FG Asked to Revert to Old Pension Scheme


Worried by the challenges encountered while assessing the new pension scheme, retirees, mostly junior staff, from the Nnamdi Azikiwe University (UNIZIK), Awka, have urged the Federal Government to revert to the old system of pension scheme which ensures substantial payment of their gratuity.

The group comprising retirees from 2007 to date made the demand in a statement signed by their chairman, Mr Patrick Okafor, and made available to newsmen in Awka, Anambra State on Tuesday.

They argued that the new pension scheme was not favourable to them adding that a large number of them had passed away due to lack of money.

?The new pension scheme allows pension managers to pay retirees half of one?s gratuity while half is kept with the managers. The only advantage the new scheme has is that retirees receive their money as at when due but in the old system, you receive substantial amount of money as gratuity.

?Some pension managers now give one-third of the gratuity to retirees and do business and enrich themselves with the remaining two-third while they give token to pensioners,? they alleged.

According to the statement, it is complete sign of ignominy to retired civil servants especially junior ones who had served in various capacities to better the country.

?By the new pension scheme, federal government failed to realise that not all retired civil servants were able to build a family house of their own.

?We never had any agreement with the government nor with the pension managers that our benefit be kept with pension managers to do business with.

?We are begging the federal government to look into our pitiable case and kindly reverse to the old system,? they added.

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