President Buhari Has stepped into the Retirement Benefit Crisis

President Muhammadu Buhari has stepped into the problems facing some retirees which hinder them from accessing their retirement benefits.

The president on Wednesday directed the Pensions Commission (PENCOM) to urgently look into such complaints.

The Director General of PENCOM, Dr. Chinelo Anohu-Amazu, divulged this to State House correspondents after briefing the President on the affairs of the pension Industry.

According to her, President Buhari also directed PENCOM to work with the National Economic Council (NEC) to ensure that all the states are in full compliance with PENCOM as soon as possible.

She said: “The President has also directed for immediate resolution because you also have to be mindful of the situation we live in, most of them who are not able to access their benefits, had to do with accrued rights. The problems involved those who were federal government workers and had moved to the contributory pension systems midway into their career.

“So they have accrued right coming from their past service under the defined benefit under the federal government and what you have is because our budget is not as robust as we would wish, we have dwindling resources and every sector of the economy is affected.

“But the President has also directed that this matter be looked into and prioritized so that those who have retired receive their payment benefits as at when due.”