Retirees, under the auspices of the Nigeria Union of Contributory Pensioners, have petitioned the House of Representatives to lament the delayed and non-payment of pensions to beneficiaries under the current scheme.
In the memorandum submitted to the House of Representatives’ Ad Hoc Committee to Investigate the Activities of the National Pension Commission, the NUCP condemned the current pension system as being administered by PenCom, while calling for a reversal to the old system.
The pensioners particularly blamed pension laws and PenCom’s policies, alleging that the Contributory Pension Scheme was created to enrich Pension Fund Administrators.
Two pensioners, who appeared before the committee at its investigative hearing in Abuja on Thursday, narrated their individual experiences, including the financial crises they and their colleagues were facing. Read more