Buhari, pensioners and PenCom's board
The Nigeria Union of Pensioners (NUP) recently applauded the administration of President Muhammadu Buhari for paying members of the Union their pension arrears of 42 months.
The pensioners are of the pay-as-you-go variant, which is solely payable when government revenues are favourable. This implies that it is payable only where the government rate paying pensioners as a priority.
The Union said in a widely circulated press statement that making the payment of pension one of the priorities of the administration has been manifested in regular and timely payment of pensions.
The Head of Information, Nigeria Union of Pensioners, Mr Bunmi Ogunkolade, was reported by the News Agency of Nigeria (NAN) delightfully saying that in the four years of the Muhammadu Buhari-led administration, the federal pensioners have enjoyed regular payment.
“If we are to do an overview of pension activities under this regime, we have said it times without number, that we are grateful to the President. Pensioners in Nigeria are grateful to this President," he was quoted saying.
He added, "In four years of the President’s administration, we had 42 months pension arrears of 33.4 per cent; pension increase of 2010, pensioners had 42 months pension arrears, despite the economic situation, we entered recession and came out of it, the government, through PTAD, cleared it all.’’
The upbeat reaction of the pensioners can be appreciated more vividly in the context of the previous negative and painful neglect of pensioners by refusing to pay them monthly, which caused the death of many a pensioner, sometime while queuing for phantom verification, and at other times, due to starvation.
Hundreds of unpaid pensioners, those who worked in the public service, including the police and military, were milling around the federal Secretariat in Abuja, sleeping in the streets or begging for food in their unkempt life of penury. They were vainly waiting for positive news about their largely inadequate monthly stipends.
That unfortunate situation of pensioners changed when the Buhari administration took the necessary steps that led to the current era of making regular payments to federal pensioners.
This Pension Watcher can report a recent scanning the area to gather facts for this item indicate that there are no more retirees milling around the Eagle Square begging for money to buy medicine or waiting for leftover food around make shift restaurants.
During a courtesy call on him in January this year (2019) by the leaders of the Nigeria Union of Pensioners, President Muhammadu Buhari made references to the old era in which pensioners' dignity was at its lowest because of their neglect and failure to pay them regularly, or at all.
He said that his administration has ended that era of neglect which dehumanised them by making payment of pension a priority as and when due. President Buhari assured the visitors that the welfare of pensioners had remained a priority for his administration since May 2015, adding that retirees in this country deserve timely payment of their emoluments, recognition, and respect for their dedication to the country during their active years working for the nation.
‘‘In recent times pensioners were ignored, neglected and even persecuted. We have put a stop to that. As you yourselves have confirmed today, we have begun regular payment of monthly pensions and payment of backlog of arrears, "the President said.
One pension matter deserving urgent Presidential action is the appointment of Board of Directors for the National Pension Commission (PenCom).
The importance of Boards for any organisation is obvious. It is more pronounced for an organisation that is regulating a N10 trillion industry that touches the lives of millions of elderly retiree/pensioners.
Keeping PenCom under an acting management, and without a Board of Governors to give it the much-needed guidance as specified in Section 25 of the Pension Reform Act 2014, should be changed by Mr. President.