The Federal Universities Pensioners Association (FUPA) has called for the decentralisation of pension payments by putting in place boards that would oversee the affairs of pension matters.
National President Dr. Ayuba Audu Kura and Secretary, Mr. Jonathan Iyoo made the call in the presentation made to the Senate Committee on establishment, public service, state and local government administrations.
They said their presentation to the committee was for consideration towards effective and efficient management of pension funds and administration with the hope of improving the utilisation of pension funds, and eliminating fraud and other vices.
According to Dr. Kura, The Boards or Commissions will no doubt make pension fund management less burdensome while accountability will also be achieved.
The Association had recommended the creation of nine Boards or Commissions under the old pension scheme for transparency and accountability as well the management of pension funds should be opened to the pensioners.
The President appealed to Government to pay pension increases and awards without undue delays to avoid arrears in order to avoid accumulation of funds resulting to fraud.
This he said, if implemented would help to stabilise the market forces since arrears gave rise to inflation, whenever increases were awarded.
