PenCom releases N54bn for retirement benefits of FG pensioners

Accrued benefits of retired workers of Ministries, Departments and Agencies of the Federal Government, who retired from service between January and August 2016 has been released by the National Pension Commission (PenCom).

The release of the fund was confirmed on Tuesday in a release by the Head, Corporate Communications, PenCom, Mr. Emeka Onuorah.

The statement said: “This is to inform all employees of the treasury-funded federal Ministries, Departments and Agencies, who retired between January and August 2016 and were duly enrolled, that their accrued benefits have been credited to their Retirement Savings Accounts.

“They are advised to contact their Pension Fund Administrators to commence the process of collecting their retirement benefits.

“On behalf of the Federal Government, the commission would like to salute their courage, patience and perseverance during the period when the resources were being mobilised to pay their accrued rights.”

It was learnt that about N54billion was released for payment of the retirees.

The commission further revealed that there are efforts to pay the next batch of retirees consisting of pensioners who retired between September and December 2016.

On March 16, retirees of the federal civil service since January 2016, staged a protest at the headquarters of the Federal Ministry of Finance over their unpaid pensions, which is said to be about N200billion.

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