Some Nigerian pensioners across the country have expressed deep frustration over the persistent delay by certain Pension Fund Administrators (PFAs) in the payment of their outstanding pension arrears, despite a clear directive from the National Pension Commission (PenCom) mandating timely settlement.
PenCom had recently instructed all licensed PFAs to ensure the payment of accrued pension arrears to eligible retirees within 10 working days after the completion and submission of required documentation.
However, 108scoop.com findings indicate that several pensioners are yet to receive their entitlements weeks after fulfilling all necessary procedures.
Mr. Jide Femi, a retiree who spoke with 108scoop.com, said he completed the processing of his documents for the payment of arrears on December 4 but has not received any payment as of the time of filing this report.
“As I speak with you, nothing has been paid into my account. What is even more painful is that nobody from my PFA has reached out to explain the reason for the delay or give any timeline for payment,” Femi said.
Similarly, Mrs. Fatima Williams, a retired school principal, described the situation as distressing, especially given the rising cost of living and the festive season.
“I honestly don’t understand what is happening with my PFA. I have not been paid 50 per cent of my arrears as promised. When I followed up on the outstanding ₦32,000 balance, I was told it would be paid next year. This is unacceptable,” she said.
Mrs. Williams added that many retirees rely solely on their pensions for survival, noting that delays often result in severe financial hardship, including difficulty meeting basic needs and medical expenses.
Another pensioner, Chief Martins Adeleke, 70, criticised the conduct of erring PFAs and called on PenCom to take decisive action against them.
“It is less than two days to Christmas, yet many of us are being kept in miserable conditions. We served this country diligently and deserve better treatment in retirement. If some PFAs are not ready to do their work,
PenCom should withdraw their licences and hand them over to more serious and responsible organisations,” Adeleke said.
He stressed that failure to comply with PenCom’s directive undermines confidence in the contributory pension scheme and erodes trust among retirees.
However, not all pensioners shared the same experience.
Mr. Sylvanus Ike, another retiree, commended Stanbic IBTC Pension Managers for prompt and efficient service.
“I received my 50 per cent arrears just two days after processing my documents. This shows that prompt payment is possible. It is unfortunate that some PFAs have failed to pay their clients even after more than 20 working days,” Ike said.
Several pensioners also appealed to PenCom to strengthen its monitoring mechanisms and enforce strict sanctions against defaulting PFAs to ensure compliance with its directives.
Efforts to obtain comments from the affected PFAs were unsuccessful as of the time of filing this report. PenCom has yet to issue an official response on the complaints, but pensioners remain hopeful that the commission will intervene swiftly to address the delays and alleviate their suffering.
