the ministry would contact eligible individuals only when it is their turn to receive their benefits.

    The Commissioner added that all official information is communicated solely through recognised and credible channels.

    Adelabu advised pensioners to verify any suspicious message before acting, and reaffirmed the state’s commitment to retirees’ welfare.

    He said the government would continue to uphold transparency and due process in pension and gratuity matters.

    He also called on the public to share only verified information, saying protecting pensioners from fraud is a shared duty.

  • Just in: Tinubu endorses pension increase for retirees, free healthcare for low income pensioners

    Just in: Tinubu endorses pension increase for retirees, free healthcare for low income pensioners

    President Bola Tinubu has approved the implementation of the long-awaited pension increase and the rollout of free healthcare for low-income retirees under the Contributory Pension Scheme (CPS).

    He gave the directive during a briefing from the Director General of the National Pension Commission (PenCom), Omolola Oloworaran.

    The President approved that an average pension increase of ₦32,000 be applied, with a minimum pension guarantee put in place to support the most vulnerable pensioners.

    He stressed the need for immediate action to ease the financial pressure on retirees facing rising living costs.

    Tinubu also directed PenCom to urgently resolve the long-standing police pension issue, stating that those who served the country in uniform must be able to retire with dignity and peace of mind.

    During the meeting, the PenCom DG shared updates on efforts to protect pension assets from inflation and economic instability.

    She also introduced a plan to allow Nigerians in the diaspora to contribute to the pension scheme using foreign currency.

    The President welcomed the reforms, restating his government’s goal of supporting inclusive welfare policies for all Nigerians, especially the elderly and vulnerable.

  • We are suffering, pay our arrears – Pensioners beg FG

    We are suffering, pay our arrears – Pensioners beg FG

    Many pensioners in the Federal Capital Territory (FCT) have expressed frustration over the delay in the payment of pension arrears.

    President Bola Tinubu had given approval for the N758 billion Treasury Bond by the Federal Executive Council (FEC) in February for payment of the arrears.

    However, the National Assembly has approved the implementation of the N758 billion Treasury bond on July 22.

    The bond was to clear all government liabilities under the Contributory Pension Scheme (CPS) retirees for more than decades.

    The pensioners, who lamented over their sufferings, also urged the immediate implementation of the N758 billion Treasury bond to increase their monthly pension in line with the present economic reality.

    In an interview with NAN, Hajiya Amina Lawal, said that even some workers could not afford three meals, adding that it is harder for pensioners.

    “We were happy after the announcement by the president that we are going to be paid, but we did not know we will have to wait this long for processing.

    “Our hopes were raised and some have died while waiting for the money to be paid.

    “We are begging for the immediate implementation, we are too old to be on the streets,” she said.

    Mr George Ose said they were going through a lot, some pensioners have lost their lives in the struggle.

    “My family and I are hungry. I can’t pay my children’s school fees. My landlord is on my neck and to top it all, I can’t access the National Health Insurance Scheme (NHIS) anymore.

    “If you look into my eyes, you will know that I need urgent medical attention. We the pensioners in this country are suffering,” he said.

    ” After working hard, if I knew I would suffer like this, I would not have given them the services I gave them,” he said.

    Mrs Joy Adewale, who retired with her husband in 2016, said she had been struggling with life.

    “We have been struggling to feed with this stipend. l am suffering, my husband is suffering too. What is our offence? We served our nation for 35 years.

    “After retirement, I opened a shop to sell soft drinks, but government demolished the shop. Now this amount cannot even feed my family and I, to say the least as well as our medical bills and other things.

    “Some of us couldn’t cope with this hardship. Even my neighbour that retired two years ago died two months ago. People look down on us because we are retirees,” she said.

    Adewale said that when her shop was demolished, she ran to the company that she was selling their products for help, in terms of getting the product on credit to sell and repay, but her appeal was turn down.

    “Even my bank refused to grant me loan to continue the business because l am a retiree.

    “No friend again, only God is sustaining me and my family now.

    “I am now appealing to this present government to help us pay all our rights now that we are alive.

    “I pray that all our colleagues that have fallen, that God will accept their souls. For those of us still alive, I also pray God will help us to reap the fruit of our labour,” she said.

    Mrs Nkiru Offor, who retired in 2019, said her entitlements were paid in 2021 and the payment had been regular, but there was a need to increase it.

    “My NHIS that was stopped immediately after my retirement has been a huge challenge, I spend a lot on lab tests and drugs instead of just ten per cent.

    “In fact, it is difficult to register for the private NHIS programme with N50,000.

