FG Inaugurates C’ttee to Review Pension Liabilities

Ndubuisi Francis in Abuja
The federal government has inaugurated an inter-ministerial committee to review all pension liabilities and evolve strategies on how to offset such liabilities.

Inaugurating the committee in Abuja on Monday, the Minister of Finance, Mrs. Kemi Adeosun, who chairs the body gave its terms of reference to include reviewing and reconciling all pension liabilities of the federal government; make recommendations as to what portion of the liabilities can be funded through budgetary appropriations: and suggest creative ways of funding the balance.

According to a statement issued by the Ministry of Finance, Adeosun tasked members of the committee to equally identify any pension assets that could be in suspense and ensure that such monies are used in offsetting the liabilities.

The inter-ministerial committee is also mandated to set up a mechanism that will facilitate regular payment of pensions through budgetary allocations and other creative ways.

The minister lamented the plight of pensioners who were not paid their entitlements and vowed that the committee would ensure that it creates a mechanism through which pensioners would be paid as and when due.

Other members of the committee include the Accountant-General of the Federation; the Executive Secretary, Pension Transitional Arrangement Department (PTAD), Acting Director-General of the National Pension Commission and the Director-General of the Budget Office of the Federation.

The Office of the Secretary to the Government of the Federation and the Office of the Head of the Civil Service of the Federation are also represented on the committee.

President Muhammadu Buhari had approved the constitution of the inter-ministerial committee to reconcile outstanding pension liabilities due to civil servants and offer solutions to the lingering problems in the pension system.