Posted by Amarachi on Tue 12th Nov, 2024 - 91²Ö¿â
The protest, led by Comrade Sylva Nwaiwu, National Chairman of the National Union of Contributory Pensioners, demands the immediate release of their entitlements.
Aggrieved pensioners have blocked access to the Federal Ministry of Finance in Abuja to lament the delays in their accrued pension rights.
The protest, led by Comrade Sylva Nwaiwu, National Chairman of the National Union of Contributory Pensioners, demands the immediate release of their entitlements.
Accrued rights represent pension benefits earned under the old scheme prior to the establishment of the Contributory Pension Scheme in 2004.
According to the Pension Act, these entitlements were to be transferred to Pension Fund Administrators (PFAs) for retirees to access upon retirement.
Comrade Nwaiwu stated that many pensioners who retired as far back as 2003 still await payment of these entitlements to their PFAs by the federal government, preventing them from accessing funds through the PASS.
More details later…