News
BREAKING: Pensioners Storm Ministry of Finance, Protest Delays in Accrued Entitlements
Federal government pensioners staged a protest in Abuja, blocking access to the Federal Ministry of Finance, to demand the release of their accrued pension rights.
The demonstration, led by Comrade Sylva Nwaiwu, the National Chairman of the National Union of Contributory Pensioners, is calling for the immediate disbursement of their entitlements.
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Accrued rights refer to pension benefits earned under the old pension scheme before the introduction of the Contributory Pension Scheme in 2004. According to the Pension Act, these entitlements were meant to be transferred to Pension Fund Administrators (PFAs), allowing retirees to access their funds upon retirement.
Comrade Nwaiwu emphasized that many pensioners who retired as far back as 2003 are still waiting for the federal government to transfer their entitlements to the PFAs, which has prevented them from accessing their funds through the Pension Administration and Savings Scheme (PASS).
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Further details to follow…
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