• Lagos Assembly proposes pension for political office holders

    Lagos Assembly proposes pension for political office holders

    The Lagos State House of Assembly is proposing amendments to the law on the payment of pensions to key political office holders in the state, at the expiration of their tenure, a bill which is already attracting widespread condemnation.

    The bill to amend the Public Office Holders (Payment of Pensions) 2007, entitled “a bill for a law to amend the payment of pensions and other fringe benefits to public office holders in Lagos State and for connected purposes,” if passed would […]

  • Pension act meant for those who served the state meritoriously – Edo Speaker

    Pension act meant for those who served the state meritoriously – Edo Speaker

    As the controversy over the new Pension Act for former governors in Edo State rages, Speaker of the state Assembly, Justin Okonoboh, yesterday said the Edo State Pension Bill recently amended by the House is meant for only governors and deputy governors that completed their terms.

    Speaking at a meeting in Benin City with members of state civil society groups, who were at the House to interface on the controversies generated by the Bill, Okonoboh explained that the law was an […]

  • Bini lawyers forum flay Oshomhole and deputy’s N300m pension benefits

    Bini lawyers forum flay Oshomhole and deputy’s N300m pension benefits

    A group of legal practitioners from Edo State under the aegis of Bini Lawyers Forum, has attacked the Edo State House of Assembly for approving N300million retirement homes for the immediate past governor of the state, Adams Oshiomhole, and his deputy, Dr. Pius Odubu.

    The House had in an amendment it effected on a bill for a law relating to Pension Rights of the Governor and Deputy Governor, approved the provision of residential buildings worth N200m and N100m for former governors […]

  • SERAP asks Obaseki to immediate withdraw N300m pension for Oshiomhole and deputy

    SERAP asks Obaseki to immediate withdraw N300m pension for Oshiomhole and deputy

    Socio-Economic Rights and Accountability Project, SERAP, has called on newly installed Edo State governor, Godwin Obaseki, to immediately withdraw the bill of N300 million mansion retirement benefits for immediate past governor of Edo State, Adams Oshiomhole, and his former deputy, Dr. Pius Odubu.

    SERAP said Obaseki should rather use the funds to clear the backlog of pension arrears spanning between seven and 45 months.

    The call came at the hills of reports of amendment of Law for Pension Rights of the Governor […]

  • Governor Obiano assures on prompt payment of salaries, pension

    Governor Obiano assures on prompt payment of salaries, pension

    Governor Willie Obiano of Anambra State has assured that his administration will continue to be prompt in payment of salaries of civil servants, teachers and entitlement of pensioners in the state.

    Speaking in Port Harcourt,, capital of Rivers State at an event to mark the 25 anniversary of Anambra State, the governor said he was in Port Harcourt to acquaint Anambrarians in the state of the success of his administration, adding that he would also get their suggestions on how to […]

  • FG yet to remit N63.34b pension fund – PENCOM

    FG yet to remit N63.34b pension fund – PENCOM

    According to reports, the Federal Government is still having outstanding accrued rights due its employees that retired between 2015 and October 2016 amounting to N63.34 billion.

    Director General of National Pension Commission (PENCOM), Chinelo Anohu-Amazu who disclosed this at a function organised by the National Union of Pensioners (NUP) in Abuja also said the total registered participants in the Contributory Pensions Scheme (CPS) have increased to 7, 240,196 as at September 2016.

    The DG further said that a total of 174, 844 […]

  • 333 Lagos retirees get N1.5bn pension entitlement

    333 Lagos retirees get N1.5bn pension entitlement

    Lagos State Government has paid N1.5 billion pension entitlement for the month of October, 2016, to 333 retirees in the state.

    The beneficiaries are retirees from the Mainstream Civil Service, Local Governments, and State Universal Basic Education Board (SUBEB), Teachers Establishment and Pensions Office (TEPO) and other parastatals of state government.

    The Director-General, Lagos State Pension Commission (LASPEC), Mrs. Folashade Onanuga, while addressing the beneficiaries in Alausa, Ikeja, Lagos, said since monthly payment of accrued pension rights started in August, 2015, the […]

  • FG pays 81 months pension arrears to Police, Immigration, others

    FG pays 81 months pension arrears to Police, Immigration, others

    It was gathered that the Federal Government has paid 81 months pension arrears to Police, Customs, Immigration, Prisons and civil service pensioners.

    The government paid arrears which were incurred from 33 per cent pension increment, but left 87 months outstanding.

    The 33 per cent pension payment came as a fallout of the upward review of the minimum wage to N18, 000 in 2010.

    The Senate Committee on Establishment and Public Service, chaired by Senator Emmanuel Paulker, who visited the Pension Transitional Arrangement Directorate […]

  • Obasanjo wants N5.8trn pension funds spent on infrastructure

    Obasanjo wants N5.8trn pension funds spent on infrastructure

    Former President Olusegun Obasanjo has challenged pension managers to invest a portion of an estimated N5.8 trillion pension fund in housing and key infrastructures in order to speed up development in key sectors of the economy.

    Speaking yesterday in Abuja at the third edition of World Pension Summit (Africa Special), the former president made reference to Singapore as a classical example of countries that maximally utilised pension asset to solve housing challenge confronting their citizens.

    The theme of this year’s summit is […]

  • African countries must incorporate informal sector in pension schemes, says Obasanjo

    African countries must incorporate informal sector in pension schemes, says Obasanjo

    Former Nigerian President, Chief Olusegun Obasanjo, has called for inclusion of the informal sector into the pension schemes across African countries.

    The ex-president, while speaking at the ongoing World Pension Summit (WPS) Africa Special in Abuja, yesterday, said poor coverage and non-inclusion of the private sector, the self-employed and informal segment which is increasingly becoming an important pillar of African economies, are also issues which African countries are grappling with.

    “Establishment of a viable pension structure for the informal sector is essential. […]

  • Buhari to address pension liabilities

    Buhari to address pension liabilities

    President Muhammadu Buhari yesterday assured that his administration will ensure that all inherited outstanding pension liabilities of the Federal Government are addressed despite the scarce resources available to it.

    Buhari, who spoke while declaring open the two-day World Pension Summit holding at the Transcorp Hilton Hotel, Abuja, said the National Pension Commission (PenCom) has been asked to step up its enforcement drive to ensure full compliance by the public and private sector institutions in line with the enabling law.

    He said the […]