The Federal government have announced it has cleared the backlog of pension arrears it inherited from previous administration. The Minister for Finance Mrs Kemi Adeosun announce this on her social media handles yesterday.
She said “We’ve now cleared the inherited arrears of pension benefits for 2014, 2015 and 2016, by releasing N41.5 billion to the National Pension Commission (PENCOM) for payment to affected retirees.”
The minister also confirm the release of N12.5 billion to cover outstanding pensions payments for January, February and March 2017. She said a total payment to N54 billion has been released so far despite conflicting demands for available cash.
In her word “President Muhammadu Buhari has always expressed concern about the plight of workers and pensioners. These payments will bring relief to thousands of our elders who have served, and deserve to be paid their entitlements promptly and fully.
With these payments I’m pleased to say that we have now cleared the Contributory Pension Scheme arrears that the Buhari Government inherited.”
To avoid fresh accumulation of arrears, we will from now on ensure that monthly allocations to National Pension Commission (PENCOM) are regularly made alongside monthly salaries to Ministries, Departments and Agencies (MDAs).