Some retirees under the Contributory Pension Scheme (CPS) have yet to receive gratuity due to unfunded Defined Benefit Scheme (DBS) backlog owed by the Federal Government.
The Acting Director-General of the National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, made this known in Lagos.
Dahir-Umar said that gratuities to pensions would be low if the commission paid only CPS.
The director-general said the affected retirees had been in service before the enactment of CPS Pension Reform Act, 2004.
According to Dahir-Umar, the Pension Transitional Arrangement Directorate (PTAD) has been fully established to handle the Federal Government retirees exempted from CPS based on regulation and supervision of PenCom.
She said that the Federal Government under the DBS activated pay-as-you-go method for pension and gratuity on percentages of defined pensionable items.
“However, the…
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