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Monday, April 8, 2013

Workers’ pension calculation threatens PHCN privatisation

PHCN staff during a protest
 
Fresh facts have emerged that the Federal Government and workers of the Power Holding Company of Nigeria have yet to agree on the actuarial calculation of the pension entitlements of the aggrieved employees of the firm.
Though the government had mid-last month agreed to settle all outstanding entitlements of the workers to pave the way for the smooth handover of the PHCN successor companies to investors, our correspondent gathered on Tuesday that there were still unresolved concerns between both parties.
The Federal Government in March constituted an implementation committee for the settlement of workers’ benefits in the power firm, stressing that it had sufficient funds to offset the severance pay and other entitlements of the employees.
However, it was learnt that most of the points of disagreement between the government and labour unions in the sector had been resolved.
 
 

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