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    MarketForces Africa » MarketForces News » Pensioners Write Tinubu, others, say PenCom Scheme Worsening Retirees’ Woes

    Pensioners Write Tinubu, others, say PenCom Scheme Worsening Retirees’ Woes

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiAugust 28, 2024 News No Comments2 Mins Read
    Pensioners Write Tinubu, others, say PenCom Scheme Worsening Retirees’ Woes
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    Pensioners Write Tinubu, others, say PenCom Scheme Worsening Retirees’ Woes

    The Correctional Officers Pencom Retirees Association of Nigeria (COPRAN),  says the contributory Pension Commission (PenCom) scheme is worsening the challenges of retirees.

    COPRAN, in a petition to President Bola Tinubu, Senate President, Speaker House of Representatives, Minister of Labour, and Human Rights Commission, among others, said that pensioners were starved of their funds by PenCom after retirement.

    The President of COPRAN, Plateau Command, Mr Anthony Ayiwulu, said that the PENCOM policy, although made in good faith, has caused more harm than good to the public servant retirees, who were also called senior citizens.

    Ayiwulu said that there was an urgent need for the policy to be changed or reviewed for the common good and betterment of those concerned and for an effective result.

    The association’s president stated that after 35 years of diligent, selfless service to one’s nation, all one has to show for it, is owed gratuities and the inability to provide one’s basic needs and even the needs of one’s family.

    “The Nigerian Army sought out of the PenCom scheme and their request was granted, because the scheme only created untold hardship in the lives of retired servicemen.

    “In the current situation of the country with rate of inflation, retirees have a lot of bills to pick including taking care of their health.

    “There should exist a spirit of fairness in the nation’s dealings with its citizens and in the payment of civil, public servants and retirees promptly, would help them  cope with retirement,” he said.

    He said that the senior citizens were yet to receive any palliative to mitigate the hard economic situation in the country.

    According to him, senior citizens under PenCom were asked to submit their information through their various Pension Fund Administrators (PFAs), but up till date there has been no positive response. #Pensioners Write Tinubu, others, say PenCom Scheme Worsening Retirees’ Woes

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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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