FG needs N1.86trn to settle pensioners —PENCOM
Mohammed Ahmed Kabir
Federal Government will require N1.86trillion between now and next year to settle pensioners, director general of Pension Commission of Nigeria,(PENCOM) Mohammed Ahmed Kabir said yesterday.
Senate President David Mark however said the plight of pensioners not paid was not acceptable to the upper chamber.PENCOM DG when he appeared before the senate committee on Establishment and Public service yesterday announced that under the new pension scheme, a total of N874 billion had been accumulated as pension assets.
Kabir said a total of over three million employees of the public and private sectors have been registered and issued with personal identification number by the commission.
He said "the remittanc of the pension contributions which is with the CBN is being hampered by documentation challenges".
Kabir however noted that the commission has commenced verification and enrolment of all pensioners of Federal government parastatals including the Nigerian Coal Corporation with a view to addressing the problems of pension of arrears under the unified pension scheme.
Senate president while declaring open the public hearing organised by the senate committee on Establishment on the problems associated with the pension act said the senate was not happy with the delay in the payment of pensions to pensioners.
Mark charged stakholders at the public hearing to find solutions to solving the problems associated with payment of pensions.
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