REVEALED: Why Civil Servants May Not Get Their Pensions
Most people who work for the Nigerian government may not be able to receive their pensions when they retire.
Those who get at all, will get just a little sum.
This is because four years after the Pension Reform Act was amended and employers mandated to raise their contributions into the Retirement Savings Accounts, RSAs of workers under the Contributory Pension Scheme, the Federal Government is yet to effect the change.
A report by Punch detailed how since the Pension Reform Act was amended in 2014, compliance with regard to remittances of pension contributions from the public sector at both the federal and state levels have been patchy at best.
Some reports show that direct employees of ministries, who are not under the parastals but being paid by the National Pension Commission with the funds released by the Central Bank of Nigeria, were the most affected.
Latest PenCom figures revealed that only 10 of 26 states that enacted their pension reform laws have commenced remittance of funds into employees' RSAs.
While only a few of them have been consistent with remittances, some states have outstanding remittances dating back to two years.
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