The Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) has called on the federal government to settle all unpaid retirement benefits owed to retirees under the Contributory Pension Scheme (CPS).
Sylva Nwaiwu, the national chairman of NUPCPS, made this demand in a statement issued on Wednesday, January 15, 2025.
He said the leadership of the union has directed a nationwide data capturing and verification exercise for members, set to begin on January 20, in preparation for a potential national protest.
The union has given the government a deadline to clear all outstanding liabilities by January 15, a notice that was communicated to the Office of the Accountant General of the Federation.
Under the CPS, workers are required to contribute a portion of their salaries to a pension fund, meant to provide for their retirement.
The system has accumulated over N21 trillion in investable assets.
However, despite these funds, retirees have been left without their due entitlements, leading to widespread dissatisfaction among pensioners.
A committee formed by the federal government, which includes the Minister of Finance, Wale Edun, is working to address these liabilities.
The committee has suggested methods to raise funds to settle the arrears, but Nwaiwu has urged President Tinubu and the Minister to urgently act on the recommendations to provide relief for retirees, NAN reports.
The NUPCPS insisted that resolving these issues is crucial to alleviating the financial hardship faced by retirees who have contributed to the country’s pension system.
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