Crisis hits Pension unions over check-off dues
On
By Johnbosco Agbakwuru – Abuja
The Federal Civil Service Pensioners, FCSP, have written to the Minister of Labour and Employment, Senator Chris Ngige to stop the Pension Transitional Arrangement Directorate, PTAD, from paying Check-up dues accruing from the payment of pension arrears to the National Union of Pensioners, NUP.
Already FCSP has concluded plans to set up a committee to carry out the registration of the union as an independent body.
Addressing journalists on Thursday in Abuja, the National Chairman of the FCSP, Comrade Omeiza Sunday said that the protracted impasse between his group and the NUP was occasioned by the “blatant refusal of the National Headquarters of the Nigeria Union of Pensioners (NUP) to give us the commensurate allocation of the 55% share of the 1% Check-off Dues accruable the Federal Civil Service Pensioners Branch (FCSPB).
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Published 30 April 2021
The National Pension Commission has ordered the Pension Funds Administrators to raise their shareholders’ funds from N1bn to N5bn.
Some operators disclosed this to our correspondent on Thursday.
According to the commission, the total number of workers with pension accounts under the Contributory Pension Scheme rose slightly to 9,265,141 as of the end of February.
The CPS which had been the fastest growing funds in the economy lost N52bn in February.
The commission disclosed that the pension assets which ended December 2020 at N12.306tn fell by N7bn to N12.299tn as of the end of January.