UBA Pensioners Demand Urgent Review of Meager Pension

UBA Pensioners Demand Urgent Review of Meager Pension

During a press conference in Abuja, the UBA Pensioners asked the Nigerian government to review their monthly pensions.

The association, called FEPPPAN, wants the bank management to follow the approved pension increases. The increases were approved by NSIWC in 1995.

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The UBA Pensioners, led by Fidelis O. Fapohunda and Franklin O. Erinle, worry about low pensions.

They say some pensioners died early because of money problems.

Over 3,000 retirees, including top executives and messengers, accused the bank of delaying their pension increases and entitled benefits.

The pensioners want their monthly pensions to be reviewed right away. They want the review to follow the approved increases from NSIWC since 1995.

They also want the other things they deserve to be given to them. The pensioners claimed that the bank management didn't care about the retired workers, despite promises.

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Erinle spoke to the press and said that NSIWC in Abuja was informed about the issue.

They confirmed that UBA Plc must follow the law (Section 173, Clause 3) and review pensions regularly.

He said that over 3,000 pensioners, including retired executives and messengers, are paid only N1,763.27 per month."

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Highlighting the constitutional basis for their request, Alhaji Adetimehin, a 74-year-old pensioner, cited Section 173 (3) of the Constitution of the Federal Republic of Nigeria.

Which mandates pension reviews every five years or in conjunction with any Federal Civil Service salary reviews, whichever comes earlier.

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He expressed disappointment that pensions in UBA Plc had not been reviewed from 1995 to 2005.

Echoing similar sentiments, Mr. Sopitan, an 82-year-old pensioner of UBA Plc, criticized the management for not adhering to constitutional provisions.

Despite the pensioners' continuous efforts to persuade the bank to address their concerns, their appeals have allegedly fallen on deaf ears.

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Some pensioners, speaking on the sidelines of the press conference, shared their sadness and displeasure, highlighting the dehumanizing conditions they face.

When approached for a response, UBA spokesperson Ramon Nasir indicated that an official reaction would be provided later on Tuesday.

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As the UBA Pensioners seek justice and a fair review of their pensions, their call resonates with the broader issue of ensuring the welfare of retirees in Nigeria.

The outcome of this plea will likely have implications for pension practices across the country's financial sector.

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