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HomeMetroFCT Councils Pension Board Disburses N8bn to 1,217 Retirees in 6 years...

FCT Councils Pension Board Disburses N8bn to 1,217 Retirees in 6 years – Director

Dr Nanzing Nden,Director and Chief Executive Officer, FCT Area Councils Staff Pensions Board

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

Director and Chief Executive Officer of the board, Dr Nanzing Nden, told a news conference on Wednesday in Abuja that N754 million of the money was paid to 194 retirees in 2022.

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

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

“We do not have their complete records. We have their files, but we don’t have their Pension Administrators Certificates to enable us to process their payments,’’ he said.

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

“We have also maintained a good life insurance policy and paid N896 million as death insurance benefits to dependants of those who died during the period under review,’’ he said.

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

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

“Our plan was to have paid October retirees by July or August,’’ he said.

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

“We have been able to train Pension Desk Officers quarterly to ensure that they are abreast of developments at the National Pension Commission,’’ he said.

He commended the FCT minister, Malam Muhammad Bello and the 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 who are our major stakeholders,’’ Nden said. (NAN)

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