Pensioners shout for failure to pay five years old-age pension | The Guardian Nigeria News
Discomfort caused by the non-payment of pension and death grants, which has been inactive since 2016 In Kano, a concerned group of pensioners has appealed to the state government to clarify their claims.
The group, under the auspices of Kano State Pensioners Unity, also raised concerns about the state government’s failure to transfer their statutory contributions and those of employees to pension fund trustees as another critical challenge for pension management in the state.
Based on a stakeholder meeting held to clarify the plight of retirees, the group claimed the trustee is currently insolvent and may find it difficult to meet billions of naira outstanding benefits.
In a communique signed by a nine-member committee chaired by Umar Farouk Ibrahim, the group said: âThe state pension fund, which was financially solvent at the start, is so exhausted due to insufficient funding and management that the body could be designated insolvent except for the few assets in their possession that unfortunately cannot meet their outstanding obligations.
âSettlement of retirement and death benefits for those who left the service or died since 2016 has been suspended, so these unpaid entitlements continue to accumulate in the billions of naira.
âThat the Kano state government has been underpaid retirees for months because of tight financial resources. This measure has further increased the financial pressure on retirees whose income, even with full pay, is insufficient to meet their diverse needs in the current economic climate. “
The Group therefore urged the Pension Trust Fund to begin periodically issuing reports on its activities, particularly financial liabilities, as required by law.
The group also wants the governing body of pensioners’ unions to set up a revolving microcredit fund, as well as an emergency and welfare fund, to support those in need and families of pensioners in need.