The National Pension Commission, PenCom, has announced the release of N16.670 million for the payment of pension rights accumulated to retirees in 2021 from the ministries, departments and agencies financed by the Treasury, MDA.
In a brief statement on Wednesday, PenCom said: “The National Pension Commission (PenCom) is pleased to announce the release of N16.67 billion by the Federal Government for the payment of accumulated pension rights to 2021 retirees of ministries, departments and agencies, MDA.
“The Federal Government had previously cleared all arrears of pension rights payments accrued to verified and enrolled retirees up to December 2020.”
Last month, a total of 190,158 MDA retirees received N884.58 billion as pension rights accrued from the start of the Contributory Pension Plan, CPS, until December 31, 2020.
According to a Vanguard report, which cites the commission’s annual report for 2020 published on its website, the Federal Government released N65,909,343,247.5 in the account of the Retirement Benefit Bonds Redemption Fund, RBBRF, for the payment of fees. accrued to retiree MDAs.
The report read: “As a result of this, the Commission approved the release/shipment of the full amount to the RSAs of 11,385 deceased Treasury-funded MDA retirees and employees.”
In addition, according to PenCom, the government released N11,820 million for the payment of pension rights accumulated by retirees under their MDA in January.
In July, the Commission notified all its stakeholders, particularly retirees from Treasury-funded MDAs, that President Muhammadu Buhari had approved his submission on the payment of some critical aspects of the Federal Government’s outstanding pension liabilities. under the CPS.
According to PenCom, the settlement of the pending accrued pension rights of verified and registered FGN retirees and compliance with the revised rate of pension contributions are significant developments that have resolved the challenges in these aspects that have persisted since 2014.
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