Nigeria: Jigawa Pension Settles N27.9 Billion Terminal Benefits in Last Five Years

24 July 2020

Jigawa state and local governments contributory pension board have spent a whooping sum of N27.9billion to 10,487 beneficiary pensioners in the last five years (May 2015 - May 2020).

The Executive Secretary of the board, Hashim Ahmad Fagam disclosed this while addressing Newsmen at the pension house in Dutse, said the payment has been categorized into three units namely state, local government and local education authority (LEA), added that 4,964 workers retired from active service and were paid a total sum of over N8.4bn while death benefit of 1,475 workers stood at over N2.8bn

Hashim Fagam explained that the sum of over N332.2million was paid to 534 beneficiaries as death pension balance refund while refund of 8 percent contribution was paid to 78 people from the three units, totalling to the tune of N14.9m, added that there was no indeed payment and 40% pension increase during the period under review.

He explained that the board has presently N19bn worth assets and is been managed by the Pension Administrators Fund, noted that the board has employed the services of 10 Pension Fund Administrators (PFA) led by Premium Pension Fund.

Hashim maintained that "I'm happy to inform you that Jigawa pension is leading in Nigeria and is still the best, as states are trooping every day to emulate our pension policy".

He commended the state governor Muhammed Badaru for his support and understanding to the board as at when due, saying he has excelled in the payment of terminal benefits and other entitlement of workers without delay.

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