Economy & Finance, Government Policies & Politics

Accrued Pension Rights May Rise To N61Bln – PenCom

PENCOM

Already, the 2015 outstanding accrued right yet to be paid by Federal Government to pensioner stands at N20 billion and the figure might rise to N61 billion as the federal government only made provision for N50 billion as against N91 billion needed to pay it workers who will retire in the current year.

amazuAccording to the Director General, National Commission (), Mrs. Anohu-Amazu, N91billion request was made by the commission to the for those who are due to retire in 2016 but only N50billion request was granted in the budget.

She said, ”If the N50billion requested is funded by the government, there is going to be a deficit because from ’s figures, N91billion was needed to pay every retiree that will retire in 2016.”

The PenCom boss further said that the problem only affect federal government , while those in the private sector don’t have such issues because they are already funded.

She, however, stressed that government is making efforts to clear all outstanding payment, while attributing the growth in deficit to the financial crisis ravaging the country.

 

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