Pension payment subject to funding, FG tells retirees
Posted by Oyinlola on November 28, 2024
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The Federal Government, through the Office of the Accountant General of the Federation, said the payment of accrued rights of pensioners under the Contributory Pension Scheme is subject to the availability of funds from the government.
The OAGF made this known in a memo signed by Musa Raheem, Director of Administration addressed to the National Union of Pensioners. I am directed to inform you that the January – March and April to June 2024 allocations have been released to the National Pension Commission. Subject to the availability of funds, efforts are also ongoing to make further releases before the end of the year in order to reduce the outstanding pension liabilities under the Contributory Pension Scheme.
It was reported on Wednesday that the pensioners threatened to occupy the Ministry of Finance on December 16 should their 21-month backlog pension not be paid.
The pensioners had earlier staged a peaceful rally at the Ministry of Finance on November 12, 2024 and had written the Coordinating Minister of Finance and National Economy, Wale Edun, expressing appreciation for the minister’s “mature and civilized“ handling of their grievances.
The pensioners are demanding the immediate release of the outstanding 21 months of accrued rights to retired public workers from March 2023 to November 2024.
They are also seeking payment of unpaid pension increments, including a 15% increase in 2007, a 33% increase in 2010, and a 20% to 28% increase in 2024.The pensioners’ union leadership stated that they had the mandate of their members nationwide to take this action, and they would not back down until their demands were met.
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