PenCom should avoid further deaths of retirees —NUP

The Nigeria Union of Pensioners, Contributory Pension Scheme Sector (NUPCPS) has appealed to the National Pension Commission (PenCom), to av2oid further deaths of pensioners (their members) by issuing an immediate directive to all Pension Fund Administrators (PFAs) and insurance companies to pay the 2.5 per cent differential released by the Federal Government, to them en-bloc.

The union has also called on PenCom Board to urgently approve and commence implementation of the N14,000 minimum pension payable in the contributory pension scheme.

This position was contained in a communique issued at the end of the Central Executive Council (CEC) meeting of Nigeria NUPCPS, held at the NUP national headquarters, Abuja. The position was ratified by all the 35 participants of the (NUPCPS) Central Executive Council (CEC), who attended the meeting from various states of the federation and the Federal Capital Territory, Abuja.

The Union expressed gratitude and appreciation to President Muhammadu Buhari for being pensioners friendly and sensitive to have graciously approved and released the funds for the settlement of outstanding pension liabilities to retirees of the Contributory pension Sector (CPS).

But, the Union demanded and appealed to PenCom to ensure that the money is paid directly to the beneficiaries by the PFAs and insurance companies, to lessen their burden and save them from untimely death, rather than stock in their Retirement Savings Account (RSA) or to boost up the annuity policy balances in insurance companies.

The communique, signed by the National Chairman, Caretaker Committee, Comrade Sylva Nwaiwu and its National Secretary, Comrade Adebayo Martins, said, “the Union demands that the National Pension Commission (PenCom) approves and direct all Pension Fund Administrators (PFAs) and the Insurance companies to commence an en-bloc payment of the 2.5 per cent differential released by the Federal Government, which takes effect from July 1, 2014, directly to all beneficiaries as arrears arising from shortfall of employer pension contribution, instead of coercing retirees to take it either as an addition in part or as a whole to their Retirement Savings Account (RSA) balance or to boost up the annuity policy balances of those with the insurance companies.”

It added: “That; the Union is aware that PenCom is guided by the-Act in her decisions and operations. However, it is strongly believed that administrative approach with a human face by the Commission, as she has done in addressing some of the provisions of the Pension Reform Act 2014 (as amended) through directives to the Pension Fund Administrators (PFAs), would, no doubt effectively, address the desire of the beneficiaries in this regard to avoid further deaths of our members due to increasing poverty experienced by retirees in this sector.”

The pensioners also urged PenCom in collaboration with the National Incomes, Wages and Salaries Commission, to facilitate and fasten payment of the outstanding pension arrears of 15 per cent in 2007, 33 per cent in 2010 and the consequential adjustment arising from the current national minimum wage, which is yet to be paid to retirees under the contributory pension scheme sector unlike their colleagues under the old Defined Benefit Scheme (DBS).

The communique read: “That the Union (NUPCPS) appreciates PenCom’s display of the template for the payment of pension lump sum on their website, but finds it too technical for the understanding of pensioners. It, therefore, appeals that it should be made simpler or for the Commission to organize enlightenment forums in collaboration with the Union on the above subject.

“That the various deductions from retirees’ salaries through the IPPIS platform including the National Housing Fund should be paid promptly to retirees by the authorities concerned. That PenCom should, as a matter of urgency, now that its board has been constituted, implement the agreed and approved amount of N14,400 as minimum pension payable in the contributory pension scheme.”

Also, the Union appealed to the government at all levels to consider payment of gratuity to Contributory Pension Scheme (CPS) retirees as an additional benefit as being provided for in section 4, (4) (a) of the 2014 PRA (as amended).

The members of NUPCPS appreciated the support received from the leadership of the Nigeria Union of Pensioners in the course of the struggle to enhance their welfare and welfare of CPS retirees.

They affirmed their continued affiliation and unflinching loyalty to the leadership of the NUP as their parent body and the sole umbrella body recognized by Act of parliament to unionize all Nigerian Pensioners.

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