Retirees urge FG to revert to old pension scheme

The retirees said the old method ensured they received sizeable parts of their gratuities

Some retirees from the Nnamdi Azikiwe University in Awka have urged the Federal Government to revert to the old system of pension scheme which ensured a substantial payment of gratuity.

The group, comprising of mostly junior staff and retirees from 2007 to date, made the demand in a statement on Tuesday signed by their chairman, Patrick Okafor.

They said that the present pension scheme was not favourable to them.

The retirees said a greater number of their colleagues had passed away due to lack of money.

“The new pension scheme allows pension managers to pay retirees only half of his or her gratuity, while the other half is kept with the managers,” they said.


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“The only advantage the new scheme has is that retirees receive their money as at when due, while in the old system the retirees receive a substantial amount of money as gratuity.

“But now some pension managers now give only a third of the gratuity to retirees and do business to enrich themselves with the remaining two-thirds,” they alleged.

The retirees said it was completely embarrassing to them as retired civil servants who had served in various capacities to better the country.

“By the new pension scheme, the Federal Government failed to realise that not all retired civil servants were able to build a home for themselves before retirement.

“We never had any agreement with government nor with the pension managers that our benefits be kept with pension managers to do business with.

“So, we are begging the Federal Government to look into our pitiable case and kindly bring back the old pension system,” they said.



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