FCT Approves N474m for Pensioners

The Minister of State for the Federal Capital Territory FCT, Dr. Ramatu Tijjani Aliyu, has approved N474 million for the payment of pension and entitlements to 85 retirees and some deceased staff of area councils and Local Education Authorities (LEAs).

The Director of the FCT Area Council Staff Pension Board (ACSPB), Dr. Nanzing Nden, who revealed this to newsmen, disclosed that the payment is for the retirees accrued rights, saying the authorities placed high emphasis on welfare and happiness of FCT pensioners.

He said, “I want to say that there are some developments as regards FCT pension administration, especially FCT Area Council Staff Pension Board. First is the approval of the Minister of State, Dr. Ramatu Tijjani Aliyu, of the sum of N474m in favour of 85 retiring and deceased officers of the area councils and Local Education Authorities (LEAs) in respect of the payment of Accrued Rights Benefit.’’

He further said the board paid prospective pensioners in advance, adding that the last of such payment was N1.2bn before the Covid-19 lockdown. Dr. Nden also revealed that the minister approved the renewal of the board’s Group Life Assurance policy for 2020/2021 for staff of area councils and LEAs, which was due for renewal on 30 June 2020. This is in compliance with the Pension Reform Act 2014, section 4 (5) mandates every employer to maintain a Group Life Insurance Policy in favour of each employee for a minimum of three times the annual total emolument of the employee.