NUP commends release of N740bn to settle pension liabilities

The Nigeria Union of Pensioners (NUP) has commended the Acting President, Profession Yemi Osinbajo for the release of N740 billion for the settlement of the outstanding pension liabilities and promotion arrears.

The Minister of Finance, Mrs Kemi Adeosun, while briefing newsmen about the release at the end of the federal executive council meeting last week, admitted that the obligations had accumulated over the last two decades.

Also in a meeting held between the Pension Transitional Arrangement Directorate (PTAD), the House Committee Chairman on Pension and the union on Wednesday July19, was informed that the liquidation of all pension arrears will start in earnest.

Against this background, the NUP appealed to its members nationwide to exercise a little more patience, as the government is ready to facilitate the payment of all entitlements in due course through the treasury bills and bonds.

Through this process, NUP said the payments of the arrears of 33% pension increase, (18 months for civilian pensioners and 39 months for police pensioners) as well as the backlog of arrears of gratuities that were owed pensioners since 2001 shall also be liquidated.

The union said “PTAD will equally commence the verification of pensioners from the South West and North Central zones within few weeks from now. The dates and venues of the exercise will be announced as soon as funds are released through print and electronic media by PTAD accordingly.

“The NUP equally wishes to appreciate the efforts of the Chairman House Committee on Pension, Hon. Hassan Shekarau and the Executive Secretary of PTAD, Mrs Sharon Ikeazor for their frantic and unshakeable efforts in this regard. We call on them and all other well-meaning Nigerians, to join hands with the federal government to ensure that this payment is done without further delay so as to assuage the pains and sufferings of our senior citizens who had worked selflessly fora greater and indivisible Nigeria.”