By Uzair Adam
The Correctional Officers Pencom Retirees Association of Nigeria (COPRAN) has criticized the Contributory Pension Commission (PenCom) scheme, arguing that it has exacerbated the difficulties faced by retirees.
In a petition addressed to President Bola Tinubu, the Senate President, the Speaker of the House of Representatives, the Minister of Labour, and the Human Rights Commission, among others, COPRAN expressed concerns about the inadequate distribution of funds to pensioners after retirement.
Mr. Anthony Ayiwulu, President of the Plateau Command of COPRAN, stated that while the PenCom policy was intended to benefit retirees, it has unfortunately caused significant harm to public servants who have dedicated many years of service to the nation.
He emphasized the urgent need for the policy to be revised or overhauled to better serve retirees’ needs.
Ayiwulu highlighted the plight of retirees who, after 35 years of diligent service, find themselves struggling to receive their gratuities and meet basic living expenses.
He noted that the Nigerian Army successfully requested exemption from the PenCom scheme due to the severe hardships it imposed on retired servicemen.
In light of the current economic challenges, Ayiwulu called for a more equitable approach to handling retiree benefits, including timely payment of pensions and provision of support to help them cope with inflation and other financial burdens.
He also mentioned that despite being asked to provide their information through various Pension Fund Administrators (PFAs), many retirees have yet to receive a response or any form of assistance to alleviate their financial hardships.