FG Releases N54 Billion Pension Arears For Retirees

Adeosun made this disclosure in a press statement issued by Salisu Na’inna Dambatta, the Information Director in the Finance Ministry.

While noting that the backlog of pension arrears were inherited from the previous administration, the Minister said the government released the said sum after it put the plight of pensioners, who retired under the Contributory Pension Scheme without being paid, into thoughtful consideration.

Adeosun further disclosed that the government had also paid the sum of N12.5 billion as outstanding for January, February and March 2017 based on 2016 appropriation, totalling N54 billion.

She said the sum of N41, 566, 565, 184 that has just been released to PENCOM was the outstanding appropriated for the year 2014 and 2016.

“Despite conflicting demands for available cash, President Muhammadu Buhari has always expressed concern about the plight of workers and pensioners. Consistent with this, we have released N41.5 billion which clears the arrears inherited from the previous administration relating to the period 2013-15 and underpayments in 2016. This will bring relief to thousands of our elders who have served and deserve to be paid their entitlements promptly and fully,” Mrs. Kemi Adeosun emphasised.

“The amount we paid includes arrears and the impact is that those who retired as far back as 2013, who had been unable to access pension under the contributory scheme due to non-payment, will now be paid,” Adeosun said.

She further disclosed that “the monthly allocation to the PENCOM based on the appropriation of 2017 will regularly be paid along with monthly salaries of Ministries, Departments and Agencies (MDAs)” in order to avoid future accumulation.