{"id":7288,"date":"2013-07-29T09:39:51","date_gmt":"2013-07-29T09:39:51","guid":{"rendered":"http:\/\/disnaija.com\/nigerian-newspapers\/faan-writes-pencom-for-clarification-over-new-scheme\/"},"modified":"2013-07-29T09:39:51","modified_gmt":"2013-07-29T09:39:51","slug":"faan-writes-pencom-for-clarification-over-new-scheme","status":"publish","type":"post","link":"https:\/\/disnaija.com\/faan-writes-pencom-for-clarification-over-new-scheme\/","title":{"rendered":"FAAN writes PenCom for clarification over new scheme"},"content":{"rendered":"
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Following the compulsory migration to the new pension scheme as propelled by the National Pension Commission, PenCom, the management of the Federal Airports Authority of Nigeria, FAAN, has written to the commission for clarification.<\/p>\n

FAAN management wrote PenCom to get clarification on the commencement of the new regime in order to allay workers\u2019 fears, some of who are bent on resigning from the agency as a result of the new pension scheme, while many of the old workers described it as unfavourable.<\/p>\n

National Mirror had reported exclusively about the planned mass resignation of members of staff of the agency recently because of the new scheme.<\/p>\n

Information gathered by our correspondent indicated that no fewer than 30 per cent of its total 6, 000 workforce are considering tendering their resignation letters to avoid being caught up in the new scheme.<\/p>\n

PenCom had earlier in the year wrote the management of FAAN and ordered it to migrate from its internal pension scheme to the new scheme of PenCom latest by March 31, 2014.<\/p>\n

Initially, the deadline set for FAAN to migrate to PenCom scheme was 2015, but the management wondered why the commission drew the date backward by one year.<\/p>\n

If the new pension scheme is sanctioned by FAAN management, the implication is that pensionable staff; those who have spent at least 10 years in service or attain the age of 45 will have their monthly retirement benefits reduced by over 90 per cent.<\/p>\n

For instance, a Level 17 officer whose basic salary is about N320, 000 and who is entitled to same after retirement will now earn between N22, 000 and N25, 000 monthly as monthly benefit.<\/p>\n

However, an online statement signed by the General Manager, Corporate Communications, FAAN, Mr. Yakubu Dati, yesterday assured the workers that the directive from PenCom for it to migrate from the Defined Benefits Scheme run by the authority to the Contributory Pension Scheme, CPS, in line with the Pension Reform Act 2004 of the Federal Government of Nigeria would be looked into by the management.<\/p>\n

Dati said the directive which states, among other things, that staff of FAAN opting to retire under the Defined Benefits Scheme should do so between now and March 31, 2014, implies that anyone who chooses to remain in service after the said date will automatically migrate to the Contributory Pension Scheme.<\/p>\n

He said the management has written to Pen- Com for clarification on the exact transition period for the migration and other related issues that have given the staff concern, promising to keep all staff abreast of further developments on the issue.<\/p>\n

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Posted in Nigerian Newspapers. <\/a>A DisNaija.Com<\/a> network.<\/p>\n

Source: National Mirror Newspaper<\/p>\n

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