Retiree Laments Inflation As 2004 Gratuity Is Paid 22 Years Later

A retiree who left service in 2004 has lamented the impact of inflation after receiving her gratuity 22 years later, saying the payment could no longer settle her outstanding debts.

Speaking on condition of anonymity, the retiree confirmed that her arrears had been paid, adding that her Retirement Savings Account (RSA) had been credited and she had received her entitlement.

“I can confirm that my arrears have been paid. My RSA has been credited and I have received my entitlement,” she said.

She, however, said the value of the payment had been significantly eroded by inflation.

“Although when the payment came in, it could not settle my debt due to inflation. I retired in 2004 and my gratuity was paid this year,” she added.

Another retiree, Mr Christopher Bello, commended the federal government and the National Pension Commission (PenCom) for improvements in pension administration.

Bello said monthly pension payments had been regular over the past three years, adding that pensioners also received an increment during the period.

“The federal government and PenCom have done well. In the last three years, monthly payments have been regular and there was an increment,” he said.