Retirees from the Federal Civil Service, paramilitary institutions have faulted the management of National Pension Commission(PENCOM) over shoddy implementation of contributory pension scheme.
The agency,they said failed to cater for their needs through their contributory pension scheme.
They expressed their minds at a town hall meeting in Abuja organised by the office of the Head of the Civil Service of the Federation, where they accused PENCOM of milking their contributory pension scheme,while the retirees are left to swim in abject poverty and deprivation.
Besides,the retirees accused PENCOM of abandoning its statutory mandate and implementation of Pension Reform Act 2014.
Speaking,President of Contributory Pensioners Union of Nigeria, Chief Uchendu Ekpo, lamented that several attempts of the leadership of the Union to interface with Director General of PENCOM, Dr. Aisha Dahir-Umar were unsuccessful
He faulted a situation where the pensioners have been denied the opportunity to know what their contributory funds are used for.
Earlier in his presentation, Dr. Farouk Aminu, Head,Research and Strategy Department, PENCOM,disclosed that the total contributory pension fund as of June, 2021, stood at N12.7 trillion.
Aminu maintained that fund and asset have been generated through the discipline and dedication of the PENCOM management.
In her remarks, Dr. Folasade Yemi-Esan, Head of Service,said her office has been inundated with complaints on myriad of pension related issues emanating from officers who retired under the defined benefits and the contributory pension Schemes.
She disclosed that in a bid to support retirees in resolving these complaints, he Office of the Head of the Civil
Service of the Federation established a Standing Committee on Pension Matters comprising the Office of the Head of the Civil Service of the Federation,PENCOM and PTAD, adding that the Committee provides the
opportunity for critical stakeholders to meet and proffer solutions to some of the knotty issues.
She said: “I have also tried to stay abreast of pension matters in the country and I have observed with great concern, that there seems to be vast displeasure
emanating from both serving and retired officers on the implementation of the Contributory Pension Scheme as well as the management of the Defined Benefit Scheme.
“In the same vein, over the past few years, series of articles have been published about the Pension Reform Act, 2014. Furthermore, the Joint NationalPublic Service Negotiating Council, the umbrella body of the Unions in the Public Service in its meetings over the past six years have continued to bring to the fore
some of the challenges encountered by its members as a result of the implementation of the Act.
“We have also received submissions from the Contributory Pensions Union of Nigeria, while a number of officershad also echoed the need for the review of the PRA 2014 to enhance the welfare of officers. Thus, the Office of the Head of the Civil Service of the Federation has identified the review of the Pension Reform Act, 2014 as a major assignment which must be approached headlong and with every sense of responsibility.”
She reiterated the commitment of the President Muhammadu Buhari- led administration to the effective implementation of the ContributoryPension Scheme and ensuring the welfare of all officers and the retirees, adding that the present administration has clearly demonstrated this commitment in his approval of the payment of outstanding pension liabilities to retired workers of Federal Government treasury-funded ministries, departments and agencies.
591400cookie-checkRetirees Rap PENCOM Over Shoddy Implementation Of Contributory Pension Scheme
