CPS: PENSIONERS ASK FOR INTEREST ON ACCRUED PENSION

Federal Government Pensioners who migrated from the Defined Benefits Scheme (DBS) to the new Contributory Pension Scheme (CPS) in 2004 have demanded interest yield from the investment of their accrued benefits with the Central Bank of Nigeria (CBN) by the National Pension Commission (PenCom).

The pensioners who retired under the CPS are making the call under the auspices of Interim Association of Contributory Pension Scheme Pensioners.

The views of the association were made known through the president, Comrade Shittu.

He said that although the Federal Government have been paying them their pension since they were moved from the DBS to the CPS following its establishment in 2004, they still owe all categories of Contributory Pensioners accrued interest on their initial pension entitlements accrued from the old scheme as at June 2004 which were deposited in the CBN as Bonds.

He maintained that PenCom has not communicated to them whether or not it will pay them the interest yield.

Leave a Reply

Your email address will not be published. Required fields are marked *