Pension

Pension is a retirement fund for an employee that is funded by the employer, the employee, or both, with the employer typically covering the majority of contributions (Bankrate). In simpler words, it is the money you save aside for your…

Former Governor of Lagos State, Asiwaju Bola Tinubu has backed incumbent  Governor Babajide Sanwo-Olu's bid to stop pension payment to ex-governors and ex-deputy governors in the state. Tinubu made his position known in a Twitter thread…

The Governor of Lagos State, Babajide Sanwo-Olu has moved to stop pension payments to former governors and deputy governors in the state. Sanwo-Olu made the disclosure while submitting the 2021 Budget estimates to the State House of…

Gov.  Hope Uzodinma of Imo, has assented to a bill repealing the law that created pension allowances and gratuities for former governors, deputy governors, assembly speakers and deputy speakers. Signing the bill into law in Owerri on…

The Pension Transitional Directorate (PTAD) on Tuesday said Federal Government spent over N5 billion on payment of monthly pension to about 300,000 retirees of 270 parastatals and government privatised agencies. The directorate also…

The Nigerian Labour Congress (NLC) has advised pensioners to use their votes to punish governors that have refused to pay pensions at the forthcoming general elections. The President of NLC, Ayuba Wabba gave the advice at the 12th…

Retirees under the aegis of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) have written to President Muhammadu Buhari, applauding his administration as the best in 14 years of the pension scheme. In a letter…

The Lagos State Government said it released N688 million to 178 retirees in October to offset part of their accrued pension rights. The Director-General, Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga, said N40. 93…

The Coordinator of the Lagos Centre of the defunct Nigeria Airways Pensioners’ verification, said on Thursday that the verification was almost completed. Mr John Waitono, who made the disclosure in an interview with the News Agency of…

Some former workers of the defunct Nigeria Airways have expressed dissatisfaction with the ongoing verification exercise ahead of payment of their severance packages. They told the News Agency of Nigeria (NAN) on Wednesday in Lagos that…

The Lagos State Government has released N795 million in September to settle part of accrued pension rights of its retirees. The Lagos State Pension Commission (LASPEC) said on Sunday in Lagos that the gesture was in fulfilment of monthly…

Smarting from the pains and embarrassment of non-payment of their retirement benefits a year after, Federal Government retirees have accused Pension Fund Administrators (PFAs) of sabotaging the 2004 Contributory Pension Scheme. They also…

Police in India will file a case of forgery and cheating the government against five men and a woman who allegedly preserved the body of their 70-year-old mother with chemicals for months so they could draw the family pension using her…

A former Ogun State Governor, Chief Olusegun Osoba has distanced himself from alleged outrageous amounts received by some state governors as pension. He said that his pension is in compliance with what is set by the Revenue Mobilisation…