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Home ECOWAS Nigeria

Contributory pension scheme lacks implementation credibility: Pensioners

by Diplomatic Info
October 27, 2024
in Nigeria
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Contributory pension scheme lacks implementation credibility: Pensioners
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Some pensioners in Makurdi have described the Contributory Pension Scheme as lacking in implementation credibility.

The pensioners, who spoke with journalists on Saturday in Makurdi, said though the policy was designed to be the best pension scheme, it had failed.

A former federal civil servant, Tsea Humbe, told journalists that the scheme was designed to reduce the frustration hitherto experienced by retirees after exiting service.

Mr Humbe noted that before the scheme’s introduction, most retirees had difficulties accessing their pension many years after retirement.

He said it was based on that challenge that the federal government introduced the scheme to ameliorate the sufferings of the retirees.

“However, this challenge is still staring in the face of the retirees. Most retirees still find it difficult to access their pensions after exiting service.

“I am a victim. I retired in 2020, and I am yet to start receiving my pension. Though the process is ongoing, I have not started enjoying my pension,” Mr Humbe said.

Another retiree, Francis Myaga, called on the federal government to intensify supervision of the Pension Fund Administrators (PFAs) to ensure they were treating pension issues with dispatch.

Mr Myaga expressed optimism that the measure would help retirees start drawing pensions at least two months after retirement.

The retiree, therefore, advised the government to reduce most of the bureaucratic bottlenecks to pave the way for pensioners to have easy access to their pensions.

(NAN)

 

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