FG Approves Fresh N22bn for Verified Retirees Accrued Pension Rights
Oladipupo Olamiposi@olamiposioladipupo247606
3 hours ago
The Federal Government has announced the release of an additional 22 billion naira through the Office of the Accountant General of the Federation for accrued pension rights of verified retirees under the Contributory Pension Scheme.
According to a statement released by the National Pension Commission, PENCOM, the fund is for those who retired between October 2023 and January 2024.
The statement explained that the funds were disbursed into the Retirement Benefits Bond Redemption Fund Account at the Central Bank of Nigeria.
It also pointed out that accrued rights of some deceased employees are also covered, saying the funds have already been credited to their Retirement Savings Accounts via Pension Fund Administrators.
The commission directed Pension Fund Administrators to fast-track the payment process for all verified retirees, advising retirees to complete the necessary documentation to access their retirement benefits.
