The National Pension Commission has initiated high-level engagements with the Lagos State Government and the Lagos State Pension Commission over ongoing concerns surrounding the administration of benefits under the Contributory Pension Scheme, particularly the implementation of pension increments and approved wage awards.
PenCom made this known in an official statement released on Monday, following public demonstrations by retirees under the auspices of the Nigeria Union of Pensioners and the Contributory Pension Scheme sector in Lagos.
The retirees had gathered near the Lagos House, Ikeja, demanding the implementation of consequential adjustments, payment of wage awards, and the clearance of outstanding pension benefit arrears.
Reacting to the developments, the industry regulator stated that it recognised the importance of ensuring retirees receive all legitimate entitlements while acknowledging the hardship caused by delays in implementing approved adjustments.
“PenCom has engaged with the Lagos State Government and the Lagos State Pension Commission on matters related to the administration of pensions under the CPS, including the need to extend appropriate pension adjustments to eligible CPS retirees,” the Commission stated.
