Ekiti State Government has assured Civil Servants that it would implement all the guidelines in the 2004 Pension Return Acts and the State Pension Law of 2011 (as amended) towards ensuring a fraud free scheme.
Speaking at a form in Ado Ekiti, the Chairman of the State Pension Commission, Mr. Oluwole Ojo stressed that the scheme would survive the test of time.
The Chairman who was represented by the Commissioner 1 in the Commission, Mr. Olukayode Oluyemo explained that the Retirement Savings Account (RSA) of workers under the new scheme is operated like bank account adding that they would get Information Updates on their account balances. Mr. Ojo said that the scheme would enable each worker know their entitlements before retirement.
Reiterating the commitment of the Fayemi led administration to the regular payment of gratuities and pension allowances of its senior citizens, he assured pensioners who are yet to be paid their entitlements to be patient with government as plans are under way to settle all pension arrears.
Mr Ojo further explained that Retirement Benefits Redemption Bond Account would be opened with the Central Bank of Nigeria (CBN) saying that 5% of emoluments would be paid monthly to settle the accumulated Pension Rights of workers who had been in service before the commencement of the Contributory Pension Scheme.
He therefore called on public servants to embrace the scheme noting that there was no better option.
Last modified: February 27, 2013