After protracted negotiations, electricity workers have sealed a deal with the Federal Government to end the lingering crisis over their pension payout.
In an agreement reached at the Office of the Secretary to the Government of the Federation, the Federal Government agreed to pay the workers’ pension that had accrued by June 30, 2007 on the basis of 25 per cent of their annual salaries. However, the payment will be based on the new conditions of service that came into effect in 2010, while pension accruals from July 1, 2007 will be based on 15 per cent of annual salaries as contained in the Pension Reform Act, 2004.
The workers had been at loggerheads with the Federal Government since 2010 over what their terminal benefits should be.
While the former Minister of Power, Prof. Bart Nnaji, had insisted that the workers should be paid on the basis of the 2004 PRA, the workers had insisted that they must be paid according to their Superannuation Fund, which made them to be entitled to 25 per cent.
Present at the meeting were the Secretary to the Government of the Federation, Senator Anyim Pius Anyim; Minister of Labour, Chief Emeka Wogu; Minister of State for Power, Mrs. Zainab Kuchi; President, Trade Union Congress, Mr. Peter Esele; and Secretary General, National Union of Electricity Employees, Mr. Joseph Ajearo.
Anyim signed the agreement on behalf of the Federal Government, while Esele and Ajearo signed on behalf of the workers.