Nigerian Pensioners Urge Government to Settle Outstanding Retirement Benefits
Sylva Nwaiwu, the National Chairman of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS), has called on the federal government to clear all outstanding entitlements owed to retirees under the Contributory Pension Scheme (CPS).
In a statement issued on Wednesday, Nwaiwu revealed that the leadership of the NUPCPS had initiated a national data capturing and verification exercise for its members, starting on January 20. This is in preparation for a nationwide protest if the government fails to meet the union’s January 15 deadline for settling retirees’ outstanding dues.
The notice for the deadline was issued through the Office of the Accountant General of the Federation, urging the government to settle all pending entitlements owed to retirees.
Nwaiwu highlighted that the CPS mandates all workers to contribute a portion of their salaries for their retirement, and the scheme has resulted in over N21 trillion in investable assets. Despite this, he lamented that retirees under the CPS are left in poverty, as the government has not honored its obligations to them.
The federal government has established a committee, including the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to assess the outstanding liabilities within the CPS sector. The committee has proposed several measures to raise funds to clear the debts.
Nwaiwu has urged President Bola Tinubu and Minister Wale Edun to urgently take executive action on the committee’s recommendations, stressing that this is the only solution to alleviate the suffering of retirees under the CPS.
