FG Releases N16.6bn Accrued Pension For 2021 MDA Retirees

The Federal Govern­ment has approved the release of N16.67 billion for the pay­ment of accrued pension rights to 2021 retired workers, the National Pension Commission (Pen­Com) has confirmed.

The retiring workers, ac­cording to PenCom, will be from treasury-funded minis­tries, departments and agen­cies (MDAs).

The statement added that the Federal Government had earlier settled all arrears of ac­crued pension rights payments to the verified and enrolled re­tirees up to December 2020.

It would be recalled that PenCom in June said Presi­dent Muhammadu Buhari ap­proved the payment of unpaid pension liabilities to retirees of Federal Government trea­sury-funded ministries, depart­ments, and agencies (MDAs).

The commission had said that the Federal Government is willing to comply with the reviewed rate of pension con­tributions.

Part of the statement read: “The National Pension Com­mission (PenCom) is pleased to announce the release of N16.67 billion by the Federal Govern­ment for the payment of Ac­crued Pension Rights to 2021 retirees of Treasury-funded Ministries, Departments and Agencies (MDAs).

“The Federal Government had earlier settled all arrears of accrued pension rights payments to the verified and enrolled retirees up to Decem­ber 2020.”