Pension / retirement / pension scheme / financial and business concept. The word ‘PENSION’ in German, on a stack of euro coins and banknotes.
Retirees in Cross River State have appealed to Governor Bassey Otu to review and harmonise their pensions, saying some former state workers receive as little as ₦4,000 monthly amid rising living costs.
The Chairman of the Association of Retirees in the state, Dr Daniel Effiong, made the appeal while speaking with newsmen on Friday in Calabar. He said pension payments had not been adjusted since 2014 despite successive increases in the national minimum wage, leaving many retirees struggling to afford food, medication and other basic needs.
Effiong said the situation had become more difficult for elderly retirees as the rising cost of living and declining value of the naira continued to reduce their purchasing power.
According to him, many former state workers were also still waiting for their gratuities several years after retirement.
The chairman, however, acknowledged the state government’s efforts to ensure regular monthly pension payments. He also commended Governor Otu for his promise to release another tranche of gratuities before December.
Effiong said the ₦10 billion gratuity payment made by the state government about two years ago had not completely cleared the backlog, leaving many retirees still waiting for their entitlements.
He urged the governor to review the existing pension structure and introduce consequential adjustments to align retirees’ benefits with current economic realities.
“Such an adjustment will help cushion the impact of inflation and the rising cost of essential goods and services on elderly former workers,” he said.
Also speaking, the association’s Public Relations Officer, Mr Frank Odey, opposed any proposal to establish another committee to handle pension payments, saying this could further delay the process.
Odey said the offices of the Auditor-General and Accountant-General already had constitutional responsibilities relating to pension payments.
He also called for upward adjustments in pensions and gratuities, noting that the declining value of the naira had substantially reduced retirees’ purchasing power.
According to him, some retirees, particularly those without other sources of income, were struggling to pay for accommodation, healthcare, food and other basic necessities.
Odey urged the state government to maintain regular pension payments while reviewing pension rates and settling outstanding gratuity obligations.
He said addressing the issues would provide relief to retirees who had spent their working years serving the state.
