In a heartfelt plea, Mr. Anthony Ayiwulu, President of the Coalition of Plateau Retirees Association of Nigeria (COPRAN), Plateau Command, expressed deep concerns about the current state of the PenCom policy. While the policy was initially designed with good intentions, Ayiwulu asserts that it has caused more harm than good to public servant retirees, many of whom are considered senior citizens.Ayiwulu passionately called for an urgent review of the policy, emphasizing that it is not achieving the desired outcomes. He argued that retirees, who have devoted 35 years of diligent and selfless service to the nation, are often left in financial distress. After years of service, many have nothing to show for their efforts, receiving owed gratuities late and struggling to meet their basic needs and those of their families.One example of this policy's failure, according to Ayiwulu, is how the Nigerian Army successfully sought an exemption from the PenCom scheme. The reason? The scheme created "untold hardship" for retired servicemen. This hardship is compounded by the country's high inflation rate, leaving retirees with a growing number of bills, including the cost of healthcare.Ayiwulu further emphasized that fairness should guide the nation’s interactions with its citizens. Timely payment of gratuities and pensions to public servants and retirees, he believes, is essential to helping them navigate the challenges of post-retirement life. Without these timely payments, retirees face undue suffering, unable to keep up with the rising cost of living.He also pointed out that senior citizens have not received any palliatives to ease the economic burdens currently facing the country. Many retirees were asked to submit their information through their Pension Fund Administrators (PFAs), but they have yet to see any meaningful response or relief.
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The Need for Pension Reform: A Call to Revisit PenCom Policy
The Need for Pension Reform: A Call to Revisit PenCom Policy
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