Group flays SEC’s failure to pay entitlement to pensioners for over 10yrs

In a statement made available to The Guardian, the association also alleged that the commission has failed to offset the new pension increment and arrears from the consequential adjustment on minimum wage for pensioners.

“This is despite the huge resources at the disposal of the SEC and the generous additional benefits given to staff and the political appointees. The retirees have had to engage a lawyer from their meager resources to pursue negotiations with SEC and to take their case to court. They pointed out that the non-compliance with laws and regulations guiding the management of pension funds, including the lack of transparency in the selection of its Pension Fund manager , has resulted in negative returns and possibly the reasons for non-payment of their benefits.The group stated that it has resolved to seek the intervention of relevant authorities and the court to get Justice considering the hostile repulsive attitude from the SEC.

“In view of the large sum involved, the payment will involve breaking of investments at maturity date which may delay timely payment.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Burundi rebel group claims airport attack | The Guardian Nigeria News - Nigeria and World NewsA rebel group has claimed a series of mortar attacks launched overnight on the airport of Bujumbura, Burundi's economic capital, a day before President Evariste Ndayishimiye was due to fly out for the UN General Assembly in New York.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Enugu Group Condemns Onoh's Petition Against Foreign Affairs MinisterA group under the aegis of Enugu Concerned Professionals (ECP), has faulted the recent attack on the Minister of Foreign Affairs, Geoffrey Onyeama, by a
Source: LeadershipNGA - 🏆 4. / 77 Read more »

IS-linked terror group leader shot dead in Indonesia - Punch NewspapersIS-linked terror group leader shot dead in Indonesia
Source: MobilePunch - 🏆 8. / 63 Read more »

2023: Group disowns Yahaya Bello/Fani-Kayode presidential campaign postersA support group for the presidential ambition of Kogi State Governor, Yahaya Bello, Nigeria Youths Awareness Group, has disowned presidential campaign After Nigeria ban, i wonder what this media is still doing here The poster depict two strange men floating on rough waters.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Group Tasks FG On Enabling Environment For Female EngineersPresident, Association of Professional Women Engineers of Nigeria (APWEN), Funmilola Ojelade, has urged the federal government to provide an enabling
Source: LeadershipNGA - 🏆 4. / 77 Read more »

LBS alumni group offers free medical care to Lagos community - Punch NewspapersThe most widely read newspaper in Nigeria
Source: MobilePunch - 🏆 8. / 63 Read more »