FG to Clear Pension Backlog Starting Next Week, Edun Says
Minister of Finance and Coordinating Minister for the Economy, Olawale Edun
The Federal Government has pledged to begin clearing the pension backlog for retirees under the Contributory Pension Scheme (CPS) starting next week. This announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a peaceful demonstration by the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) at the Federal Ministry of Finance in Abuja on Tuesday.
Edun assured retirees that the government is committed to addressing the long-standing pension arrears within the constraints of the current budget. “We will start next week to pay everything that we can under the current budget as approved by the National Assembly,” Edun stated. He acknowledged the negative impact of the backlog on pensioners and reassured them that their concerns are a government priority.
“I was not aware of the Nov. 11 deadline, otherwise, I would never have allowed a situation like this,” he added, expressing regret over the delay. “In spite of your age, and your situation in terms of cost of living, it costs money to come here. I would have avoided that as much as I could.”
The National Chairman of NUPCPS, Sylva Nwaiwu, addressed ongoing issues affecting the union, including the exclusion of pensioners from adjustments made to the National Minimum Wage. Nwaiwu further lamented that accrued pension rights have remained unpaid for over 20 months, urging the government to act quickly to alleviate the hardships faced by retirees.
Christiana Ubah, a retiree who has been waiting since 2015 for her pension payments, expressed frustration at the delay, despite reports of increasing pension fund assets. She reminded the government that the Nigerian constitution mandates salary and pension increases every five years. “The government must honour these adjustments in pension payments,” Ubah said, calling for a resolution to the long-standing issue.
The government’s commitment to clearing the backlog has raised hopes among pensioners, who have long awaited relief from the financial difficulties caused by the delay. 1999 Constitution Will Keep Nigeria in Misery, Warns Anyaoku
