The Nation Newspaper

Tag: retirees

  • ‘Give special attention to retirees’

    ‘Give special attention to retirees’

    Yaba Local Council Development Authority (LCDA) Chairman Kayode Adejare Omiyale has urged all tiers of government to pay special attention to retirees.

    Omiyale spoke when he received members of the Association of Local Governments’ Retirees in Nigeria.

    According to him, senior citizens worked hard for the country’s growth and must not be deprived of their retirement benefits.

    “I am mindful of the current economic recession in the country but their issue should be of great concern to all well-meaning Nigerians, at the local, state and federal levels.

    “When we fail to pay their gratuities and pensions, it sends a wrong signal to those who are still in active service. This is a clear indication why some civil servants dip their hands into the public treasury, knowing full well that they might suffer after retirement, if they would have to depend solely on what they stand to earn from gratuities and pensions.

    “Civil servants can loot and steal when this very important issue is not addressed properly. The contributory pension scheme is a beautiful idea, but let pensioners collect their gratuities on time. They should look up to retirement with joy in their hearts, not what it is in the country today.”

    The association’s secretary, Rev. Omo Ilune, asked other states to be like Lagos by paying retirement benefits promptly. He urged Lagos State to pay up the outstanding arrears agreed upon with the pensioners.

  • Lagos releases N515m to 252 retirees

    The Lagos State government has paid N515 million to another batch of 252 retirees.

    Governor Akinwunmi Ambode, represented by the Ministry of Establishments, Training & Pensions Commissioner, Dr. Akintola Benson, made this known at the 41st Retirement Bond Certificate Presentation in Ikeja.

    Ambode said the payment of retirees’ entitlements was to ensure that retirees enjoyed their benefits.

    He advised the retirees not to put their money into ventures they could not manage.

    He said in 24 months, August 2015 to last month, the government through the Lagos State Pension Commission ( LASPEC), had paid  N29.6 billion pension into the Retirement Savings Account (RSA) of 6,982 retirees.

    He said this was aside the mandatory 15 per cent contributions, which the government remits monthly into the RSA of its employees.

    LASPEC Director- General, Mrs. Folashade Onanuga, added that last month, the agency also released insured death benefit cheques of over N30 million to 24 beneficiaries/next of kin-of-deceased employees. He reiterated that the retirees should not use the money on projects, such as building a house that could not be completed.

    She emphasised the importance of educating their children. She stressed that while it is good for them to eat the fruits of their labour, it would not be too good if they had to depend on their children for survival. She urged them not to allow anyone force them into opting for a particular exit option, that is Programmed Withdrawal and Annuity; rather, that they should think deeply over any type that will suit them before going for it.

     

  • Lagos pays retirees  N684m

    Lagos pays retirees  N684m

    The Lagos State government  has released N684 million as accrued pensions to 218 retirees.

    The payment was made to retirees from the Mainstream Civil Service, Local Governments, State Universal Basic Education Board (SUBEB), Teachers Establishments and Pensions Office (TEPO) and other parastatals of government under the Contributory Pension Scheme for last month.

    Lagos State Pension Commission (LASPEC) Director-General, Mrs. Folashade Onanuga, who spoke at the 40thRetirement Benefit Bond Certificate Presentation in Lagos, said the retirees having served the state deserved to be treated like elder statesmen.

    She said they were entitled to receive their pension promptly like  workers.

    She urged the beneficiaries to maintain a low profile, eat healthy food and exercise well, adding that their body needs rest and moderation.

    She explained that though there are two options for receiving monthly pension entitlements – the Programmed Withdrawal and Life Annuity options – not many insurance firms have received the National Pension Commission’s (PenCom) nod to transact Annuity business.

    She said though Leadway Assurance Plc, FBN Insurance Custodian Life and ARM life have got the approval, only Leadway Assurance & ARM Life can offer annuity services for the  government’s retirees.

    Meanwhile, LASPEC has been recognised as the ‘Best Public-Sector Pension Administrator in West Africa’ by the West Africa Innovation Awards   in Lagos.

    Mrs Onanuga made this known at the event,praising the agency for the award.

