May 23, 2018

Retirees to earn minimum pension from 2017

Retirees to earn minimum pension from 2017

Retirees under the Contributory Pension Scheme will from early next year enjoy a minimum pension payment irrespective of the balance in their Retirement Savings Accounts.

The Chairman, Pension Fund Operators Association of Nigeria, Mr. Eguarekhide Longe, disclosed this to our correspondent in an exclusive interview.

“The minimum pension is going to take up early next year. We (operators) are supposed to pay three per cent of our management fees to set up the fund, the National Pension Commission is supposed to pay another fee and they have already given us a notice that we must ensure that we put that money in our budget in 2017 and that it will take up next year,” he said. Read more

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