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Pension reforms – pensioners unhappy with implementation

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19 August 2017   |   11:00 am
Pension reforms - pensioners unhappy with implementation.

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Retirees of the Power Holding Company of Nigeria [PHCN], have protested non-payment of 33 percent increment in their pension. Their demands include a 42 percent shortfall payment for the past 21 years to the year 2000. Harmonisation of pre-2003 retirees; and monetisation of post-2004 retirees. The demands also include a 33 percent pension rates increment of July 2010, paid to all other Defined Benefit Scheme (DBS), pensioners to date.