The cries of Federal Government pensioners over unpaid entitlements may soon come to an end, all other things being equal and if the words of the National Pension Commission, PenCom are anything to go by.
At a workshop in Uyo, Akwa Ibom State, organised for a cross section of journalists to discuss developments in the pension industry, the achievements and challenges as well as receive feedback on performance, PenCom informed that based on the positive disposition of the Federal Government towards settling outstanding pension liabilities, as evidenced by the release of N54 billion in April 2017, it is expected that these liabilities will soon be cleared.
The Acting Director-General of PenCom, Mrs. Aisha Dahir-Umar, represented by the Commission’s Secretary and Legal Adviser, Mr. Mohammed Sani Mohammed said the Commission served as a member of an Inter-Ministerial Committee, chaired by the Minister of Finance, that was set up by President Muhammadu Buhari to determine the total pension liabilities of the Federal Government under both the CPS and the Defined Benefits Scheme, and advise the government on the amount required to be provided in the budget to defray the pension obligation.
According to her: “The Commission has determined the total pension liability owed to the Contributory Pension retirees due to both the 15 per cent and 33 per cent pension increases of 2007 and 2014 respectively. In addition, the outstanding accrued rights of Federal Government employees who retired in 2017 as well as the amount due to those retiring in 2018, have been submitted to the Federal Government for appropriation in the 2018 budget.
Based on the positive disposition of the Federal Government towards settling outstanding pension liabilities, as evidenced by the release of N54 billion in April 2017, it is expected that these liabilities will soon be cleared.”