FG to Begin Pension Backlog Payments Next Week, Minister of Finance Assures Retirees

Mr. Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, announced that the Federal Government will soon begin paying the backlog of pensions. This assurance was given on Tuesday in Abuja at the Ministry of Finance, during a peaceful protest organized by the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS).

“We will start next week to pay everything that we can under the current budget as approved by the National Assembly,” Edun stated. “What has happened now is that there is a backlog in terms of contributions, and there is a solution. A committee under the Office of the Head of Service has met with the Minister of Budget and me, and we have a plan to address the backlog under the Contributory Pension Scheme (CPS). We are committed to paying it this year, beginning next week.”

Edun underscored the government’s commitment to ensuring the welfare of retirees, stressing that the payment plan is a priority.

During the protest, National Chairman of NUPCPS, Mr. Sylva Nwaiwu, highlighted the challenges faced by retirees, stating that CPS members have not benefited from increases under the National Minimum Wage Act. “Our senior citizens are suffering, after dedicating our youthful years to serve our country, and this is the outcome,” Nwaiwu said.

He continued, “It has been over 20 months (since March 2023) without accrued rights issued for pensioners by the government. Many of our members are struggling—some are bedridden, and others have passed away in the struggle. We cannot afford to feed ourselves, support our families, or pay for our medical bills anymore. Please use your good office to help us.”