The Executive Chairman of the National Pension Commission (PENCOM), Aisha Dahiru Umar, Thursday said, there will be no delayed payment of pension to retirees of Federal government agencies anymore.

Reacting to inquiries on delayed payment of pension and other challenges being faced by retirees, she said, arrangements have been concluded for retired officers to be paid a week after retirement.

Umar was responding to the Senate Committee on Finance’s inquiries in the ongoing meeting on the 2023 – 2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) sitting in Abuja.

The PENCOM boss also declared that the sum of N14.5 trillion pension fund in the vault of the Commission was not idle as being portrayed in some quarters, disclosing that the amount was invested.

The PENCOM boss said the backlog of accrued rights component of pension payments to Pensioners causing delay in payment over the years, is almost cleared by the Federal Government.

She revealed that the FG has been paying N49 billion consistently every month as pension with the intention of clearing the backlog of pension arrears.

She said: “Late payment of pension to pensioners will be a thing of the past very soon as required steps in that direction have been taken by the federal government whose retirees are affected.

She, however, advised pensioners to carry out required documentation a year to their retirement in fast tracking the whole process.

The Committee Chairman, Senator Solomon Adeola Olamilekan, however, said the yearly repeated N102 million overhead subvention given the agency by the federal government will be removed aside the N26 billion yearly inserted into the Commission budget without cash backing.

Source: https://dailypost.ng/2022/09/15/pensioners-to-get-paid-a-week-after-retirement-pencom/

Nigeria can be better if only we are ready to change it beyond tribal and religious sentiment. In brotherhood, we stand.

Lols, Good

You say what?

You say my pension dey abule Egba?

Good developments

lol A week for dream.....

No be Nigeria again wey one Govt wey enta when you retire start telling you dere is no money on ground for pensioners.....

Pencom is one big scam considering how fast the Naira loses it value YOY and the reduced life expectancy in Nigeria...

Imagine having 5million Naira funds in your 20years in service and retirement only to discover 5million Naira in 20years time is worth 100,000 Naira today's value.

Pencom should allow people have access to their funds anytime. Don't release funds to people when it's worthless or they're no more.

Noted.

Story, story, story!!!
If you believe this, then Santa � is real like me and you.

Nice development, how can u retire after working for 35years(Old already, without work), then have to wait for another 3years before getting your pension..
N.B: At most states

WHAT OF PRIVATE COMPANIES THAT DEDUCT WORKERS PENSION CONTRIBUTION AND DO NOT REMIT!!!!

No be this same pension account, federal government dey chook eyes to come borrow from.

Chai... Government of borrow borrow.

Ok naa..
..
A LOT OF THINGS WERE SAID..
NONE WERE DONE.
YET THEY CONTINUED SAYING MORE THINGS.
AND THEY KNOW THAT THEY ARE NOT GOING TO DO THEM.
..
..
Meanwhile...
INEC SHOULD JUST CONDUCT FREE, FAIR, CREDIBLE, AND TRANSPARENT ELECTIONS IN 2023, WHERE EVERYTHING IS BARE AND OPEN...
WHERE THERE WOULD BE ABSOLUTELY NOTHING TO HIDE FROM THE PUBLIC
(INCLUDING THE FULL BREAKDOWN OF THE RESULTS)..
..
Dasssol..

3 years after retirement, my mum is yet to see shi-shi till date.

Federal government now doing yahoo

Governors and head of states get theirs immediately their tenure ends

It's left to states.


Most Governor's won't pay till after many months

Spaxon:
It's left to states.


Most Governor's won't pay till after many months

Your governor Udom with his big head is number one on the list.

PlayMaker14:
Your governor Udom with his big head is number one on the list.

Well, I wouldn't say you're wrong.

From what I do hear, he's doing bad

Spaxon:


Well, I wouldn't say you're wrong.

From what I do hear, he's doing bad

Atiku just made him the DG of his campaign... The little funds in the AKS coffers will be wasted to enthrone the old Adamawa politician.


Good morning Spax.

Aunty stop stealing pensioners money, pay him or her all his money when they retire. Stop paying them in bits and pieces, it does not help them. Pay them their money 100% when they retire and also retire them from your payroll. You can give them 2 weeks training on how to make use of their money after retirement with advisory support if needed and then free them

Why not on the day of retirement?

wow. couldnt be better. positive

Ma bend sha

Chai.
You people are bloody liars.
Stop coming out to say what you can't do.
Nigeria is a big mistake of a country.
My papa retired getting to 15 yes now and yet Abia state government still dey use dab old man dey play Kalangolo

Na wah.

“ The PENCOM boss also declared that the sum of N14.5 trillion pension fund in the vault of the Commission was not idle as being portrayed in some quarters, disclosing that the amount was invested”.

Please help us ask where they invested N14.5 trillion.
Invested where? These people get mind o.

story, story!!!If believe � ... Sorry, check my profile if you need help with your dissertation, assignment, statement of purpose, personal statement, or thesis.

Nigeria govt and mouth

Nice. Nigeria will be great again.