,,,,,Appeal to IBTC for Urgent Intervention.
By Dada Ahmed in Lokoja.
Pensioners under the Contributory Pension Scheme (CPS) in Lokoja, Kogi State, have appealed to the National Pension Commission (PenCom) to expedite the payment of the ₦32,000 wage award, which forms part of the ₦758 billion bond approved by the Federal Government to clear outstanding retirement liabilities.
The pensioners made the appeal at the office of Stannic IBTC, one of the pension fund administrators in Lokoja,Kogi State.
The retirees, who are clients of Stanbic IBTC, one of the Pension Fund Administrators (PFAs), also urged the National Pension Commission (PenCom) to grant approval that would enable the PFA to commence payment to its clients.
One of the pensioners, Malam Sani Idris, a Stanbic IBTC client, expressed concern over the delay in a telephone interview with our correspondent from Kaduna .
He lamented what he described as the unexplained delay by IBTC in paying him and other affected retirees.
“Stanbic IBTC was among the first PFAs to begin payment of the percentage increment when the Federal Government gave the go-ahead for the disbursement of the ₦758 billion bond to pensioners under the Contributory Pension Scheme. One wonders why there is a sudden stoppage when it comes to the payment of the ₦32,000 wage award,” he said.
Idris further questioned why IBTC clients were yet to receive their entitlements when retirees, managed by other PFAs, had already been paid the ₦32,000 wage award.
According to him, the need for timely payment has become more urgent in view of the biting effects of inflation and its multiplier impact on the social and economic lives of the affected pensioners.
Reacting to the development, a desk officer of Stanbic IBTC,said the delay was not the fault of the organization.
The officer, who spoke on condition of anonymity, advised the pensioners to exercise patience, assuring them that Stanbic IBTC would notify its clients immediately the money is releases the fund for onward payment to the pensioners concerned.
