PenCom Vows To Pay All Outstanding Pension Liabilities Soon

The National Pension Commission (PenCom) has assured all pensioners that all outstanding pension liabilities will be paid soon.

This assurance was given by Omolola Oloworaran, acting Director-General (DG), PenCom, recently at a workshop on the online enrolment application for Pension Desk Officers (PDOs) of treasury-funded ministries, departments and agencies (MDA) of the federal government.

Oloworaran disclosed that concerted efforts by critical stakeholders had reached an advanced stage, to clear all the federal government’s outstanding pension liabilities under the contributory pension scheme (CPS).

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She said efforts put in place would also provide lasting solutions that would address the problems of inadequate funding and delay in fund releases for the payment of accrued rights.

“Although the current delay in release of funds by the federal government for the payment of retirees’ accrued rights negates the cardinal objective of the CPS of payment of retirement benefits as and when due,” Oloworaran said.

“I would like to assure you that this situation will soon be resolved.”

The acting DG reiterated the commitment of the commission to continuous service improvement in the pension industry so that contributors and retirees receive the best possible experience regarding pension matters.