Pensioners Protest at Finance Ministry Over Unpaid Pension Benefits

Pensioners Protest at Finance Ministry Over Unpaid Pension Benefits

By Fly Cable News

Federal government pensioners have stormed the Ministry of Finance in protest of unpaid accrued pension rights.

Led by Comrade Sylva Nwaiwu, National Chairman of the National Union of Contributory Pensioners, the retirees are demanding the immediate release of their pension entitlements under the old pension scheme, which predates the introduction of the Contributory Pension Scheme in 2004.

Accrued rights refer to pension benefits earned under the previous system, which the government committed to transferring to Pension Fund Administrators (PFAs) after retirement.

However, Nwaiwu asserted that many retirees, particularly those who retired since 2003, have yet to receive their accrued benefits in their PFA accounts, preventing them from accessing funds through the Pension Administration System (PASS).

Under the Pension Act, all entitlements prior to 2004 should have been paid to the PFAs of eligible retirees.

The protestors are calling on the government to fulfill this obligation without further delay.