A recent report by the National Pension Commission that many states in the country are yet to fully implement the Contributory Pension Scheme is very disturbing. Only six states and the FCT, according to PENCOM, have fully implemented the scheme with regular and up-to-date remittance of pension contributions, the establishment of a pension bureau and enactment of pension law.
It was in a bid to move beyond this tragic situation that the Pension Reforms Act of 2004 was enacted. It was, as the name suggests, designed to address the failures of the old scheme—the Defined Benefit Scheme . In its place, the CPS was introduced wherein both the government and the workers themselves are to save up a given amount of their earnings towards building up an accumulated funds reserve which the worker can fall back on after retirement.
PenComNig you people have failed a lot of retirees in this country, after serving the country for over 35 years. My father retired as an assistant director in the federal parastatal since January 2019. Up till today you have refused to pay his pension or gratuity.
The MONKEYS and BABOONS are now after the funds. Claims that the funds are idle and will be borrowed to them should be resisted by the labor vehemently.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Police to spend N400 million annually on pensionersThe Nigeria Police Force (NPF) Pensions Ltd has set aside N400 million annually to cushion the effects of delayed payment of pension benefits to police retirees.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
A Nation of Marlians! - THISDAYLIVEFrom the killings of innocent villagers by Katsina State bandits to the abandonment of more than 600 corpses in a Delta State hospital, life has become very cheap in Nigeria. Demoralised by what I see around me, I thought it was going to be another of those weeks of doom and gloom. But it was …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Oil Discovery in North will Hasten Restructuring, Says Afe Babalola - THISDAYLIVEThe founder of the Afe Babalola University, Ado Ekiti, Aare Afe Babalola (SAN), has said the discovery of crude oil discovery in the North will quicken the restructuring of the country. Babalola spoke in Lagos yesterday at the maiden edition of the Goke Omisore Annual Lecture organised by the Voice of Reason. He was, however, …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
State Police: Gambari Seeks Adoption of 2014 Confab Report - THISDAYLIVEA former Minister of External Affairs, Amb. Ibrahim Gambari, has declared that Nigeria must go back to the reports of the National Conference (Confab) held in 2014 in order to effectively tackle Nigeria’s security challenges, which have given rise to agitations for state policing. Gambari opined that it has become important to use many recommendations …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Suspected Herdsmen Attack Adamawa Community, Kill Village Head, Destroy Houses - THISDAYLIVEBy Daji Sani Bang Community in Lamurde Local Government Area of Adamawa State has been attacked by suspected armed herdsmen who killed the village head, Chief Alfa Yayu. Reports from the community said armed herdsmen in their hundreds stormed Bang community at about 10pm on Wednesday and destroyed many houses under reconstruction due to past … This is a serious act terrorism in adamawa our government should upon this crisis is getting worst everyday there must be a reason behind those attacks which is happening everyday in our country mostly in North.. MBuhari the indispensable Major General ....is on top of the matter
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Direct NCAA, FAAN to Grant Operational Rights to Bayelsa Airport, House Urges FG - THISDAYLIVEBy Adedayo Akinwale The House of Representatives has called on the federal government to direct the National Civil Aviation Authority (NCAA) and Federal Airport Authority of Nigeria (FAAN) to grant operational rights to the Bayelsa airport. The resolution of the House was sequel to the adoption of a motion of urgent national importance moved by …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »