The Adamawa State Pension Board has asked for increased funding for installment payment of an N18 billion overhang of gratuities to retired civil servants.
The Executive Chairman of the board, Mr Thomas Madi requested the State House of Assembly to raise from N50 million to N350 million the monthly allocation currently being given for clearing of the gratuities.
“The salient issue is the outstanding liability of gratuity of N18 billion,” the board chairman told a visiting committee of the State House of Assembly, adding that raising the current N50 million monthly allocation to N350 million would enable the board to fully settle the N18 billion liability in four years.
Thomas Madi who made the point while granting audience to the Adamawa State House of Assembly Standing Committee on Public Petition Public Service and Electoral Matters, also asked for approval of the Assembly for the implementation of the newly reviewed pension rate of N7,000 monthly minimum as against the current N4,000 for a pensioner per month.
Speaking, Chairman of the House Committee, Hon Wilberforce Dangolok who is also the Deputy Chief Whip and represents Guyuk State Constituency, told the board that the committee visited the pension board to get acquainted with its operational challenges.
He assured the board that the House of Assembly was ready to assist them with their needs for speedy settlement of outstanding gratuities of pensioners and the review of current rate of pension.