Thursday 23rd February, 2017
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Retirees' benefits: ASCSN urges FG to release funds

Retirees' benefits: ASCSN urges FG to release funds

Organized Labour under the aegis of Association of Senior Civil Servants of Nigeria (ASCSN) has urged the Federal Government to release its counter-part funds to the National Pension Commission (PENCOM) so that thousands of retired Public Servants can be paid their entitlements.
 
Disclosing this in a statement to newsmen in Lagos, the ASCSN Secretary-General, Comrade Alade Bashir Lawal, lamented that the inability of the Federal Government to meet its financial obligation to PENCOM had made it difficult for the organisation to remit necessary funds to Pension Funds Administrators (PFAs) to settle retirees’ benefits.
 
He said retirees affected were those who had put in several years in service before the 2004 Pension Reform Act was promulgated.
 
“After the Contributory Pension Scheme was introduced in 2004, public servants who have served for years before the new law came into existence were expected to have their pension bonded so that government will release same to PENCOM to pay them on retirement.

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