“BREAKING: Pensioners Protest at Nigeria’s Finance Ministry Over Unpaid Entitlements”

• Protest over pension delays: Federal government pensioners have blocked access to the Ministry of Finance over delays in accessing their accrued pension entitlements.
• Pension rights backlog: Retirees, some from as far back as 2003, have not received their accrued pension rights under the old pension scheme, which are supposed to be transferred to PFAs.
• Impact on retirees: The delay prevents pensioners from accessing their funds through the Pension Administration System (PASS), causing significant financial hardship.

Federal Government Pensioners have staged a protest in Abuja, blocking access to the Federal Ministry of Finance in demand for the immediate release of their accrued pension entitlements. The demonstration, led by Comrade Sylva Nwaiwu, National Chairman of the National Union of Contributory Pensioners, highlights the delays in the payment of pension benefits owed to retirees under the old pension scheme.

The accrued pension rights refer to benefits earned by pensioners prior to the introduction of the Contributory Pension Scheme (CPS) in 2004. According to the Pension Act, these entitlements were meant to be transferred to Pension Fund Administrators (PFAs) for retirees to access upon their retirement. However, many pensioners who retired as far back as 2003 have not received their accrued rights, preventing them from accessing the funds through the Pension Administration System (PASS).

Comrade Nwaiwu expressed frustration, stating that the continued delay in the transfer of their entitlements has left many pensioners in financial distress. The protest is calling for an urgent resolution to the issue.