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The Federal Government has released N11.82bn for payment of accrued rights of retirees of treasury funded Ministries, Departments and Agencies under the Contributory Pension Scheme.
The Head, Corporate Communications Department, National Pension Commission, Peter Aghahowa, disclosed this in a mail sent to our correspondent on Wednesday.
He stated, “The sum of N11.82bn has been released by the Federal Government for payment of accrued rights.
“Accrued rights represent benefits for employees of treasury funded MDAs who worked up to June 2004, when the Pension Reform Act was introduced.
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“The commission appreciates the effort of the Federal Government at ensuring that the accrued rights arrears are cleared.”