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Tag: Retirees

  • Retirees assets to hit N22trn before January as PenCom promises prompt payment

    Retirees assets to hit N22trn before January as PenCom promises prompt payment

    The National Pension Commission has said it is working with the Federal Government to institutionalise a sustainable solution, ensuring retirees receive their benefits promptly and without undue stress.

    This was revealed by the Director-General, Omolola Oloworaran at a media conference in Abuja on Thursday.

    “Expanding pension coverage remains a top priority for the Commission. Our revamped Micro Pension Plan leverages technology to incentivise informal sector participation, making it easier for everyday Nigerians to save for retirement. This initiative aligns with our vision of inclusive growth and financial security for all.

    “We are also addressing delays in retirement benefit payments to retirees of Federal Government treasury-funded MDAs.

    “Recently, N44 billion was released under the 2024 budget appropriations to settle accrued pension rights for retirees from March to September 2023. Moving forward, we are working with the Federal Government to institutionalise a sustainable solution, ensuring retirees receive their benefits promptly and without undue stress.”

    Oloworaran also said the commission is projecting to close 2024 with over N22 trillion in pension assets.

    These numbers reflect our unwavering commitment to fund safety, prudent management, and sustainable growth,” Oloworaran said.

  • Police retirees vow to protest over Pension Exit Bill

    Police retirees vow to protest over Pension Exit Bill

    The National Union of Police Retirees, Kaduna State Branch has vowed that it would organise the mother of all protests by occupying the National Assembly until President Bola Tinubu signs the Pension Exit Bill.

    According to the retirees, they are earnestly waiting for “the bill to exit the Nigeria Police from Contributory Pension Scheme and the bill for the establishment of the Nigeria Police Pension Board, as the police retirees are patiently waiting for, and there is the tendency that the promise may not be fulfilled as September is winding up.”

    This was contained in a statement signed by the Chairman of the Police Retirees Kaduna State Chapter, CSP Mannir Lawal Zaria (Rtd) and the Vice Chairman,ASP Danlami Maigamo (Rtd),issued to journalists in Kaduna on Thursday.

    They lamented that the police retirees under the Contributory Pension Scheme were dying due to poverty and hunger.

    “The union is also pleading that, as the death toll is on the increase among the police retirees under the Contributory Pension Scheme and the price of commodity of any type is also on the increase.”

    “The Federal Government should come to the aid of the police retirees under the contributory Pension Scheme before they all perish, by immediately paying the following allowances to the police retirees under the contributory Pension Scheme.

    ”The 2.5 percent differential, the Federal Government Palliative and three consecutive pension increase by the Federal Government as well as the minimum wage increase.

    “During the Police Retirees Kaduna State Branch monthly meeting held last Wednesday at Police Officers Mess Kaduna, members became shocked and worried, as there is a sign of unfulfillment of a promise that begin to manifest it self because it can be recalled that, on the 22/09/24, the National Union of the Police Retirees under the contributory Pension Scheme carried out a nationwide peaceful protest to the National Assembly Abuja.

    “During the protest, the Chairman Senate Committee for Police Affairs, Senator Ahmed Abdulkadir Malamadori, addressed some of the retirees in his office, where he promised the retirees that, before September 24, they would be exited from the Contributory Pension Scheme to the Define Benefit Scheme (DBS). that the two Police Bills would be Harmonized.

    “Sequel to this sign of un fulfilment, the blood pressure of many concerned police retirees has risen above maximum.”

  • Adeleke approves N1.6bn bond certificates for 346 retirees

    Adeleke approves N1.6bn bond certificates for 346 retirees

    Gov. Ademola Adeleke of Osun has approved the release of bond certificates worth N1.6 billion for 346 retirees under the contributory pension scheme.

    This is contained in a statement issued by the Permanent Secretary, Local Government Staff Pension Bureau, Mr Ibrahim Akibu, on Wednesday in Osogbo.

    Adeleke said the beneficiaries cut across primary schools teachers and local governments staff, among other retirees.

    He said about 182 primary school teachers and 164 local government staff were among the beneficiaries of the bond certificates.

    Adeleke said the presentation ceremony would take place on Dec. 21.

    ”This is another phase in fulfilment of my open resolve to clear backlogs of salaries, pensions and emoluments issues within the public service.

    “We have commenced payment of inherited half salaries and other emoluments owed public licence servants by the past administration,” Adeleke said.

    According to him, the presentation of the bond certificates is a continuation of the commitment of the state government to workers welfare in and out of service.

  • Military Pensions Board requests documents from retirees, NoKs for debarment allowance

    Military Pensions Board requests documents from retirees, NoKs for debarment allowance

    The Military Pension Board (MPB) has urged eligible military retirees and Next-of-Kin (NOKs) of deceased retirees to bring all the needed documents for the payments of their Security Debarment Allowance (SDA).

    The Chairman of the board, Rear Adm. Sabiru Lawal, made the call in a statement on Friday in Abuja.

