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  • Business - Companies
  • Updated: June 20, 2022

FG’s Expenditure On Pension, Gratuity Falls By N3.4 Billion

According to the figures obtained from the Central Bank of Nigeria, the Federal Government’s expenditure on pensions and gratuity fell slightly by N3.48 billion in 2021.

This was revealed by the CBN in its data on ‘Federal Government recurrent expenditure’ that the amount spent fell from N359.6 bilion in 2020 to N356.12 billion in the 2021 financial year.

The federal retirees have continued to complain of payment challenges, despite yearly allocations.

Pension Transitional Arrangement Directorate in charge of the Defined Benefits Scheme under the Federal Government, had earlier said it inherited pension liabilities totalling N129.48 billion.

It was revealed that PTAD inherited an estimated amount of N32.77 billion, N28.96 billion and N67.75 billion owed pensioners of the Treasury Funded Parastatal, Ex-PHCN and defunct agencies respectively, during a capacity workshop where a presentation titled ‘Parastatals Pension Department’ was delivered.

The directorate, however, mentioned that it had cleared almost all the pension liabilities and was ensuring that all outstanding arrears were taken care of.

Some retirees under the Federal Civil Service Pensions, Lagos State branch, recently protested against the non-payment of pensions among other challenges.

In a protest letter jointly signed by the Chairman, FCSP, Otunba Lawal, and State Secretary, Abiodun Michael, the retirees said, “Since September 2017 verification exercise, countless number of pensioners are yet to be on PTAD payroll till present.”

They complained that their monthly pensioners were not paid comfortably.

Reacting, PTAD, said verified and qualified pensioners were on its payroll and that any person in doubt should come with their documents to confirm otherwise.

Dr Chioma Ejikeme, the Executive Secretary of PTAD, held a meeting with the executive members of the Nigeria Union of Pensioners and the Federal Civil Service Pensioners Branch.

The directorate said in a statement, “PTAD boss informed the union executives that following the expanded computation project embarked on by the directorate in 2020, and going through the career documents submitted by pensioners during verification, it was discovered that 14,836 pensioners in the Civil Service Pension Department were being overpaid.”

“At the end of the meeting, both parties agreed that the affected pensioners will be contacted and informed of the directorate’s plan to properly place them on the right monthly pension from the month of July 2022, while the modalities to recover the overpayment will be worked out in due course.”

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Felicia Abisola  Olamiji
Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

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