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Home PENSIONS: Achievements, of APC's administration...

PENSIONS: Achievements, of APC’s administration…

PENSIONS

In January 2019, President Buhari launched Nigeria’s Micro Pension Scheme – which allows self-employed persons and persons working in organisations with less than 3 employees to save for the provision of pension at retirement or incapacitation.

The Buhari Administration is prioritizing the payment of pension arrears owed staff of current and privatized/defunct Federal agencies:

N54 billion released to settle outstanding 33% pension arrears (the 33% pension arrears date back to 2010 when the minimum wage was increased to N18,000).

Delta Steel Company (liquidated in 2005): 3,542 pensioners have now been placed on the payroll, ending a 13-year wait for their entitlements.

NITEL: 9,216 pensioners payrolled, after more than a decade of neglect

Retired Biafran Police Officers (dismissed by the Federal Government in 1971, after the Civil War ended, and pardoned by President Obasanjo in 2000): President Buhari approved the payment of the pensions, unpaid since their pardon in 2000. N571.56 million was paid to a total of 174 beneficiaries in October 2017

Nigeria Airways: President Buhari approved the release of N24 billion in September 2018, for the settlement of 50% of workers disengaged when the airline was liquidated in 2003/4.

Recoveries: The Pension Transitional Arrangement Directorate (PTAD) has recovered cash and non-cash assets totaling N16 billion previously trapped in various insurance companies and underwriters managing the pension funds of Federal Parastatals and Universities.

KATSINA CITY NEWShttps://www.katsinacitynews.com
Danjuma Katsina, Dan Jarida, Manazarci, Marubuci, Mamallakin Jaridun KATSINA CITY NEWS, JARIDAR TASKAR LABARAI, THE LINKS NEWS, a karkashin Kamfanin MATASA MEDIA LINKS NIGERIAN LTD

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