    “They are even telling me I have issues with my payment that it has not dropped for the past three months that I registered. So no access to cheap medicals,” she said

    Mr Evans Ubah, urged the Federal Government to come to their aid, saying: “today I can’t feed myself, see how my face is, its hunger.

    “Look at how harsh the economy is because of our leaders.

    “We don’t have anything to live on now, every year they will tell us in the media that pension fund asset has increased, why are pensioners not paid?

    “We have a constitution in the country that every five years salaries will be increased and pension will increase too,” he said.

    Ubah said they need their arrears to start up a small business.

  • NUP denies planned protest over N32,000 pension increment

    NUP denies planned protest over N32,000 pension increment

    The Nigerian Union of Pensioners (NUP) has denied any planned protest over the recently approved N32,000 pension increment by the Federal Government.

    Its Deputy National President, Chief Abdulahi Onu, said this while speaking with newsmen in Abuja on Thursday.

    It would be recalled that some aggressive pensioners had threatened to protest over the non-implementation of a N32,000 pension increment, and N25,000 palliative funds for pension, among others.

    Onu said the union disassociated itself from the planned protest, saying such actions are unilateral, unauthorised, and do not reflect the position of the NUP leadership.

    “Our leadership representing members across the country is satisfied with the explanation of stakeholders’ engagement initiated by the Pension Transitional Arrangement Directorate (PTAD), on the issue of the N32,000 pension increment and its efforts geared towards clearing the arrears.

    “We equally appreciate President Tinubu for all his efforts aimed at bettering the living conditions of pensioners. We are also directing all our members to stay away from the rumoured protest called by some group of pensioners.

    “PTAD is currently attending to the issues and concerns of all pensioners regarding the N32,000 pension increase and we trust that the efforts of the agency towards making payment will come to fruition in no distant time.

    “No group of pensioners, chapter, or sector should decide alone by sending out a circular announcing a protest or any form of industrial action without the consent of the national leadership,” he said.

    According to him, it is not right and neither is it the character of a responsible trade union.

    Onu disclosed that some groups, including the NIPOST Lagos Branch and other factions, had been circulating information about protests over the increment and arrears.

    He said that the union would neither support nor participate in any protest organised by splinter groups or individuals acting outside the union’s constitutionally recognised structures.

  • Labour demands suspension of pension scheme in Ogun

    Labour demands suspension of pension scheme in Ogun

    The organised labour in Ogun has called for the suspension of the Contributory Pension Scheme (CPS) over N82 billion unremitted pension deductions in the state.

    Speaking on behalf on their behalf at a news conference in Abeokuta on Wednesday, Nigeria Labour Congress, Ogun Chairman, Ademola Hameed-Benco, announced the position.

    He said labour rejected the full implementation of the scheme until all necessary administrative and financial structures are established and functional.

    NLC, Trade Union Congress (TUC) and Joint Negotiating Council (JNC) jointly agreed to demand a suspension of CPS implementation for civil servants.

    According to Hameed-Benco, the state government scheduled the full implementation of the scheme to begin on July 1.

    He said, “After meetings with affiliates and organs of Organised Labour, we find it necessary to publicly reject the scheme’s full implementation.

    “The Ogun Organised Labour supports postponing the CPS until all relevant preparations—financial and administrative—are completed.

    “Clearly, the Ogun State Government is unprepared to meet the expectations of the CPS.”

    He noted that CPS inconsistencies include the failure to remit over N82 billion deducted from workers in 17 years to Pension Fund Administrators (PFAs).

    “Other issues include the absence of a State Bureau of Contributory Pensions and a comprehensive CPS data register,” he added.

    He called for immediate dialogue with the state government to address the outstanding concerns.

  • Pension Fund Assets rise to N23.33trn – PenCom

    Pension Fund Assets rise to N23.33trn – PenCom

    National Pension Commission (PenCom) says the total assets under the Contributory Pension Scheme (CPS) rose to N23.33 trillion as at March 31.

    Mr Saleem Abdulrahman, Director of Surveillance, PenCom, disclosed this on Thursday in Lagos.

    Abdulrahman said that the figure represented an increase of N820 billion when compared with the N22.51 trillion recorded as of Dec. 31, 2024.

    He attributed the growth in pension assets to additional contributions from Retirement Savings Account (RSA) holders and investment income, including gains from the appreciation of equity prices and interest income on fixed-income securities.

    Breaking down the pension assets, he said the Retirement Savings Account Funds I–VI accounted for N17.90 trillion or 76.73 per cent of the total pension assets.

