Retirees Cry Out Against PenCom Scheme, Say it’s Worsening Their Challenges

The Correctional Officers Pencom Retirees Association of Nigeria (COPRAN) has petitioned President Bola Tinubu, Senate President, Speaker House of Representatives, Minister of Labour, and Human Rights Commission, among others, over the worsening challenges faced by retirees under the contributory Pension Commission (PenCom) scheme.

According to COPRAN, pensioners are being starved of their funds by PenCom after retirement, leaving them with untold hardship and inability to provide for their basic needs. The association’s president, Mr. Anthony Ayiwulu, lamented that after 35 years of diligent service to the nation, retirees are only owed gratuities and unable to cater to their families’ needs.

Ayiwulu stated that the Nigerian Army had opted out of the PenCom scheme and their request was granted, citing the scheme’s creation of untold hardship for retired servicemen. He emphasized the need for the policy to be changed or reviewed for the common good and betterment of retirees.

In the current economic situation, retirees face numerous challenges, including the high cost of living and healthcare expenses. Ayiwulu urged the government to prioritize fairness in its dealings with citizens, including the prompt payment of civil and public servants’ retirement benefits, to help them cope with retirement.

COPRAN further lamented that senior citizens under PenCom have yet to receive any palliative to mitigate the hard economic situation in the country. They were asked to submit their information through their various Pension Fund Administrators (PFAs), but there has been no positive response so far.

The petition is a stark reminder of the plight of retirees in Nigeria, who are often left to struggle with limited resources. The government must take immediate action to address the concerns of COPRAN and other associations to ensure that retirees receive the benefits they deserve.