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Defunct PHCN retirees cry over unpaid benefits
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Defunct Power Holding Company of Nigeria, PHCN, pensioners, under the aegis of Concerned Pensioners, CPP, have appealed to the Federal Government to intervene over shortfalls in payment of their pension benefits by the Nigeria Electricity Liability Management Limited, NELMCO.
The CPP alleged unethical practice by NELMCO in shortchanging the retirees in payment of pension benefits.
CPP Secretary, Mr Julius Ayodeji, said some of the pension benefits, harmonisation, monitisation and electricity rebates, were trapped in NELMCO.
Ayodeji said NELMCO officially transferred pension payment obligations to Pension Transitional Arrangement Directorate, PTAD, in July 2014, however, the Budget Office remitted arrears to NELMCO instead of PITAD, thereby causing administrative conflicts.