    He said Existing Schemes accounted for N2.77 trillion or 11.87 per cent while Closed Pension Funds accounted for N2.66 trillion or 11.40 per cent.

    “The Pension Fund Assets were mainly invested in Federal Government Securities which accounted for 62.09 per cent of the total Pension Assets as at March 31.

    “This is followed by domestic ordinary shares with 11.02 per cent and money market instruments which accounted for 8.91 per cent.

    “The Industry portfolio reported annualised year to date performance of 19.29 per cent as at 31 March 2025.

    “The commission in collaboration with Financial Sector Deepening Africa (FSD Africa) is organising a workshop on Investment in Alternative Assets, for Chairpersons of the Board Investment Strategy and Risk Management Committees of PFAs.

    “The workshop is part of the strategic initiative of the commisison to promote a diversified and safer pension fund investment portfolio in order to enhance the performance of the pension portfolios,” he said.

  • Bayelsa Govt orders quick payment of workers’ gratuities

    Bayelsa Govt orders quick payment of workers’ gratuities

    Bayelsa government has directed the Local Government Service Commission and Pensions Board to provide pre-retirement forms to all affected staff three months to their due date.

    Mr Lawrence Ewhrudjakpo, Bayelsa Deputy Governor said the delay in the provision of such forms often caused the delay in the payment of benefits to retired workers.

    Ewhrudjakpo gave the directive at a meeting with council chairmen, Auditor General for Local Government and officials of local government pensions board on Wednesday in Yenagoa.

    He said that payment of gratuities, pensions to local government workers retiring from service in Bayelsa, should not be later than a month after their retirement.

    According to him, the decision is not only part of ongoing reforms in the local government system, but, most importantly, targeted at alleviating the sufferings of retirees.

    Ewhrudjakpo decried the current procedure for processing retirees’ pension and gratuity documents as too slow, emphasizing that three month pre-retirement period was long enough for any retiring worker to complete such statutory documentations.

    He pointed out that government was putting the necessary modalities in place to ensure that retired staff got their full gratuity payment not later than 30 days after their exit from service.

    The deputy governor noted that retirees deserved respect and rest, and therefore, should not be subjected to any form of suffering before receiving their statutory benefits.

    According to him: “As far as I am concerned, the present system or process for the payment of gratuities and pensions is too cumbersome, complicated, time consuming and defective for my liking.

    “I don’t think I can continue to preside over such an ineffective, vigorous, demeaning and punitive system.

    “I don’t see any reason why it should take two years for the processes to be completed for retired local government pensioners to be paid pensions and gratuities.

    “That is why some people die before their pensions are ready.

    “We are submitting that in about a month, every pensioner should be through with the post-retirement processes and documentations, and he or she is paid his or her money, immediately after retirement.

    “The retirees are our staff, and so why are we making them to go to Accountant General’s office, and other offices to collect one form or the other.

    ”After all, most of the information we need about them should be in the office, if we are really serious.

    “These are people who have put in several years to serve government, and they deserve respect and rest. So, they should not be made to unnecessarily visit offices for documentation purposes,” he said.

  • How ICPC recovered N20bn ghost workers’ pension deductions

    How ICPC recovered N20bn ghost workers’ pension deductions

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it recovered over N20 billion in pension deductions from the salaries of ghost workers in 2024.

    The Chairman of ICPC, Dr Musa Aliyu, said this on Wednesday in Abuja at a breakfast meeting with some members of the Nigerian Guild of Editors.

    Aliyu said that the commission also arrested some people who specialised in inserting names of their cronies into the Federal Government payroll.

    According to him, while deductions for workers’ pension are remitted to Pension Fund Administrators, the same cannot be said for ghost workers’ pension.

    “Any deduction made on ghost workers cannot go to any Pension Fund Administrator. It will be hanging; so that was the N20 billion recovered.

    “We have been able to track and recover this amount of money and we also identified people that are inserting ghost workers in the system.

    “We even discovered that somebody put his wife, his son and his inlaw in the payroll. He is 15-year-old boy. We arrested him.

    “These are some of the challenges that we are trying to see that we tackle. We don’t want to allow this to happen again,” he said.

    The chairman further revealed that the commission succeeded in blocking about N50 billion from being diverted by some public officers in 2023.

    While seeking the support of the media in achieving the commission’s mandate, he said that the anti-graft agency had put in place strategies to fight corruption.

    He said that the commission was trying its best to achieve its goal, adding that it would not hide information or compromise on enforcement

    “As we are empowered and regarding the issue of enforcement, we will ensure that we share verified information through reports, newsletters and press releases on our website and social media.

