The Acting Director-General, Aisha Dahir-Umar, in a statement made available to journalists in Lagos said the amount will cover four months pension arrears.
The National Pension Commission, the regulatory body for pensions in Nigeria has also shared this information on its official Twitter handle.
FG RELEASES N14.92bn FOR ACCRUED RIGHTS FOR CPS RETIREES pic.twitter.com/VURHFou2qt
— Natl Pension Comm (@PenComNig) August 24, 2020
Aisha Dahir-Umar stated that the monies will begin to hit different Pension Fund Administrators (PFAs) account and the PFAs will immediately commence payments into different Retirement Savings Accounts (RSAs) of retirees.
The National Pension Commission Head of Corporate Communication, Peter Aghahowa has said that the accrued pension rights represent an employee’s benefits for the past years of service up to June 2004, when the Pension Reform Act that birthed the CPS, came into effect.
Aghahowa said that the Commission commends the efforts of the federal government for ensuring that the accrued rights arrears were cleared.
He also thanked the affected retirees of the Treasury-Funded Agencies for their patience.
— to www.devdiscourse.com