Business
BPE Implements Pension Act Pays Benefits To Retired Employees
The Bureau of Public En
terprises (BPE) has declared that it has duly followed and implemented the pension Act in payment of its employee retirement benefit.
According to a statement issued on Monday in Abuja by its Head, Public Communications, Mr Alex Okoh, the BPE has implemented the provision of section 4(1) of the Pension Reform Act 2014 which stressed the obligations of the employer to make a contribution of a minimum of 10 per cent of the employees monthly emoluments in addition to a minimum of eight per cent contribution by the employees and remit the combined sums to the employees Retirement saving Account (RSA).
Okoh said that employees of BPE upon retirement and attainment of the age of 50 years, in accordance with the provision of section 7(1)(a) the employee will be entitled to a withdrawal of a lump sum payment.
He said the bureau ensured that a monthly or quarterly withdrawals calculated on the basis of expected life span was done by employees.
The BPE spokesman added that the bureau has no obligation to a staff retiring once the BPE makes the statutory contribution on behalf of such staff to the RSA of the staff.
Okoh stressed that the bureau paid all retirement benefits of its staff through PENCOM in line with the Pension Act of 2014.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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