On Thursday, the Federal Government disbursed N13.89 billion for the payment of Accrued Pension Rights (APRs) of 2022 retirees of Ministries, Departments, and Agencies (MDAs), according to the National Pension Commission (PenCom).
The Commission highlighted that APRs represent an employee’s benefits starting from June 2004, when the Compulsory Pension Scheme (CPS) went into force. This was pointed out in a statement posted on its official Twitter account yesterday and accessed by the News Agency of Nigeria (NAN).
It further stated that the recipients were retired people covered by the Contributory Pension Scheme (CPS). The Commission praised President Muhammadu Buhari for his backing and dedication to putting the CPS, which is focused on the care of pensioners, into action.