FG Okays N54b for Pension Arrears
By Modupe Gbadeyanka
The sum of N54 billion has been approved by the Federal Government to settle payment of pensioners in the country.
A statement issued by the Director of Information in the Ministry of Finance, Mr Salisu Dambatta, explained that the amount is to clear the inherited arrears of accrued pension benefit for the years 2014, 2015 and 2016.
Mr Dambatta stated further that N41.5 billion was released to the National Pension Commission for onward payment to the retirees and N12.5 billion to settle outstanding for January, February and March 2017.
The statement said the Minister of Finance, Mrs Kemi Adeosun, expressed government’s concern about the plight of pensioners in the country and who were part of the Contributory Pension Scheme.
“Despite conflicting demands for available cash, President Muhammadu Buhari has always expressed concern about the plight of workers and pensioners.
“Consistent with this, we have released N41.5bn which clears the arrears inherited from the previous administration relating to the period 2013-2015 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.
“The amount we paid includes arrears and 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 non-payment, will now be paid,” Mrs Adeosun was quoted as saying.