The Federal Government has released 16.67 billion naira for the payment of Accrued Pension Rights to 2021 retirees of treasury-funded Ministries, Departments and Agencies, MDAs.
In a statement the National Pension Commission, PenCom, said yearly report for 2020 posted on its website, the Federal Government released over 65, billion naira into the Retirement Benefits Bond Redemption Fund, RBBRF, account for the payment of accrued rights to retirees MDAs.
Also, according to PenCom, the government released 11.82 billion naira for payment of accrued pension rights of retirees under its MDAs in January.
According to PenCom, the settlement of the outstanding accrued pension rights of verified and enrolled Federal Government retirees and compliance with the reviewed rate of pension contributions are significant developments that have resolved the challenges in these aspects that have lingered since 2014.
