Privileged government officials have continued to initiate jumbo pensions for themselves to escape the challenges associated with the
The Director, Centre for Pension Rights Advocacy, Ivor Takor, says, the DBS, supervised by PTAD draws pension from the treasury at the federal level and the payment of pension has been stabilised to some extent under the outgoing administration.
He says, “Section 84 makes provision for Minimum Guarantee Pension, which should be specified by PenCom from time to time. People have started retiring since 2007 based on the Act and PenCom is yet to specify the MGP.” While accepting that there has been regularities for monthly pension payments, retirees still say other huge challenges have not been addressed.
It states, “The accrued pension rights represent an employee’s benefits for the past years of service up to June 2004, when the CPS came into effect.”
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