Pension

FG releases additional N31.97bn for payment of 2021 retirees accrued pension rights

Naira

*Releases hit N48.64bn

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Chuks Udo Okonta

The National Pension Commission (PenCom) announced an additional release of N31.97 billion by the Federal Government for the payment of Accrued Pension Rights to 2021 retirees of Treasury-funded Ministries, Departments and Agencies (MDAs).

A statement by the Head Corporate Communications Department PenCom Peter Aghahowa, said the release followed an earlier release of the sum of N16.67 billion, thus bringing the total amount released for payment of the 2021 accrued pension rights to N48.64 billion.

The Federal Government had earlier settled all arrears of accrued pension rights payments to the verified and enrolled retirees up to December 2020.

Inspenonline gathered that the released fund is being processed by PenCom and would be made available to pension operators before the end of this month for payment to the retirees.

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