FG Releases N16.6bn Accrued Pension for 2021 MDA Retirees

The National Pension Commission (PenCom) said the federal government has approved the release of N16.67 billion for the payment of accrued pension rights to 2021 retired workers.

The retiring workers will be from treasury-funded ministries, departments and agencies (MDAs).

PenCom said this in a recent statement seen by Prime Business Africa.

The statement added that the federal government had earlier settled all arrears of accrued pension rights payments to the verified and enrolled retirees up to December 2020.

Recall, PenCom had said President Buhari approved the payment of unpaid pension liabilities to retirees of federal government treasury-funded ministries, departments, and agencies (MDAs).

The commission had said that the federal government is willing to comply with the reviewed rate of pension contributions.

The statement read: “The National Pension Commission (PenCom) is pleased to announce the release of N16.67 billion by the Federal Government for the payment of Accrued Pension Rights to 2021 retirees of Treasury-funded Ministries, Departments and Agencies (MDAs).

“The Federal Government had earlier settled all arrears of accrued pension rights payments to the verified and enrolled retirees up to December 2020.”