    “Last year, we had an event whereby we unveiled the Strategic Action Plan 2024-2028. Our strategic Action Plan is in line with the National Anti-Corruption Strategy.

    “We would always be proactive in making sure that we don’t allow certain things to happen so that we don’t go chasing shadows,” he said.

    The chairman, however, advocated a review of the nation’s laws to make corruption less attractive.

    According to him, anyone found guilty of corruption should not benefit from it as in some jurisdictions.

    Aliyu said such persons should be made to pay the full amount involved into public coffers with interest and barred from holding public office for as long as 10 years.

    He urged Nigerians to stop eulogising corrupt people, saying this had been at the heart of the rot in society.

    He pledged to transform the commission to a leading anti-graft agency in the country with the mutual relationship established with the media.

    “Our partnership with the Nigerian Union of Journalists (NUJ) and the Nigerian Institute of Public Relations (NIPR) has greatly improved our anti-corruption communication and public engagement efforts.

    “We salute your commitment to the crusade against corruption and our successful efforts in 2024.

    “We believe that our combined professional integrity would lead us to achieve more in our mandate of mass mobilisation against corrupt practices in Nigeria,” he said.

    Miss Hussaina Akila, the Director of News, Federal Radio Corporation of Nigeria,  in her remarks, lauded the ICPC chairman for initiating the forum.

    Akila, however, urged the anti-graft agency to ensure comprehensive insurance of its operatives, saying this would boost their morale.

    The meeting was attended by editors and bureau chiefs from the northern part of the country.

  • Civil servants want NASS to amend pension law

    Civil servants want NASS to amend pension law

    The Association of Senior Civil Servants of Nigeria (ASCSN) says there is need for the National Assembly to amend the pension law for more robust packages for retired civil servants.

    ASCSN National President Shehu Muhammed made this known at a news conference on Wednesday in Lagos.

    Muhammed said that issues surrounding pension had been lingering for years and many attempts to tackle them had not been successful.

    According to him, some employers fail to remit their own contributions to the  National Pension Commission.

    He said that an affected employee would, therefore, not have access to his terminal benefit until when the employer would pay up.

    “From this, you can see that there is no difference from the old system and the new system; we are all coming back to square one, where you spend years without having access to your terminal benefit.

    “Some retirees have  died without having access to their retirement benefits.

    “However, we still have a window: those who formulated the law, the National Assembly.

    “That is our next bus stop because the complaint we are receiving across the country by our members is that the contributory pension scheme should go.

    “It is no more beneficial to the workers of Nigeria. We are still going back to the National Assembly with suggestions as regards amendment of the law in order to pave way for us to have access to our money immediately after exiting the service,“ he said.

    On employment, the labour leader urged governments to come up with policies and programmes that would provide job opportunities and small businesses for those exiting from civil service.

    He said that hundreds of thousands of students graduated from  tertiary institutions  yearly and were  expected to get white-collar jobs.

    According to him, high unemployment rate  contributes to insecurity.

    He said, “Government must put enough resources into addressing  unemployment.”

  • Abia pensioners beg govt to clear gratuity

    Abia pensioners beg govt to clear gratuity

    The Concerned Abia Pensioners, a pressure group, have appealed to the State Government to begin the payment of arrears of gratuity in instalments.

    The Chairman of the group, Mr John Kalu, made the appeal on Monday during a briefing in Umuahia.

    Kalu urged the government to reconsider its stance on the payment of gratuity as agreed by the leadership of the Abia Chapter of the Nigeria Union of Pensioners (NUP).

    He said that although these arrears were not incurred by the present government, he urged the present administration to clear it the same way it paid salary arrears.

    Kalu also said that pensioners would not mind if the government cleared the arrears of gratuity in instalments.

    He said that the NUP did not carry pensioners along in the said agreement reached with the government and expressed the hope that the matter would be looked into again.

    Also, the Secretary of the association, Mr Stanley Ibekwe, thanked the government for regular payment of pension without any deductions.

    He apologised to Gov Alex Otti for the misrepresentations against his person and his administration by the leadership of NUP.

    Ibekwe said: “We appeal to the governor to please take a second look at the issue of gratuity and ensure that though these arrears were not incurred by his government.

    “We appeal to the governor to extend his compassionate intervention by clearing them like he has done on salary arrears, even if it is done instalmentally.

    “This is because, gratuity is the whole essence of the public service and nobody would think of losing his gratuity after 35 years of service or 60 years of age in the service”.

    The present administration had waived a percentage of Abia pensioners’  gratuity based on a Memorandum of Agreement it reportedly signed with the executive of NUP.