The Federal Government through the Accountant General of the Federation, has released of N44 billion for the payment of retirees from public service for the period January to June.
This is contained in a statement issued at the weekend by the National Pension Commission (PenCom), that the funds have been deposited into the Retirement Benefits
The statement noted that the funds have been
deposited into the Retirement Benefits Bond Redemption Fund (RBBRF) Account at
the Central Bank of Nigeria to partially settle unpaid accrued pension rights for retirees
of Federal Government Treasury-funded Ministries, Departments, and Agencies
(MDAs) under the Contributory Pension Scheme (CPS).
It added that the disbursed funds have been applied to settle the accrued pension rights of retirees who were duly verified and enrolled, covering the period March to September 2023, as well as some deceased employees.
“Accordingly, the remittances have been credited directly to the Retirement Savings Accounts (RSAs) of the affected retirees through their respective Pension Fund Administrators (PFAs).
“All affected retirees are encouraged to contact their PFAs to complete the necessary
documentation to access their retirement benefits. PenCom has also directed PFAs to
expedite the processing of payments to ensure retirees promptly receive their
entitlements.
“In the meantime, PenCom remains steadfast in its commitment to engaging with
relevant authorities to secure the full settlement of all outstanding accrued pension
rights and related liabilities.
“The Commission assures all retirees of FGN Treasury-funded MDAs that these efforts will be sustained until all pending pension liabilities under the CPS are fully resolved.
“PenCom appreciates the patience and understanding of retirees and reaffirms its
dedication to safeguarding their retirement benefits.”