    Lawal said the appeal was sequel to its earlier notice on Jan. 17, the retirees on the documents required for the payment of their SDA to non-pensionable military retirees and NOKs of eligible deceased retirees to be paid.

    He said the board had been witnessing influx of military retirees for the processing of their SDA.

    “However, it has been observed that most of these retirees come to the board without the necessary documents required for the processing of their entitlements.

    “For avoidance of doubt, all non-pensionable retirees eligible for SDA are expected to report to the board with the following documents for documentation purposes:

    “Copy of discharge certificate/retirement letter; copy of discharge/retirement identification card/any other means of identification; current passport Photograph of the Retiree; letter from bank confirming account details of the Retiree and bank Verification Number (BVN) slip.

    “All NOKs of deceased military pensioners eligible for SDA are expected to report to the board with copy of death certificate of the deceased pensioner and a copy of Discharge Certificate/retirement letter of the deceased pensioner.

    “Also required are sworn affidavit as to NOK of the deceased pensioner, means of identification of the NOK such as copy of national identity card, international passport or driver’s license; passport photograph of the NOK and letter from bank confirming account details of the NOK,” he said.

    MPB boss also requested the veteran associations to disseminate the necessity of the documents to their members as well as NOKs of deceased pensioners before reporting to the board for documentation purposes for payment of SDA.

    According to him, this is important as non–pensionable retirees and NOKs of deceased military pensioners who report to the board without these documents will not be attended to for payment of the SDA.

  • FG releases N13.89 billion pension for 2022 retirees

    FG releases N13.89 billion pension for 2022 retirees

    The National Pension Commission (PenCom), on Thursday, said the Federal Government had released N13.89 billion for payment of Accrued Pension Rights (APRs) of 2022 retirees of Ministries, Departments and Agencies (MDA’s).

    The commission said this in a statement on its official Twitter handle on Thursday.

    APRs represent an employee’s benefits saved up while in service up to June 2004, when the CPS came into effect.

    PenCom added that the beneficiaries were retirees under the Contributory Pension Scheme (CPS).

    The commission appreciated the efforts of President Muhammadu Buhari for his untiring support and commitment to the implementation of the CPS that continued to ensure the welfare of retirees.

    It added that it was processing remittances into the various Retirement Savings Accounts (RSA’s) of the affected retirees and their Pension Fund Administrators (PFAs) and that the commission would notify them in due course.

  • Okowa approves release of N5bn for payment of pension arrears

    Okowa approves release of N5bn for payment of pension arrears

    Gov. Ifeanyi Okowa of Delta on Monday approved the release of five billion Naira for the payment of pension arrears in the state.

    The State Commissioner for Information, Mr. Charles Aniagwu, disclosed this in a statement in Asaba.

    Aniagwu at a press briefing on Friday hinted that the state government commits over N1.1 billion monthly to settle pension matters in the state.

    The Commissioner also said that the state government was planning to release N10 billion to defray pension arrears, particularly for the Local Government Councils workers in the state.

    On the approval of the release of the N5 billion,  the commissioner said that the sum of N2.5 billion would be deployed to payment of the state retirees’ pension arrears.

    He said the remaining N2.5 billion was released as a grant to the Local Government Pensions Bureau for the payment of Local Government and primary school retirees.

    Aniagwu said that the gesture was part of the government’s efforts to ameliorate the plight of the affected senior citizens in the state.

  • Reprieve for Adamawa pensioners as gov’t approves N1.5 bn for gratuities

    Reprieve for Adamawa pensioners as gov’t approves N1.5 bn for gratuities

    Pensioners in Adamawa State are heaving some sigh of relief as the State Government has approved the sum of N1.5 billion to defray some of their gratuities.

    It is in the light of that that the State Pension Board started a verification exercise for 500 of the pensioners in order to pay what is owed to them.

    The verification exercise began on Monday at the state Pension Board complex in Jimeta, Yola, with the retirees lining up for their turns.

    The Executive Chairman of Adamawa State Pension Board, Chief Thomas Madi, told newsmen that the 500 retirees were to be screened to authenticate their eligibility before releasing the earmarked funds.

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    He explained that those who retired from service between January and May 2013 were those being entertained.

    Madi added that the exercise was made possible with a timely release of N1.3 billion by Governor Ahmadu Fintiri.

    “Since the emergence of the Fintiri administration, the state board has accessed over N5 Billion for payment of gratuity and pension arrears in the state,” he said.

    Madi, who disclosed that the state still owes a backlog of N20 billion of mostly pension arrears as incurred by past administrations, expressed optimism that the Fintiri administration would fully offset it over time.

  • NLC wants restoration of gratuity for public service retirees

    NLC wants restoration of gratuity for public service retirees

    The Nigeria Labour Congress (NLC), has called for the restoration of gratuities for public service retirees, saying it will provide immediate succour for them, pending the release of their pension.