  • Retirees hail Lagos on pension payments

    Retirees hail Lagos on pension payments

    Retirees in Lagos State yesterday praised the state government for its commitment of paying them promptly.

    They told the News Agency of Nigeria (NAN) that the state government had consistently ensured that contributions are remitted into Retired Savings Account (RSA) since 2007, when the state subscribed to the Contributory Pension Scheme (CPS).

    NAN reports that the Director-General of Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga at 12th the Retirement Benefit Documentation Seminar held on June 7, said the state had expended N28.5 billion on 6, 509 pensioners in the last two years.

    Mrs Onanuga said a total of N62 billion had been paid into RSA of about 13,675 retirees since the commencement of the payment of entitlements in the CPS in 2007.

    Mr Olusesin Oluwakemi, a former staff of the Ministry of Poverty Alleviation and Woman Affairs said, he was initially displeased when the Contributory Pension Scheme (CPS) was introduced.

    “Later I discovered the idea is a way to help the retirees.

    “The process of payments is now better unlike before, if you retired, you cannot sleep,” he said.

    Oluwakemi pointed out that most retirees before 2009 could no longer afford to take care of themselves because they were owed their gratuities and pensions.

    “Those building houses and have children in universities as the retirees could not get their gratuities and if they ever did,  they will get it probably two years after retirement, ” he said.

    He noted that the scenario had changed since Babatunde Raji Fashola’s administration and up till date, the state government paid promptly.

    “Once a retiree processes his or her documents on time, the gratuity will be paid on time and the monthly payments will be regular,” he said.

    He said challenges might surface when pensioners do not put things in place before retirement.

    “Like not upgrading RSA accounts and documentation of needed papers for processing gratuity, will make some pensioners have problems.”

    Mrs Jemilat Adeyemi, an ex-staff of the Ministry of Lands and Survey also commended the state government for holding retirees in high esteem.

    “It is only Lagos State that holds retirement documentation seminar to ensure retirees peacefully enjoy their retirement lives.

    “I also use this opportunity to commend Mrs Onanuga on efforts of ensuring that Lagos state retirees are  enjoying their lives in retirement.

    “She directed all ministries and agencies to ensure employees are promptly credited,” she said.

    According to her, Lagos remains the only state that fully complies with the provisions of the Pension Reform Law as it relates to contributions remittances.

    She said that pensioners in the last era were not enjoying like now, as Governor Akinwunmi Ambode had been doing well,  especially for the Teaching Service Commission.

    Mr Olusosun Saheed, who worked with Lagos State University Teaching Hospital (LASUTH), praised Ambode on the innovations developed to facilitate gratuity and pension remittances.

    He said that the governor’s investment in the LASPEC on e-environment to ensure the commission delivered seamless service was commendable.

    “Through this, the commission has been able to introduce the Employees Retirement Evaluation System (ERES) to aid and facilitate the benefit payment system.

    “The software is to hasten the process of computing the past service benefits of retirees with minimal human intervention and zero per cent error rate,” he said.

    He also commended Ambode’s perfection of the electronic archiving records of finalising the Retiree Identification Card Issuance process.

     

  • Lagos pays retirees over N28b to 6,509

    Lagos pays retirees over N28b to 6,509

    The Lagos State government has paid accrued pension rights of over N28 billion into the Retirement Savings Account (RSA) of 6,509 retirees in the last 22 months, Commissioner, Ministry of Establishments, Training and Pensions, Dr Akintola Benson, has said.

    Speaking at the 12th Retirement Benefits Documentation Seminar (RBDS)  organised by the Lagos State Pension Commission (LASPEC) for employees due to retire from the state public service between July and December this year, he said the government has continued to remit money into the officers’ account.

    He added that  an approximate N62 billion has been paid into the RSAs of about 13,000 retirees since the commencement of the payment of entitlements in the Contributory Pension Scheme (CPS).

    He said: ”Indeed, we are proud to note that Lagos State remains the only state in the federation that is up to date in its monthly remittances into serving employees’ RSAs.

