The Federal Government of Nigeria has released the sum of ₦13.89 billion for the payment of 2022 retirees’ Accrued Pension Rights (APRs), the National Pension Commission (PenCom) has revealed.
In a statement released yesterday and obtained by PensionTalk, PenCom stated that the sum released represents the accrued pension rights of retirees of Treasury-Funded Ministries, Departments and Agencies (MDAs) who retired in the year 2022. It further stated that this is being processed into various affected retirees’ Retirement Savings Accounts (RSAs).
The statement reads:
“The National Pension Commission (PenCom) is pleased to inform all its stakeholders, particularly retirees of Treasury-Funded Ministries, Departments and Agencies who retired in the year 2022, that the Federal Government has released the sum of N13.89 billion for the payment of their Accrued Pension Rights.
“The Accrued Pension Rights represent an employee’s benefits for the past years of service up to June 2004, when the CPS came into effect
“Accordingly, PenCom is processing remittances into the various Retirement Savings Accounts of the affected retirees, and their Pension Fund Administrators will notify them in due course
“Finally, PenCom appreciates the efforts of His Excellency Mr. President for his untiring support and commitment to the implementation of the CPS and ensuring the welfare of retirees.”