es money for such purposes is acting independently and without the Bureau’s instruction.
Mr. Lawson Efenudu, Secretary to the Bureau, reiterated the Bureau’s dedication to ensuring timely payment of benefits for both new and existing pension scheme participants. He explained the complexities of managing the Contributory Pension scheme, which legally requires employers to contribute 16% of the total wage bill, alongside existing pension liabilities for older schemes.
Efenudu also highlighted that the current government has significantly reduced pension liabilities, noting, “The pension liability was very huge before this government came in, but Senator Ifeanyi Okowa depleted it to 80 to 90 percent.” He pointed out the challenges of balancing payments for retirees who left the service with smaller pensions and those under the new minimum wage structure.
The Chairman of the Asaba Correspondents Chapel, Ifeanyi Olannye, acknowledged the struggles faced by retirees in accessing their benefits, noting that many have died before receiving their dues due to bureaucratic delays. He commended Governor Sheriff Oborevwori for his efforts in addressing these challenges, highlighting improvements in the payment process.
Retirees have reported a significant reduction in waiting times for benefits, with some now receiving payments within a much shorter timeframe than the five or more years previously experienced. One retiree, speaking anonymously, noted that both former Governor Ifeanyi Okowa and the current administration under Sheriff Oborevwori have made substantial contributions to improve the situation, leading to a decrease in the backlog of payments.