    “ The RBDS comes up bi-annually and this being the 12th in the series shows that it is a tradition which has come to stay and its importance cannot be underestimated. This seminar is put together for the core civil servants and other employees in the State Universal Basic Education (SUBEB), Teachers’ Establishment & Pensions Office (TEPO), government parastatals and local government staff, who will be retiring from the state’s public service between July and December, 2017.”

    LASPEC Director-General Mrs Folashade Onanuga added that  government remains disciplined in the area of compliance with the provisions of the Pension Reform Law as it relates to contributions remittances.

    She noted that the government is aware that there are pockets of parastatals who have challenges of compliance.

    “The attention of the government has been brought to this and commitment obtained from the management of these agencies that efforts will be made to comply failing which the government will wade into  sanctioning the management of the erring parastatals.

    “On the issue of funding the accrued pension rights, without which, you will not be able to access your retirement savings account and draw your lump sum and monthly pension, the state government’s commitment is also unparalleled.

    “The Retirement Benefit Bond Fund Account is funded monthly with five per cent of employees’ salary as stated in the law.  However, due to the inadequacy of the funding rate as revealed when the state government carried out the actuarial valuation exercise, Governor Akinwunmi Ambode has graciously provided pension bailout funds to meet the obligations.  As we had a backlog before his intervention, the equitable thing to do is to clear the backlog first then ensure payment to subsequent retirees,” she added.

    She further noted that the state government has invested a lot in LASPEC and it operates an e-environment to ensure that it offers seamless service delivery to the retirees.  

    “We have introduced the Employees Retirement Evaluation System (ERES) to aid and facilitate the benefit payment process.

    “This software is to hasten the process of computing the past service benefit of retirees with minimal human intervention and zero percent error rate.

    “We have also initiated and perfected the electronic archiving of records of payments made to retirees of the state for preservation and protection of records. We are in the process of finalising the retiree identification card issuance process,” she added.

  • Obiano pays 385 retirees after 38 years

    Obiano pays 385 retirees after 38 years

    Anambra State Governor Willie Obiano yesterday announced the payment of pensions and gratuities to 385 retirees, after 38 years.

    It was learnt that the governor had released N700 million while payment will begin at the end of June and last till May 2018.

    Commissioner for Information and Strategic Planning, Ogbuefi Tony Nnacheta, addressed reporters yesterday in Awka, the state capital, on the development.

    Some corporations whose retirees have died include Anambra Broadcasting Service (ABS) and Anambra Newspapers Company, publishers of National Light.

    Nnacheta said those involved had been suffering for years, adding that the money had been provided to stop their agony.

    The commissioner said the affected workers were 227 ABS ex-workers, 158 from National Light.

    He recalled that since 1979 and 1992, retired workers of the corporations had not been paid their pensions or gratuities.

    The state government also announced that it is currently handling 181 projects across the state.

    It said 175 of them would be ready at the end of this month.

    Another problem confronting the state, according to Nnacheta, is that some projects, which had been abandoned in the communities for the past 30 years, were being resuscitated.

    He said about 50 of them had been identified and approved, especially schools and health facilities.

    The commissioner said there were 12 ongoing road projects in the state, despite the recession.

    Nnacheta said 50 physically challenged persons had been given jobs in the civil service, including the position of a permanent secretary, which he said had never happened anywhere else.

    He noted that despite distractions from certain quarters and the opposition, the Obiano administration had not derailed from ensuring that Anambra residents enjoyed dividends of democracy.

  • Retirees defend union president

    Electricity Sector Retirees Association of Nigeria (ESREWAN) has denied allegation of corruption and violation of labour laws levelled against its President,  Chief Temple Ubani and other executive members by the electricity branch of Nigeria Union of Pensioners (NUP).

    Reacting to a statement by the interim leadership of the Electricity sector branch of the NUP, asking security agents and the nation’s anti-corruption agencies to investigate and prosecute  Ubani and his executive members over alleged cases of embezzlement, the ESREWAN, in a communiqué by Chief Temple Ubani and his deputies said the allegation of disobeying the labour laws by suspending the National Secretary of the union, was baseless.

    The NUP had accused the ESREWAN president of relieving the sector National Secretary, Kayode Ogunbiyi of his post and has been personally administering the sector without a secretary.

