FCT Pension Board disburses N8bn to 1, 217 retirees in 6 years

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The Federal Capital Territory (FCT) Area Council Staff Pension Board has disclosed the disbursement of over N8 billion as accrual benefits to 1,217 retirees over the period of six years; from 2016 till date.

Also, within the same period, it paid the total of N896 million as death benefit.

Director of the Board, Dr. Nanzing Nden, who made this disclosure, Wednesday during an interview with newsmen in Abuja, said for this year, the Board disbursed N754 million as pension to 194 retirees.

Nden added that within the same period, the Board has paid N1.8 billion as monthly pension to one million and forty-four retirees under the old scheme.

Highlighting some of the things that the Board had done over the last six years, the director said the Board implemented the pension management system, which includes the website, all the media sites, a workflow system and Information Technology Centre which keeps all its records.

“Over the five or six years we have been here, we have been able to do a few things; the implementation of the system, where we gave a robust system of implementation or computation of accrual rights benefits to all our staff. Also, we have a document management that ensures all our files are digitalised, and in the course of our effort in this direction, the FCT Administration itself has come to copy what we are doing here.

“Also, we have been able to maintain a group life assurance policy to ensure that all those who died during this period were paid their insurance benefit. We also have paid 896 million naira as death benefit of those who died the same period, in lieu of their death.

“Every year, we have been able to implement pension operational management system retreat , where we bring all management and stakeholders to brainstorm on our reports and critique us and advise us on the way forward.

“Through this, we have been able to launch our SERVICOM charter as the first FCT agency to do so; no other agency has been able to do that. So, we are the only agency in the FCT that has a charter. Also, we have been able to launch our anti-corruption transparency guide, and we are the only agency in the FCT to do such.”

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