FG releases N14.92bn to offset pension arrears

The accrued pension rights represents an employee’s benefits for the past years of service up to June 2004, when the Pension Reform Act (PRA) that birthed the Contributory Pension Scheme (CPS) came into effect.

“The commission appreciates the effort of the Federal Government at ensuring that the accrued rights arrears are cleared, and thanks the affected retirees of the treasury funded agencies for their patience,” said PenCom.

Efforts by New Telegraph to get details on the latest tranche of accrued rights from PenCom spokesperson, Mr. Peter Agahowa was futile. His phone number was not going through.

Prior to release of latest fund, police retirees under the CPS supervised by Pen- Com lamented undue delay in the remittance of their pension accrued rights, which they say had lingered over one year.

These retirees, under the umbrella body of Association of Retired Police Officers, lamented their woes and the attendant hardship they are going through with their families.

Bringing their plight to public knowledge last year, they averred that after 35 years of meritorious services to their fatherland, and having put their lives on the line for the safety of the country and her citizens, they deserve better treatment in their retirement life.