The Federal Government has reportedly taken a significant step towards addressing inherited pension liabilities, clearing a whopping N758 billion for over 957,000 beneficiaries, according to a report by Radio Nigeria Lagos. This move is expected to alleviate some of the financial burden on retirees and pensioners who have been waiting for their benefits. The exact timeline for the payment of these liabilities has not been disclosed by the government. The pension sector in Nigeria has been plagued by numerous challenges, including underfunding and delays in payment of pensions. This development is, therefore, a welcome relief for many beneficiaries. It remains unclear if this move is part of a broader plan by the government to address the long-standing issues in the pension sector.
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