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FCT councils pension board disburses N8bn to 1,217 retirees in 6 years – Director

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  The FCT Area Councils Staff Pension Board has paid out N8 billion to 1 217 retirees from 2016 to date The director and chief executive of the board Dr Zing Nden told a press conference on Wednesday in Abuja that 754 million naira of the money was paid to 194 retirees in 2022 The director called on those who retired between 2005 and 2015 to come forward to claim their benefits We still have 132 people who retired between 2005 and 2015 but have not applied for their pensions We don t have his full records We have your files but we do not have your Pension Administrator Certificates that allow us to process your payments he said He added that over the past five or six years the board paid out N1 8 billion as monthly pensions to more than a million retirees under the old pension plan We also maintained a good life insurance policy and paid out 896 million naira as death insurance benefits to the dependents of those who died during the period under review he said Nden added that the board is currently working to pay retirement benefits before the retirement date We are still behind For example we have just received the minister s approval of N170 million to pay those who retired in October Our plan was to have paid October retirees in August he said Nden added that the board was determined to complement the effective workflow system of the Pension Management System We have been able to train pension desk officials on a quarterly basis to ensure they are aware of developments at the National Pension Commission he said He commended FCT Minister Malam Muhammad Bello and FCT Permanent Secretary Mr Olusade Adesola for their support We have our funding essentially from the Federal Government the FCT Administration and the Area Councils which are our main stakeholders said Nden edited Source Credit NAN
FCT councils pension board disburses N8bn to 1,217 retirees in 6 years – Director

Area Councils Staff Pension Board

The FCT Area Councils Staff Pension Board has paid out N8 billion to 1,217 retirees from 2016 to date.

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Zing Nden

The director and chief executive of the board, Dr. Zing Nden, told a press conference on Wednesday in Abuja that 754 million naira of the money was paid to 194 retirees in 2022.

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The director called on those who retired between 2005 and 2015 to come forward to claim their benefits.

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“We still have 132 people who retired between 2005 and 2015, but have not applied for their pensions.

Pension Administrator Certificates

“We don’t have his full records. We have your files, but we do not have your Pension Administrator Certificates that allow us to process your payments,” he said.

He added that over the past five or six years, the board paid out N1.8 billion as monthly pensions to more than a million retirees under the old pension plan.

“We also maintained a good life insurance policy and paid out 896 million naira as death insurance benefits to the dependents of those who died during the period under review,” he said.

Nden added that the board is currently working to pay retirement benefits before the retirement date.

“We are still behind. For example, we have just received the minister’s approval of N170 million to pay those who retired in October.

“Our plan was to have paid October retirees in August,” he said.

Pension Management System

Nden added that the board was determined to complement the effective workflow system of the Pension Management System.

National Pension Commission

“We have been able to train pension desk officials on a quarterly basis to ensure they are aware of developments at the National Pension Commission,” he said.

FCT Minister Malam Muhammad Bello and FCT Permanent Secretary Mr

He commended FCT Minister Malam Muhammad Bello and FCT Permanent Secretary Mr. Olusade Adesola for their support.

Federal Government

“We have our funding essentially from the Federal Government, the FCT Administration and the Area Councils, which are our main stakeholders,” said Nden.

edited

Source Credit

Source Credit: NAN

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