Over 2,000 Retired Nigerian Workers Were Cut Off from Monthly Pension
Some Nigerian workers will have to live by what they have saved as their pension account failed to meet the regulatory standard
The number of workers according to the National Pension Commission is over 2,000 from both the public and private
There are currently over 9.67 million pension accounts in the country with a pension fund value at N34.11 trillion
More than 2,084 retirees who can no longer receive monthly pension payments and who left the Contributory Pension Scheme in the first quarter of 2022 were announced by the National Pension Commission.
The National Pension Commission disclosed this in its first quarterly report on ‘Enbloc Payment of Retirement Benefits.
It noted that the affected workers retired have less than N550,000 in their Retirement Savings Accounts with their respective Pension Fund Administrators.
They had, therefore, been refunded all their contributions to the scheme, the Punch reports.
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