FG releases N13.89 billion for Payment of Accrued Rights to 2022 Retirees
By Ngozi Onyeakusi—The Federal Government has released N13.89 billion for payment of Accrued Pension Rights (APRs) of 2022 retirees of Treasury -Funded Ministries , Departments and Agencies who retired in 2022.
This is contained in a statement issued by the
National Pension Commission (PenCom), Thursday.
The Accrued Pension Rights represent an employee’s benefits saved up while in service up to June 2004, when the CPS came into effect.
According to PenCom the beneficiaries were retirees under the Contributory Pension Scheme (CPS).
The commission appreciated the efforts of President Muhammadu Buhari for his untiring support and commitment to the implementation of the CPS that continued to ensure the welfare of retirees.
It added that it was processing remittances into the various Retirement Savings Accounts (RSA’s) of the affected retirees and their Pension Fund Administrators (PFAs) and that the commission would notify them in due course.