The Rivers State Government has announced an increase to the Pension Fund, adding N1 billion to the existing N1 billion, doubling the total to N2 billion. This approval was made during the State Executive Council meeting on Thursday, presided over by Governor Siminalayi Fubara at the Executive Council Chambers, Government House, Port Harcourt.
The Commissioner for Information and Communications, Warisenibo Joseph Johnson, praised the Governor’s decision, describing it as a significant move towards improving the welfare of both current civil servants and retirees. Johnson emphasized the impact of the increased fund on pensioners, aligning with Governor Fubara’s broader welfare agenda.
In a statement by Nelson Chukwudi, the Chief Press Secretary to the Governor, Johnson highlighted, “The Governor’s N1 billion addition to the Pension Fund is commendable. This increase from N1 billion to N2 billion will cater to the needs of our pensioners and reflects the Governor’s commitment to the welfare of civil servants and retired senior citizens.”
Additionally, the Rivers State Head of Civil Service, Dr. George Nwaeke, announced that the council has domesticated the federal law extending the retirement age for teachers by an additional five years. This means teachers in Rivers State will now retire at 65 years of age or after 40 years of service, whichever comes first. However, Nwaeke clarified that the extension applies only to professional teachers registered with the Teachers’ Registration Council of Nigeria (TRCN).
“This is a significant development for teachers in the state,” said Nwaeke. “Teachers will now retire at 65 or after 40 years of service. Importantly, this benefit is exclusive to classroom teachers, not administrative or non-teaching staff.”
The policy, according to Nwaeke, will be implemented immediately, following the national circular that enables the elongation of service years for teachers across the country.
