Pencom scheme worsening – COPRAN

The Correctional Officers Pencom Retirees Association of Nigeria (COPRAN) has criticized the contributory Pension Commission (PenCom) scheme for exacerbating the difficulties faced by retirees.

In a formal 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, COPRAN highlighted that retirees have been deprived of their entitlements by PenCom following their retirement.

Mr. Anthony Ayiwulu, President of COPRAN’s Plateau Command, argued that although the PenCom policy was intended to be beneficial, it has instead inflicted significant hardship on public servant retirees, who are also senior citizens.

Ayiwulu emphasized the urgent need for a revision or overhaul of the policy to improve the conditions for retirees and to achieve more effective results. He noted that after 35 years of dedicated service, retirees are left struggling to meet their basic needs and support their families due to owed gratuities and inadequate financial provisions.

He pointed out that the Nigerian Army had successfully exited the PenCom scheme, citing the scheme’s detrimental impact on retired servicemen’s lives. In the face of rising inflation and increasing financial pressures, retirees are burdened with numerous expenses, including healthcare costs.

Ayiwulu called for fairness in the nation’s treatment of its citizens, emphasizing that timely payments to civil and public service retirees would help them manage retirement more effectively. He also noted that senior citizens have yet to receive any financial relief to alleviate the current economic hardships.

He further mentioned that despite being instructed to submit their information through Pension Fund Administrators (PFAs), retirees have not received any positive feedback or resolution.