Contributory Pensioners Hit 7.2m – PenCom By Michael Oche

The director general of National Pension Commission (PenCom), Chinelo Anohu-Amazu has disclosed that the total registered participants in the Contributory Pensions Scheme has increased to 7,240,196 as at September 2016.
She also disclosed that the outstanding accrued right due to employees of the federal government that retired between 2015 and October 2016 amounted to N63.34 billion.
The DG who was speaking at the National Executive Council (NEC) meeting of the Nigeria Union of Pensioners (NUP) said a total of 174, 844 persons have retired under the CPS since inception.

The DG, who was represented by the director of surveillance at the commission, M.B Umar said the number comprised 140,532 retirees on monthly programmed withdrawal and 34,312 retirees on monthly annuity.
He said, “The monthly pension payment of the retirees were N4.67 billion and N1.72 billion respectively.”
According to him, despite the success recorded, the CPS has some challenge especially in funding of accrued rights of federal government employees.
President of NUP Comrade Abel Afolayan, while addressing the National Executive Council (NEC) meeting of the Union in Abuja yesterday regretted that many state pensioners were being owed over 12 months, saying that many pensioners across the country are not paid.

Culled from Leadership