Pensioners demand payment of accrued rights
Concerned by the deteriorating conditions of NUP/CPS Retirees in Nigeria, Stakeholders have pleaded with the Federal Government to release funds for the payment of accrued rights portion of retirees’ pension benefits. The Stakeholders, majorly Pensioners from Federal and Lagos State governments, under NUP/CPS Lagos State Chapter and Lagos Sector stated this in a communique issued in Lagos on Tuesday. The Group accused the Accountant General of the Federation, Mrs. Oluwatoyin Madein for the refusal to release funds for payment of accrued rights as appropriated by the National Assembly in 2023 and 2024 Budgets. The Stakeholders also claimed Federal government is yet to pay outstanding accrued rights, arising from Pension increment of 2007, 2010 and consequential adjustment of 2019, which includes 20% – 28% increase of 2024 as well as the approved N32,000.00 pension increase across board, arising from the current minimum wage of N70,000.00. The Stateholders also demand the implementation of three months palliatives to Pensioners by the Federal Government. “Denial of Pensioners of the National Health Insurance Scheme NHIS,and that the Contributory Pension Scheme, CPS, from inception in 2004,is a disaster, a one-chance Agenda, in which Nigerian workers wereblindfolded to accept. “The Stakeholders condemned in strong terms, the withholding ofpension money of CPS Retirees by African Alliance Insurance, AAI asthey have resorted to eating crumbs on the table. “To avert a nation-wide protest, President Bola Ahmed Tinubu is urged to take Executive action by directing release of funds for payment of outstanding accrued rights and pension increment to CPS Retirees in nodistant time. “Taking into account, the Pension Reform Act of 2004 and 2014, theStakeholders demand fairness and equity from PENCOM for all CPSRetirees and call for a review of the Pension Reform Act.” They commended Lagos State Governor, Babajide Sanwo-Olu forapproving the payment of accrued interest for CPS Retirees in the stateand urged him to actualize it to enable them enjoy the yuletide period.