Pensioners urge PenCom to implement unpaid 15% increment

Pensioners under the Contributory Pension Scheme (CPS) have appealed to the National Pension Commission (PenCom) to implement their 15 and 33 per cent pension increment and other benefits.

The Contributory Pensioners Union of Nigeria (CPUN), South-West Zone, made the appeal on Tuesday during a peaceful protest held in Ibadan.

The CPUN President, Mr Joseph Idowu, while addressing newsmen said that PenCom has yet to implement the increment since 2007 and 2010 in spite of various promises.

Idowu said that their counterparts, under the Defined Benefit Scheme (DBS), had been enjoying the increment through the proactive stand of Pension Transitional Arrangement Directorate (PTAD).

“The new consequential adjustment in pension due to the latest increase in workers’ salaries and wages are also being enjoyed by pensioners under DBS, neglecting the CPS pensioners.

“No CPS pensioners has received any interest on their accrued benefits since 2007 till date.

“We require your urgent attention to ensure that arrears on this are calculated and paid at the Federal Government official rate, as at the time of retirement,” Idowu said.

The president said that his members were suffering as some of them collect as low as N3, 000 as their monthly pension which was not accepted.

Idowu, also said that his members were not happy with the delay in the payment of their retirement benefits, which the commission now paid after one year of retirement, contrary to PRA Act 2004 (Amended).

He said that Section 16 (5) of PRA Act 2004 says pensioners should be paid not more than three months after retirement.

Idowu, however, commended the commission for prompt payment of their monthly pension, urging them to priotise welfare of pensioners under the CPS.

Also, a member of the union, Mrs Clara Fumilayo, called on the Federal Government to assist the pensioners,

Fumilayo said that their monthly pension could no more buy any tangible things based on the situation in the country.