WorldStage Newsonline– The Federal Government of Nigeria has release N14.92 billion for the payment of accrued rights for retirees under the Contributory Pension Scheme.
The National Pension Commission Head of Corporate Communication, Mr Peter Aghahowa in a statement in Abuja on Monday said the amount will cover four months arrears.
He said that the accrued pension rights represents 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 commend 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.
