Business
RETIREES under the Contributory Pension Scheme have cause to smile soon. The federal government has released N14.92 billion for the payment of accrued rights for retirees under the Contributory Pension Scheme, CPS.
This money will cover four months’ arrears.
The Accrued Pension Rights represents an employee’s benefits for the past years of service up to June 2004, when the Pension Reform Act, PRA, that birthed the CPS, came into effect.
The Pension Commission expressed appreciation to the government for its effort at ensuring that the accrued rights arrears are cleared and thanked the affected retirees of the Treasury-Funded agencies for their patience.
– Aug. 24, 2020 @ 15:35 GMT |
Tags: FG releases N14.92b to pay CPS retirees
