The Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) has called for a consequential adjustment in pension, arising from the implementation of the National Minimum Wage (Amendment) Act, 2024.
The National Chairman of NUPCPS, Mr Sylva Nwaiwu, at a news conference in Abuja on Tuesday, also urged the Federal Government to pay N32,000 pension increment to pensioners.
Nwaiwu noted that workers, who retired from the Contributory Pension Scheme (CPS) over 20 months ago, were yet to be paid their retirement benefits.
He said that CPS retirees were excluded from the three pension increments paid or approved by the present administration to retired public servants.
“Also, the release of funds for accrued rights to retired workers accumulated to more than 20 months, however, three months of accrued rights were released after a peaceful rally by the union at the office of the Accountant General of the Federation on Oct. 23.
“We still have a backlog of 18 months yet to be released and this unfortunate present development is a cause of concern and worry to us as retired workers under the CPS,” Nwaiwu said.
He added that retirees under the CPS had become endangered species, highly famished, dehumanised, and subjected to untold hardship in the country.
The chairman said that many retirees were bedridden, while others died without enjoying the fruits of their labour after working for 35 years.
Addressing the pensioners who had besieged the Ministry of Finance in Abuja, Coordination minister for the economy, Wale Edun, said the federal government takes seriously the welfare of workers.
Edun said that so far, the government has been able to pay N22 billion out of the N88 billion appropriated for pension payment in the 2024 budget.
The minister added that starting from next week, the government would commence the payment of the remaining N66 billion in the 2024 budget.
“We have a plan for dealing with the backlog under the Contributory Pension Scheme. In addition, there are some, under the current budget of about N88 billion, N22 of which has been paid. And that balance, we are committed to pay it. It has to be paid this year. We are committed to doing that starting from next week.
“In terms of the longer term, it is a huge amount, and we have to have a solution that takes care of everybody. That is being worked on. It’s going to be a question of going to the capital market and raising an instrument that allows that backlog to be cleared once and for all. In the immediate term, there will be payment for what is under the current budget and we are working, and we are going to present to Mr President a viable solution using the financial market taking care of the huge backlog under the contributory pension scheme. Your funding under the budget will be paid. We will start next week and pay everything that we can under the current budget as approved by the national assembly,” the minister said.
