Related News<\/header>\n<\/p><\/div>\nShe, however, acknowledged that the commission\u2019s work could strengthen the President\u2019s political standing, saying the administration had supported its activities.\n<\/p>\n
\u201cIf my work makes the president look good, then it means I\u2019m doing what he has hired me to do,\u201d she said.\n<\/p>\n
On the minimum pension guarantee, Oloworaran said all 173,209 eligible retirees earning below N52,500 would have their monthly pensions raised to that amount, regardless of their sector.<\/p>\n
\u201cEvery eligible retiree who earns below N52,500 will be uplifted to N52,500. There is no discrimination, if you are within the Contributory Pension Scheme, you will get it,\u201d she said.\n<\/p>\n
She said states were responsible for funding their legacy pension obligations, which she put at N1.07tn, attributing their improved capacity to do so to increased allocations from the Federation Account following the Federal Government\u2019s removal of the petrol subsidy.\n<\/p>\n
\u201cThe Federal Government is not funding it. The states that want to fund it themselves, the reason they now have money to fund it is because of the reforms of Mr President, which has now released more money to the states,\u201d she said.\n<\/p>\n
Responding to reports that some state pensioners receive as little as N5,000 monthly, Oloworaran described the amount as unacceptable and said PenCom was working with state governments to improve their pension arrangements.\n<\/p>\n
\u201cFrankly, that\u2019s a big shame. Receiving N5,000 is unacceptable,\u201d she said.\n<\/p>\n
She said the commission was engaging states on joining the Contributory Pension Scheme, contributing to the Pension Protection Fund and reviewing retirement benefits to reflect inflation.\n<\/p>\n
Oloworaran explained that states must contribute to the Pension Protection Fund before their retirees can qualify for the minimum pension guarantee. She said PenCom was developing the modalities for bringing more states into the arrangement.<\/p>\n
On the PenCare healthcare initiative, she said distribution of cards had begun before Tuesday\u2019s formal launch, with between 25,000 and 30,000 cards issued to low-income retirees during pilot testing.\n <\/p>\n
Source: <\/p>\n
Punch Newspapers – Latest News<\/div>\n","protected":false},"excerpt":{"rendered":"
The National Pension Commission has dismissed suggestions that the unveiling of its minimum pension guarantee and free healthcare initiatives for retirees was timed to boost President Bola Tinubu\u2019s re-election prospects,… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-14570","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/14570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=14570"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/14570\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=14570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=14570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=14570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}