The assurance was given in Owerri during a two-day sensitisation workshop organised by PenCom in collaboration with the National Salaries, Incomes and Wages Commission (NSIWC).
Speaking through Mr. Samuel Uwandu, National Commissioner, Inspectorate Department of PenCom, Director-General Omolola Oloworaran said the bond will soon be converted into cash to settle all retirees’ entitlements.
“Thanks to President Bola Tinubu, who has given PenCom a bond of ₦758 billion. We are working towards cashing it, and we hope to do so before the end of the year. All gratuities will be paid in full by December, and every arrear will be settled,” she stated.
Oloworaran noted that the measure reflects President Tinubu’s commitment to improving the welfare of retirees and ensuring that workers receive their due benefits after years of service. She also revealed that discussions are ongoing with the Federal Government to increase retirees’ benefits from 75 percent to 100 percent of their final emoluments at retirement.
“The goal is that whatever a pensioner earned as salary upon retirement would be fully received, or at least 75 percent initially. We have contacted the President, and we believe the adjustment can be effected through the National Assembly,” she added.
National Secretary of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS), Bisan Olufemi, commended the Federal Government and NSIWC for clearing accumulated pension arrears and praised PenCom for promising to ensure retirees receive benefits immediately upon retirement.
Over 100 retirees from the South-East geopolitical zone attended the workshop, where participants such as Mr. Chris Duru urged that the sensitisation programme be held annually to inform more retirees about updates and processes.
