Kano pension fund received N4.4bn in 2 years

Kola Oyelere, Kano - 05.02.2008

DETERMINED to make pensioners feel a sense of belonging as well as enjoy dividends of democracy, the new Pension Trust Fund introduced by the Kano State Government, under the new pension scheme, has received N4, 427,358,338.93 between November 2006 and December, 2007.

The permanent secretary of the fund, Alhaji Garba Aliyu Gezawa, who said this over the weekend in Kano, said out of the amount, the state Pension Trust Fund had made payments of N2,914,630,428.62 and invested about N904 million to boost the scheme.

He added that this had afforded the fund the opportunity to pay pensioners regularly, adding that the scheme had also given opportunities to both employers and the employees to contribute toward their pension, leaving the state government to contribute only 17 per cent, while the employees of state and local governments contribute 80 per cent.

He further disclosed that already, N138,900,000.600.65 was paid to 17,498 pensioners in the state last month, stressing that the fund was not indebted to any pensioners at both state and local government levels.

Alhaji Gezawa said that the scheme had made it mandatory for all civil servants to contribute towards the fund, assuring that the state government would continue to carry people along in all its programmes.