FG issues important message to pensioners

By Oluwapelumi Oluwayemi

The Federal Government has declared its willingness to commence the payment of pension backlogs next week.

This was made under the approved national budget, according to Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun.

This announcement was made on Tuesday as the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) staged a peaceful rally at the Federal Ministry of Finance in Abuja, demanding resolution for delayed pension payments.

Addressing the protesters, Edun assured them that the government is committed to clearing the accumulated backlog within the Contributory Pension Scheme (CPS).

“We will start next week to pay everything that we can under the current budget as approved by the National Assembly,” Edun said, noting the government’s resolve to meet pension obligations by year’s end.

Edun revealed that the Federal Government is exploring a long-term financial solution to address the backlog comprehensively.

“There has been a committee under the Office of the Head of Service, which has met with the Minister of Budget and myself. We are working on a solution that will raise funds from the capital market, ensuring the backlog is cleared once and for all,” he said, adding that the plan will be presented to President Tinubu for approval.

The rally, led by NUPCPS National Chairman Mr. Sylva Nwaiwu, highlighted the hardships pensioners have endured due to unpaid entitlements.

According to Nwaiwu, CPS pensioners have not benefited from the National Minimum Wage Act, and accrued pension rights have been withheld for over 20 months since March 2023.

“Our senior citizens are suffering, after dedicating their lives to serving this country. We deserve better,” he said.

Retired civil servant Mrs. Christiana Ubah echoed the grievances of many, describing her struggle to survive on limited or non-existent pensions.

“I retired in 2015 and can hardly feed myself. For six months, my pension hasn’t been paid,” she said. “We keep hearing about growing pension fund assets, yet we are left to suffer,” Ubah lamented, urging the government to honor its promise to pensioners.

In response, Edun expressed regret over the protest, attributing the delay to a communication gap and stressing the government’s ongoing efforts to prioritize pensioners’ welfare.

“I am not happy that you had to resort to this protest,” he said, adding that he remains open to continued engagement with NUPCPS to resolve future issues.