PenCom engages Lagos, LASPEC on pension increments
The National Pension Commission has initiated high-level engagements with the Lagos State Government and the Lagos State Pension Commission over ongoing concerns surrounding the administration of benefits under the Contributory Pension Scheme, particularly the implementation of pension increments and approved wage awards. PenCom made this known in an official statement released on Monday,…
The National Pension Commission (PenCom) has initiated high-level discussions with the Lagos State Government and the Lagos State Pension Commission (LASPEC) to address concerns surrounding pension increments and wage awards under the Contributory Pension Scheme (CPS). This move follows public demonstrations by retirees, who are demanding the implementation of consequential adjustments, payment of wage awards, and the clearance of outstanding pension benefit arrears.
PenCom acknowledged the importance of ensuring retirees receive their legitimate entitlements while recognizing the challenges posed by delays in implementing approved adjustments. The Commission stated that it is working closely with the state government, LASPEC, pension fund administrators (PFAs), and union representatives to reach a transparent, orderly, and sustainable resolution.
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