    The NLC said this on Tuesday in Abuja at a public hearing on two bills on the Pension Reform Act organised by the House of Representatives Committee on Pension.

    Mr Uche Ekwe, Head, International Relation, NLC while presenting the union’s position on the two bills, said exempting some agencies from the contributory pension scheme would be unfair to those agencies that would remain.

    According to him, the restoration of gratuity payment in public service is the only solution to the problems bedeviling the payment of of pension to retirees in Nigeria.

    Deputy Inspector General of Police in charge of administration, Sanusi Lemu, who represented the Inspector General of Police, said that the dream for an improved pension for the police has remained a mirage.

    This according to him was in view of the problems being experienced by retired police officers.

    He stated that the planned exit of the police from the contributory pension scheme was base on its negative impact on the morale of their personnel.

    Mrs A’isha Dahiru, the Director General, Nigeria Pension Commission, faulted the call for the removal of the police from contributory pension scheme.

    The DG stated that the poor pension being received by police personnel was as a result of their poor salary.

    Mr Mahmud Ayinla, Founder, Contributory Pension and Happy Retirement Advocacy (COPEHRA), a Non-Governmental Organisation (NGO), harped on the need for contributory pension.

    “The devastating past story of the country’s pension industry cannot be compared with the ease, consistency and sustainability of the Contributory Pension Scheme (CPS),” he said.

    He added that the former DBS was riddled with fraud, corruption and lack of transparency as government continually budgeted money without corresponding reduction in pension liabilities.

    “The CPS has provided a platform to track contributions and savings via monthly, quarterly and yearly statements to the contributors and pensioners while the regulator (PenCom) carryout regular regulatory and compliance functions.”

    Speaker of the House of Representatives, Femi Gbajabiamila, represented by Deputy House Leader, Peter Akpatason, said that the two bills would effect the needed intervention.

    He said that critical intervention of the legislature in the pension reform bill would better the lives of retirees.

    Rep. Kabiru Alhassan, Chairman, House Committee on Pension, explained that the inputs of the stakeholders would guide the house in improving the living conditions of senior citizens in the country.

    He stated that the parliament would not feign ignorance of the stress and delay retirees experienced before access their benefits after serving the nation for years.

    Alhassan said that the inputs of stakeholders will guide the house in improving the living conditions of senior citizens.

    The first bill was a bill for an act to amend the pension reform act by providing that a pensioner shall receive at least 75 per cent of his retirement savings.

    The second is a Bill for an Act to amend the pension reform Act 2014 to provide for exemption of the Nigeria Police Force from the contributory pension scheme and related matters.

  • Lagos Govt announces free transport scheme for retirees above 60

    Lagos Govt announces free transport scheme for retirees above 60

    The Lagos State Government has promised to start offering retirees above 60 years of age free public transportation by the end of the first quarter of this year.

    Mr Babalola Obilana, Director-General, Lagos State Pension Commission (LASPEC), disclosed this on the sidelines of the 91st batch bond presentation to 222 retirees in Lagos.

    Obilana expressed optimism that a free healthcare service for the retirees would commence before the end of the year as well.

    “We are hopeful that by end of March or early April, we should have kick-started the free transportation for retirees, and before the end of the year, the free healthcare service should commence as well,” he said.

    According to him, the commission is in talks with the Lagos State Residents Registration Agency (LASRA) to design an ID card to identify the retirees for the free public transportation and health scheme.

    Obilana said: “At the moment, we are cleaning up the data to ensure that we have people’s records such as names, date of birth seamlessly.

    “Once we do that, we will start with the free transportation, followed by the healthcare,” he said.

    The state government, through LASPEC and Ministry of Establishment, Training, and Pension had promised to deliver these welfare packages to the pensioners since 2020.

  • Remember to pay pensioners now that you are 60 years old, APC tells Governor Ortom

    Remember to pay pensioners now that you are 60 years old, APC tells Governor Ortom

    The All Progressives Congress (APC) Benue chapter has congratulated Governor Samuel Ortom on the occasion of his 60th birthday anniversary.
    This is contained in a press statement by its Acting Publicity Secretary, Mr James Ornguga, on Friday in Makurdi.
    The party prayed God to grant the governor long life and good health.
    “As you clock 60 years of age today, the APC family in Benue rejoices with you for reaching threescore years.
    “We pray God to bless you with good health as you pilot the affairs of the state in the remaining two years of your administration,” it said.
    The party also used the occasion to appeal to the governor to pay pension and gratuity to the state’s senior citizens.
    “Age 60 is the retirement age in the civil service and we pray that you will compassionately consider the Benue pensioners whose age bracket you have just joined.
    “The party remembers the few years you shared with us, during which the celebrated Open Grazing Prohibition and Ranches Establishment Law 2017 was enacted.
    “Happy birthday and may your remaining days in office add value to the people of Benue,” the party said.
    TheNewsGuru.com, TNG reports that Ortom, a former Trade and Investment minister under the President Goodluck Jonathan administration was born on 23 April, 1961.