2,304 relatives of deceased workers got N13.4bn in Q3 2022 – PenCOM

The relatives of 2,304 deceased workers under the Contributory Pension Scheme got N13.36bn benefits between July and September 2022.

The National Pension Commission, PenCom, disclosed this in its latest 2022 third-quarter quarterly report.

The report disclosed that the Commission paid the relatives of 1,722 late employees in the public sector and 582 late employees in the private sector.

The pension regulator stated, “In the Third Quarter of 2022, necessary approvals were granted for payment of death benefits to the tune of N13.36bn to the legal beneficiaries/administrator of 2,304 deceased employees and retirees. It comprises 1,722 public (Federal Government & State) and 582 private sector employees/retirees.”

The Commission vowed to deal with relatives, workers and retirees who fake the death of contributors to get undue benefits entitled to the deceased persons.

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