The Pension Management Department is responsible for the formulation, and implementation of Government Pension pay policy aimed at ensuring fair, equitable and affordable pension pay system in the Nigerian economy.
FUNCTIONS OF PENSION MANAGEMENT DEPARTMENT:
Examine , streamline and recommend applicable pension increases whenever the salaries of (5) years whichever is earlier;
Examine retirement benefits, pension and related matters and establish mechanisms for the periodic reviews;
Conduct research on the impact of retirement benefits, pension and other related issues;
Conduct research on the impact of pension schemes on the Nigerian economy;
Conduct regular public enlightenment for workers and pensioners;
Liaise with pension regulators, managers and administrators to ensure smooth pension management; and
Undertake any other activity which is likely to assist in the smooth management and administration of pensions and related matters in the Public service.
ACTIVITIES:
Evaluate request from agencies for pension rate clarification/review
The Department on request, compute and clarifies pension rate progression of pensioners on the Contributory Pension Scheme (CPS) owing to upward review of salary of workers of the agency;
Rendering technical services/advise to government on pension related matter;
Interface with the National Union of Pensioners (NUP) on behalf of Government to resolve pension related issues;
Carry out pension rate verification of Ministries, Department and Agencies (MDAs) in the Federal Public Sector of the Nigerian economy; etc.
