Tuesday, 16 May 2017

PenCom calls on pensioners to contact PFAs for 2016 benefits

PenCom calls on pensioners to contact PFAs for 2016 benefits

The National Pension Commission (PenCom) has urged Federal Government workers who retired between January and August 2016, and were duly enrolled, to contact their Pension Fund Administrators (PFAs) to commence the process of collecting their benefits.
The Head, Corporate Communication, PenCom, Emeka Onuora, said this in a statement, adding that the accrued rights and benefits have been credited into the Retirement Savings Accounts of the retirees.

According to him, arrangements are being made to pay the next batch consisting of those who retired between September and December 2016, adding that the Commission is solidly committed to ensuring that retirement benefits are paid as and when due.
He said the government and PenCom salute the courage, patience and perseverance of the retirees during the period before resources were mobilised to pay the accrued rights.
Also, the Minister of Finance, Kemi Adeosun, has inaugurated an inter-ministerial committee to review all outstanding pension liabilities of government and to come up with ways to offset such liabilities.
According to a statement by the Director of Information, Ministry of Finance, Salisu Dambatta, the minister would chair the committee made up of the Accountant General of the Federation, Ahmed Idris, and the Director-General of the Budget Office of the Federation, Ben Akabueze, among others.
The composition of the committee was approved by President Muhammadu Buhari, and is expected to review and reconcile all pension liabilities and make recommendations as to what portion of the liabilities can be funded through budget appropriations as well as to suggest creative ways of funding the balance.
Adeosun charged the members to identify any pension assets that could be in suspense and ensure that such funds are used in offsetting the liabilities, and further tasked them to set up mechanism that would facilitate regular payments of pensions through budgetary allocations.
She however frowned at the situation where pensioners are not paid their entitlements promptly, assuring that the committee would come up with strategies that will ensure that pensioners would be paid as and when due.

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