President Muhammadu Buhari on Wednesday intervened in the problems preventing some retirees from accessing their retirement benefits. He directed the Pensions Commission (PENCOM) to urgently look into such complaints.
The Director General of PENCOM, Dr. Chinelo Anohu-Amazu, made the disclosure while speaking with State House correspondents after briefing President Buhari on the affairs of the pension industry. She said:
“The President has also directed for immediate resolution because you also have to be mindful of the situation we live in, most of them who are not able to access their benefits, had to do with accrued rights.
The problems involved those who were federal government workers and had moved to the contributory pension systems midway into their career.
“So they have accrued right coming from their past service under the defined benefit under the federal government and what you have is because our budget is not as robust as we would wish, we have dwindling resources and every sector of the economy is affected.
“But the President has also directed that this matter be looked into and prioritized so that those who have retired receive their payment benefits as at when due”.
According to Anohu-Amazu, President Buhari also directed PENCOM to work with the National Economic Council (NEC) to ensure that all the states are in full compliance with PENCOM as soon as possible.