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FG releases N11.8bn pension for MDA retirees, 10 months arrears still outstanding
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By Rosemary Iwunze
The Federal Government, yesterday, released the sum of N11.82 billion for payment of accrued rights for retirees of treasury funded Ministries, Departments & Agencies (MDAs) under the Contributory Pension Scheme (CPS).
Accrued rights represent benefits for employees of Treasury Funded MDAs who worked up to June 2004, before the Pension Reform Act that gave birth to the CPS was introduced.
However, Vanguard investigation shows that the amount will cover only two months arrears of January and February 2020. This is because the last payment for accrued rights was for December 2019. In essence, a backlog of ten months arrears is still outstanding.
PENSION
More opposition to the moves by state governors to borrow from the pension fund has come from pensioners under the Contributory Pension Scheme, CPS, who argue that most states have no justification to access the fund having refused to key into the scheme.
Vanguard investigation shows that only 10 states out of the 36 states have keyed into the CPS since its introduction in 2004.
The Nigeria Governors’ Forum, NGF, has endorsed proposals to borrow a total of N17 trillion from the pension fund and the Nigerian Social Trust Fund for infrastructure development.
In a communiqué issued by the Contributory Pensioners Union of Nigeria, CPUN, and signed by its Chairman, Mr. S.A Kojusola and Secretary, Mr. Comrade Idowu Ogunjinrin, at its end of the year meeting in Ibadan, the Union said: “Members frowned at the Federal/State Government intension to borrow from Contributory Pension Scheme Fund at the expense of the Union members retired since last year that are yet to receive