The Nationwide Pension Fee (PenCom), on Thursday, mentioned the Federal Authorities had launched N13.89 billion for cost of Accrued Pension Rights (APRs) of 2022 retirees of Ministries, Departments and Businesses (MDA’s).

The fee mentioned this in a press release on its official twitter deal with on Thursday.

The Information Company of Nigeria (NAN) reviews that APRs signify an worker’s advantages saved up whereas in service as much as June 2004, when the CPS got here into impact.

PenCom added that the beneficiaries have been retirees underneath the Contributory Pension Scheme (CPS).

The fee appreciated the efforts of President Muhammadu Buhari for his untiring help and dedication to the implementation of the CPS that continued to make sure the welfare of retirees.

It added that it was processing remittances into the assorted Retirement Financial savings Accounts (RSA’s) of the affected retirees and their Pension Fund Directors (PFAs) and that the fee would notify them sooner or later.(NAN)