Relief as PenCom releases N54bn to FG retirees

The National Pension Commission on Tuesday released the accrued benefits of retired workers of Ministries, Departments and Agencies of the Federal Government who retired from service between January and August 2016.

The Head, Corporate Communications, PenCom, Mr. Emeka Onuorah, confirmed the release of the funds to the pensioners in a statement.

Findings from officials of the commission revealed that the total amount released for payment of the retirees was about N54bn.

The statement read in part, “This is to inform all employees of the treasury-funded federal Ministries, Departments and Agencies, who retired between January and August 2016 and were duly enrolled, that their accrued benefits have been credited to their Retirement Savings Accounts.

“They are advised to contact their Pension Fund Administrators to commence the process of collecting their retirement benefits.

“On behalf of the Federal Government, the commission would like to salute their courage, patience and perseverance during the period when the resources were being mobilised to pay their accrued rights.”

The commission said that arrangements were being made to pay the next batch of retirees consisting of those who retired between September and December 2016.

PenCom added that it remained committed to ensuring that retirement benefits were paid as and when due.

The federal civil servants who retired since January 2016 had on March 16 staged a protest at the headquarters of the Federal Ministry of Finance over their unpaid pensions, estimated at about N200bn.Punch