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'Why Pension Scheme was Created' From Tunde Sanni in Ilorin Accountant General of Kwara State, Alhaji Tunde Abdulkareem has explained that pension scheme was created to provide stable income for employees after their retirement. Abdulkareem, in a paper presented at a send-forth for the Federal Pay Officer (FPO) Mr. J.J. Ebito, and two other staff of Federal Pay Office in Ilorin, added that the scheme was meant to solve the problems of pensioners in the country. Abdulkareem advised civil servants to cooperate with the Federal Government while implementing the Pension Reform Act 2004 which took effect in July, this year. Under the act, employers employees are to contribute 15 per cent of the monthly emoluments into the fund. He explained that in the case of the military, the employer is expected to contribute 12 1/2 per cent and the employee two and a half per cent. Abdulkareem hinted that the new pension scheme would remove the hardships faced by pensioners before collecting their entitlement "The statistics of retirees /pensioners who collapsed or died waiting for their retirement benefits, is daily increasing," adding that after the death of employees, relations suffer because of the problems in collecting the entitlements." Abdulkareem noted that there had been an increase in the pension bill of the three tiers of government, adding that they were finding it difficult to foot the bills. According to him, factors that led to bloated pension bills included review of retirement benefits of heads of service and permanent secretaries who now earn 100 per cent of their emoluments, while in service, as pension. Another reason, adduced is the Harmonished Public Service Salary Structure and Allowances for Federal Public Service which took effect from May 1, 2000. This, he explained, led to increase in their transport, meal subsidy, utility, entertainment and domestic servants allowance. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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