Jigawa releases N27.8bn to over 10,000 retirees

The Jigawa Government on Thursday said it had disbursed N27.8 billion to various classes of retirees in the Contributory Pension Scheme in the past five years.

Alhaji Hashimu Fagam, Executive Secretary, Jigawa State and Local Governments Contributory Pension Scheme Board, made this known at a news conference in Dutse.

The News Agency of Nigeria (NAN) reports that the figure was paid to a total of 10,487 beneficiaries from May 2015 to May 2020.

Fagam said that the N27.8 billion was paid to various classes of beneficiaries who fall under the retirement benefit, death benefit and death pension balance.

Others were refund of eight per cent contribution, refund of under payment and 40 per cent pension increase.

He said that under the scheme, each staff was contributing eight per cent while the state government paid 17 per cent for each staff either in the service of state, local government and local government education authority.

Giving the breakdown for the month of July 2020, the executive secretary said a total of N184.9 million was released to 72 retirees from the state as retirement benefits.

Similarly, about N87 million was released to 51 retirees from the local governments as their retirement benefits, while N454.3 million was paid to 198 retirees from local government education authority.

Fagam said that a grand total of N726.1 million was released in July 2020 as retirement benefits for the 321 beneficiaries from the state, local governments and local government education authority.

He also announced that a total of N84.5 million was paid as death benefits to 39 beneficiaries from the state, local governments and local government education authority.

The executive secretary said 30 beneficiaries from the state, local governments and local government education authority were also paid N29.1 million as death pension balance this month.

Fagam said that three retirees from the state government were paid a total of N484,751 as a refund of eight per cent contribution in the month under review.

According to him, a grand total of N840.2 million was released in the month under review to 393 beneficiaries from the state, local governments and local government education authority.