PENCOM RELEASES ADDITIONAL N22BN FOR RETIREES ACCRUED PENSION RIGHTS
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GREATRIBUNETVNEWS–The National Pension Commission (PenCom) has announced the release of an additional N22 billion for the settlement of accrued pension rights of retirees of Federal Government Ministries, Departments, and Agencies (MDAs). This payment is part of the 2024 Appropriation for the period July to September, facilitated by the Office of the Accountant General of the Federation (OAGF)
The funds have been deposited into the Retirement Benefits Bond Redemption Fund (RBBRF) Account at the Central Bank of Nigeria. This payment aims to address unpaid accrued pension rights for retirees under the Contributory Pension Scheme (CPS).
Specifically, the funds have been utilized to settle the accrued pension rights of verified retirees enrolled between October 2023 and January 2024, as well as some deceased employees.
The remittances have been credited directly to the Retirement Savings Accounts (RSAs) of the affected retirees via their respective Pension Fund Administrators (PFAs) .
This recent release brings the total amount disbursed for accrued rights settlement to N66 billion, as reported by BusinessDay
