FG sets up committee on pension liabilities

President Muhammadu Buhari has approved the constitution of an inter-ministerial committee on pension liability to reconcile outstanding pension liabilities and proffer solutions to the lingering problems.

With Minister of Finance as chairman, other members of the committee include a representative of the Secretary to the Government of the Federation, representative of the Head of Service of the Federation, the Accountant General of the Federation, Director General of the Budget Office, Director General of PENCOM, and Director General of PTAD who will also act as Secretary.

A statement from Media Adviser to Minister of Budget and National Planning, Akapandem James gave the duties of the committee to include reviewing and reconciliation of all pension liabilities of the Federal Government.

It will also recommend what portion of the liabilities can be funded through budgetary appropriations, and suggest creative ways of funding the balance

It has four weeks to conclude its assignment and report back to the President.

It will be recalled that the Minister of Budget and National Planning, Senator Udoma Udo Udoma and his Finance counterpart Mrs Kemi Adeosun, appeared before the House of Representatives on Thursday where they informed members of the approval by the President for the setting up of the Committee.