Plans have reached an advance stage by the Niger state government to resume the contributory pension scheme which has been suspended for about seven years.
Secretary to the Niger state Government, Ahmed Ibrahim Matane disclosed this while addressing Newsmen in Minna.
Ahmed Ibrahim Matane explained that a meeting to that effect has been on between representatives of Niger state government critical stakeholders and organised labour to sought out some grey areas and ensure its smooth take off.
He said the contributory pension scheme was suspended following the withdrawal of organised labour after alleging that the fund was previously mismanaged but after some assurances from Niger state government to safeguard such funds and make it more responsive and result oriented it will resume soon.
According to him Niger state government had reviewed upward its pension contribution from 7.5% to 10.5% while Civil Servants are expected to contribute 7.5% for keep with state Pension Board.
Ahmed Ibrahim Matane further explained that even though they have some pending issues ranging from unpaid gratuities and pension arrears they still have some money contributed by Niger state government with Pension Board for necessary action.
On reforms brought to the Pension Board, the Secretary to the Niger state Government said they have a law establishing local government and state pension board with required personnel and structure for optimal performance.
Ahmed Ibrahim Matane, who assured of the state government readiness to reduce the sufferings of its retirees through prompt payment of their entitlements despite the limited resources at its dismissal, however added that Niger state is up to date in the payment of monthly pension.
Subscribe to PensionNigeria Daily Newsletter and get Today’s Top Pension News delivered straight into your email box every Evening. Click here to Subscribe
Support PensionNigeria financially here, empower us to do more independent analysis of the Pension Industry in Nigeria
Pension is Your Right,
An Insurance for Old Age
Follow PensionNigeria on Social Media LinkedIn Twitter Instagram Facebook YouTube