    However, the statement said the association duly informed the NUP headquarters through series of letters of its intention to advertise the position in national dailies as the position was not an elective one, but through formal employment.

    ESREWAN recently broke away from the Electricity sector branch of the NUP.

    ESREWAN dismissed the claim that members  signed off their membership of the NUP when they decided to form a new union, pointing out that they decided long ago to pull out of the NUP as a result of persistent refusal to recognise and abide by the extant memorandum of understanding (MoU) signed between them in 2006.

    The union said the decision to pull out of the NUP was taken at a special delegates’ conference in Asaba, adding that the conference resolved “that consequent upon the persistent refusal by the NUP to recognise and abide by the Extant MoU of June 2006 between NUP and their sector, we have resolved to ‘PULL OUT’ of the relationship with NUP Headquarters.

    ‘’That our sector leadership at all levels and organs as presently constituted shall continue to remain in office under the name: Electricity Sector Retirees Association of Nigeria (ESREWAN) or any other name to be approved.

    “That out association shall reserve the right to affiliate with any identified friendly organisation with similar interest and objectives for mutual benefits.

    “That the Special National Delegates Conference in session hereby totally and unequivocally reject the purported suspension of our National Sector President, Chief Temple Ubani and the National Sector Treasurer, Comrade Benjamin M. Amako.’’

  • ‘Increase retirees’ enrolment in contributory pension scheme’

    ‘Increase retirees’ enrolment in contributory pension scheme’

    The  Interim Chairman of the Management Committee of the First Guarantee Pensions Limited Comrade Issa Aremu  has called on the new management of the National Pension Commission (Pencom) to increase contributory pension scheme enrollment figure. He made this call  at a news conference in Abuja.

    Aremu, who is also the General Secretary of National Union of Textile, Garment and Tailoring Workers of Nigeria, noted that the current enrolment of less than seven million subscribers in the National Pension Commission was inadequate compared to the over 80 million  workers in the country.

    He  said: “The over six million workers already captured under the reform is commendable. But this number is a far cry from over 80 million potential work force in Nigeria.

    “The N6.5 trillion  funds contributed so far can hardly meet the future income adequacy of retirees, which underscores the need for an intensified effort on the part of the incoming leadership.”

    He stressed the need for all retirees under the scheme to be  paid their benefits as at when due.

    Aremu said under the previous management, pension assets grew from N2.9 trillion in 2012 to over N6.5 trillion in 2017, due to  the efforts of the past leadership of the Pencom.

    He recalled that Pencom set up the management with the mandate to superintend over the affairs of the Pension Fund Administrators (PFA) under the direct supervision of the commission after the former management was dissolved “for unsound corporate governance practices, which had significant adverse implication for the pension assets under the management of the PFA”.

  • Lagos disburses N11.75b to retirees

    Lagos disburses N11.75b to retirees

    Lagos State government disbursed N11.75 billion to retirees last year.
    Commissioner for Establishment, Training and Pensions Dr. Akintola Benson Oke said yesterday the amount was paid into the Retirement Saving Account (RSA) of 2,886 retirees.
    He said 1,291 were from local governments and SUBEB; 697 from TEPO; 887 from mainstream service and 11 from parastatals.

  • Fed Govt pays N54b to retirees

    The Federal Government yesterday an-nounced the payment of N54 billion accrued benefits of all employees of the Treasury Funded Federal Ministries, Departments and Agencies (MDAs) who retired between January and August last year and were duly enrolled.
    The government advised the retirees who fall under this category to contact their pension fund Administrators (PFAs) to commence the collection of their retirement benefits.
    Head, Corporate Communication, National Pension Commission (PenCom), Emeka Onuora, in a statement, explained that arrangements were being made to pay the next batch comprising those who retired between last September and December.
    He said: “On behalf of the Federal Government, the Commission would like to salute the courage, patience and perseverance of the retirees during the period when resources were mobilised to pay their accrued rights.”

    s“Arrangements are being made to pay the next batch consisting of those who retired between September and December of 2016.
    “The Commission remains solidly committed to ensuring that retirement benefits are paid as and when due.”