The Federal Capital Territory Administration (FCTA) has granted its approval for the disbursement of a significant sum totaling N2,253,214,569.36 billion naira. This allocation will cater to pension and gratuity payments, as well as Group Life Insurance claims, benefitting a total of 445 retirees, including the families of deceased FCT officers.
During a stakeholders’ meeting held in Abuja, Mr. Rotimi Ajayi, the Director of the FCT Pension Department, disclosed these details. He emphasized that the approved amount encompasses not only the accrued benefits for 197 retired staff members from various Secretariats, Departments, and Agencies under the FCT Administration but also the next of kin of 248 deceased officers. Additionally, the sum includes the settlement of 2019 arrears owed to the affected personnel.
Mr. Ajayi further clarified that N964,123,713.47 has been allocated to the next of kin of the deceased officers, N587,456,832.78 is designated for the payment of accrued right benefits to the 197 retirees, and N701,634,023.11 has been released to cover pension arrears resulting from the salary increment in 2019.
He emphasized that the FCTA is committed to ensuring that the accrued right benefits are disbursed to staff who were in service prior to the implementation of the Pension Reform Act of 2004, which introduced the Contributory Pension Scheme. To access their retirement benefits, beneficiaries are required to have funds deposited in their Retirement Savings Accounts managed by Pension Fund Administrators. It is important to note that the approved payment also addresses the arrears based on salary increments for the year 2019.
Mr. Ajayi expressed his appreciation to the FCTA’s leadership for their benevolent action toward senior citizens. He underscored the authorities’ dedication to timely pension payments, aiming to enhance the living standards of retirees. He assured that the FCTA will continue to prioritize pension disbursements, striving to improve the well-being of beneficiaries. Furthermore, he urged pension desk officers within various Secretariats, Departments, and Agencies to focus on improving staff reconciliation processes, thereby addressing issues related to incorrect PINs or Pension Fund Administrators.
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