Adeosun heads new committee on pension debts

Minister of Finance, Mrs Kemi Adeosun

Minister of Finance, Mrs Kemi Adeosun
President Muhammadu Buhari has approved a committee, headed by Kemi Adeosun, the Finance minister, to estimate the pension liability of the Federal Government.

Budget and National Planning Minister, Senator Udoma Udo Udoma made this known Friday in a statement by his Media Adviser, James Akpandem.

Udoma said that the committee would reconcile outstanding pension liabilities and proffer funding solutions.

The committee has four weeks to complete its assignment and hand over a report to President Buhari.

Deal of the day

Other members of the committee are representatives of the Secretary to the Government of the Federation, the Head of Service of the Federation and the Accountant General of the Federation.

The Director General of the Budget Office, Director General of PENCOM, and Director General of Pension Transitional Arrangement Directorate (PTAD) are also members. The PTAD DG will act as Secretary.

Udoma said that committee would review and reconcile all pension liabilities of the Federal Government.

He said it would make recommendations as to what portion of the liabilities can be funded through budgetary appropriations, and suggest creative ways of funding the balance.

Udoma and Adeosun appeared before the House of Representatives on Thursday, where they informed members of the approval by the president for the establishment the committee.