The House of Representatives Committee on Pension said it has gone far in addressing the concerns over the administration of the over N15.5 trillion Pension assets and the N10 trillion given to the federal government as loan as well as other issues.
Chairman of the Committee, Hussaini Mohammad Jalo and his Deputy, Olaide Mohammed disclosed this at a press briefing on the activities of the committee on Tuesday.
He said that, the committee was mandated to “Investigate the status of the Pension Fund Assets of over N15,500,000,000,000 (Fifteen trillion five hundred million naira only) with a view to ensuring that the N10,000,000,000,000 (Ten trillion naira only) loaned to the federal government from the Pension Fund is duly recovered and modalities are put in place to hinder the collapse of the pension schemes.
“Scrutinise the failure of Pension Fund Administrators (PFAs) in fulfilling its obligation to retirees as regard access to their retirement savings”.
Jalo noted that the committee has done its work and will address all concerns being raised on Pension by Retirees who are being subjected to unnecessary hardship despite clear provisions of the Act about their entitlements.
