Art and Culture

Ekiti Allocates N100m Monthly to Defray N12bn Pension Debt

todayAugust 7, 2022 1

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Victor Ogunje in Ado Ekiti

Ekiti State Governor, Dr. Kayode Fayemi yesterday revealed that the state government had earmarked N100 million monthly as a first-line charge to defray N12 billion pension debt under the Contributory Pension Scheme (CPS).

Fayemi clarified that the State Public Service had fully keyed into the Contributory Pension Scheme in a bid to alleviate the suffering of the retired public servants in the state and as a poverty alleviation strategy among retirees.

He made these remarks in Ado Ekiti, the Ekiti State capital yesterday when the State Pension Commission (PENCOM) commenced the payment of retirement benefits to the 2021-2022 beneficiaries of the CPS.

Speaking at the presentation of the payment document to the beneficiaries, Fayemi said the move “is part of the activities of our administration to complement the monthly release of N100 million apparently to defray the N12 billion debt owed the pensioners under CPS.”

Fayemi, represented by the Deputy Governor, Chief Bisi Egbeyemi, added that his administration “is considering various options to liquidate the huge debt before the expiration of his tenure.”

He commended the PENCOM for commencing the payment of the retirement benefits of the 2021-2022 beneficiaries while acknowledging the contribution of the commission to the success of his administration.

He added that the move had contributed to the development of the state, describing the payment as the beginning of a new life for the public servants in the state, especially the introduction of the CPS.

He reiterated the readiness of the state government “to continue to alleviate the sufferings of the senior citizens by making regular payment of their benefits a top priority.”

Fayemi stressed the need for the employers of labour that are yet to fully participate in the scheme to brace up and key into the system.

He said: “I regret that some of the retirees had died while waiting for their entitlements in the past years. This could be attributed to poor governance by the immediate past administration.”

Also at the presentation of the payment documents, the Permanent Secretary, Ekiti State Pension Commission, Mr Folabi Adebiyi, said the commission had made series of landmark achievements under the present administration.

He mentioned that the Commission had paid Accident Insurance Claims to contributors, who had accident in the course of discharging the official assignments.

Other achievements recorded by the Commission mentioned by him are creation of database for all pensioners in the State and Local Government as well as Ministry, Department and Agencies.

He paid a glowing tribute to the state governor over what he called the unflinching supports the commission had enjoyed from his administration, a development, which he said, had made the event a reality.

On his part, Chairman, Nigerian Union of Pensioners (NUP), Ekiti State, Elder Joel Akinola, commended the pension commission over the commencement of the payment of the retirement benefits.

Akinola equally reiterated the readiness of the retiree “to continue in support the Scheme and ensure that the purpose it was founded is achieved.”

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todayAugust 7, 2022

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