Senate to investigate contributory pension scheme

The Senate has concluded plans to hold investigative public hearings in the six geopolitical zones on the administration of the contributory pension scheme in the country.The Senate committees on Establishment and Public Service, and States and Local Government Affairs were mandated to take up the task after a motion was debated and passed by the upper legislature on November 2, 2011.The Chairman of the joint committee, Senator Aloysius Etuk, told journalists on Thursday that it was out to seek answers to the questions worrying stakeholders about the existing pension scheme in the country.According to him, the committee will need to know how many pensioners are currently existing today and whether they are getting their monthly pensions when due.He said the investigation would also reveal the exact monthly pension bill of pensioners in the various pension offices and systems and would also ascertain what had been released annually in the last seven years for the payment of pensions.Etuk noted that the investigation would also attempt to uncover any form of corruption or violation of relevant financial laws.He said, The National Assembly is fully vested with the power to make laws on pension matters, appropriation of funds for pension and oversight on the implementation of laws so enacted and funds so appropriated.The powers of the National Assembly on investigation for the purpose of exposing corruption, inefficiency, misappropriation and application of funds, mismanagement/embezzlement and correction of such anomalies are enshrined in the Constitution..
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