NUP Seeks Review Of Pensions, Gratuities

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The Nigerian Union of Pensioners (NUP) has sought the immediate upward review of pension and gratuities being paid its members by the federal and state governments.
The National President of the Union, Dr Abel Afoloyan, stated this in Abuja on Wednesday while speaking to newsmen.
Afoloyan said  that pension and gratuities paid pensioners have not been reviewed by government even when workers salaries were reviewed which is a clear disobedience to Section 173(3) and Section 210(3) of the 1999 Constitution (as amended ) and  Section 15 of 2014 Pension  Reform Act, (as amended) which stipulated that pension shall be reviewed after every five years or whenever workers salaries  are reviewed.
He explained that there are inadequacies inherent in the Pension Reform Act 2004 where the abolition of gratuities has now denied employers the opportunity of getting lump sum at the end of their career.
The NUP boss added that the National Pension Commission and Pension Funds Administrators (PFAs) are yet to specify how pensioners can benefit from rations on the investment accruing from their contributions with the PFAs.
He stressed that Federal and State governments have been defaulting in regular remittance of pension contributions of workers to their PFAs.
He said that the non-payment of the saving bond by the Federal Government  would derail the contributory pension scheme, urging the government to allow contributory pensioners to unionise with a common front.
Afoloyan stated that from October 2015 retirees under the  Contributory Pension Scheme could not access their retirement benefits as a result of the non-payment of the accrued right by the Federal Government through the retirement saving bond.
He assured pensioners that the Union’s Leadership is doing everything to ensure that their arrear of gratuities and benefits are paid by the Federal and State governments.