President Buhari Clears Backlog of Pension Arrears He Inherited

Minister of finance, Kemi Adeosun took to her Facebook to clear the air on backlog of pension arrears that has put many to untold hardship.

The minister said “I’ve got great news to share, regarding Federal pensioners who retired under the Contributory Pension Scheme without being paid.”

Finance minister further made some clarification on the years affected, “we have now cleared the inherited arrears of benefits for 2014, 2015 and 2016, by releasing N41.5 billion to the National Pension Commission (PENCOM) for payment to affected retirees.”

“We have also released the sum of N12.5 billion to cover outstanding payments for January, February and March 2017, bringing the total payment to N54bn.” Kemi said.

Despite conflicting demands for available cash, President Muhammadu Buhari has always expressed concern about the plight of workers and pensioners.

These payments will bring relief to thousands of our elders who have served, and deserve to be paid their entitlements promptly and fully.

Kemi Adeosun added that “with these payments I’m pleased to say that we have now cleared the Contributory Pension Scheme arrears that the Buhari Government inherited.”

To avoid fresh accumulation of arrears, the minister said “we will from now on ensure that monthly allocations to National Pension Commission (PENCOM) are regularly made alongside monthly salaries to Ministries, Departments and Agencies (MDAs).”

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