FG distributes retirement benefit letters to PHCN workers

August 9, 2012 by Okechukwu Nnodim


The Federal Government has commenced the distribution of retirement benefit letters to employees of the Power Holding Company of Nigeria.

The Federal Ministry of Power said the exercise, which started on Wednesday, was in line with its privatisation process.

The ministry, in a statement by the Special Adviser on Media to the Minister of Power, Mr. Ogbuagu Anikwe, said each letter was personally signed by the Managing Director/Chief Executive, PHCN, Mr. Hussein Labo.

It said the letters stipulated their pension and gratuity, among other benefits.

It said, “The management of the PHCN this morning (Wednesday) began distributing letters to each PHCN staff member, advising him or her on the retirement benefits, in view of the impending privatisation of 17 out of the 18 PHCN successor companies.

“The workers were to study the contents of every form and look out for critical issues like possible computational errors and then return them not later than August 10, 2012, with appropriate remarks to the PHCN management.”

The ministry said the computations showed that some PHCN executives would get as much as N38m as retirement benefit.

It argued that this figure contrasted with the N2m, which some union officials had claimed would be the maximum amount any PHCN employee would receive on retirement.

The statement added that the entire severance benefit, calculated at N80bn, would come from the government treasury.

This, it said, was because the PHCN management did not comply with the Pension Reform Act, which came into force on July 1, 2004, and which required every worker to contribute 7.5 per cent of his or her basic salary towards pension.

Meanwhile, the ministry has noted that the leadership of the National Union of Electricity Employees prevented some workers of the power firm from accepting the letters.

It said, “With letters of advice on retirement benefits now being distributed to each of the employees of the 17 PHCN successor companies and any Transmission Company of Nigeria staff members opting to retire now, the NUEE leadership has used force to prevent the employees from receiving the letters and knowing their true contents.”


http://www.punchng.com/business/business-economy/fg-distributes-retirement-benefit-letters-to-phcn-workers/

Well, bye bye saboteurs

My plasma tv and refrigerator fried because of their incompetency. Do I also get a package to cover them?

Seriously!!! This is unbelievable! you mean say all their prayers don work?:

https://www.nairaland.com/872548/phcn-prayers-against-progress

For those ones that joined the government to milk Nigerians because they "worked for PHCN", una dooooo!!! How does it feel to be on the other side?

omanzo02: Well, bye bye saboteurs

lol those people worse pass saboteurs.. They are too corrupt. I read dis morning that they collect money from gen importers to sabotage electricity for people to buy more gen..

Those animalistic, embellestic abdominiral messicuretella *coughs i need a glass of water*

why 17 out of 18?what happens to the one remaining one?as for the phcn guys,i wish i had pity but what you guys have done to me would not allow me to.

amosy007:
lol those people worse pass saboteurs.. They are too corrupt. I read dis morning that they collect money from gen importers to sabotage electricity for people to buy more gen..

Those animalistic, embellestic abdominiral messicuretella *coughs i need a glass of water*

I beg easy o, nor kill us with english ooo

Most Nigerian business men are just wicked and empty headed, if the generator sellers are smart they would covert their businesses into other electrical items to benefit from the improving power situation.

^^
on point
most of em (naija buisnessmen) dnt look 4 new ideas, they prefer to stay with d status quo and they forget the world is changing.. And once things aint moving the way it should they blame it on sum witches in their village.. Same thing with those gen sellers

GEJ is working! Enemies are not smiling!

Jenams: GEJ is working! Enemies are not smiling!

They are not only smiling but grumbling even on nairaland

Dont know if we wont be able to sing their very common Anthem again...

UP NEPA!!

Good riddance to bad rubbish.

I hope the firms that will take over the 17 PHCN successor companies will not behave like the MTNs of the Telecom sector. ...wait!Is any of them from south africa?

Number of the unemployed are gonna .......... Atichu (sneezes)

^^
trust me their must be South African firm!

Guess the companies that take over 'll recruit in the near future or how are they going to replace the sacked workers?

amosy007:
lol those people worse pass saboteurs.. They are too corrupt. I read dis morning that they collect money from gen importers to sabotage electricity for people to buy more gen..

Those animalistic, embellestic abdominiral messicuretella *coughs i need a glass of water*

Finally, I want them out so Private firms can take over electricity sector. The past 3 days I havent bought fuel for generator, if it continues like this for another 6 months I will donate my generator to Buhari.

Good riddance to bad rubbish

emmysenior: Number of the unemployed are gonna .......... Atichu (sneezes)

increase? If them phcn useless their severance benefits on frivilous activities. Then the job market will surely increase. Let them use their money to create jobs.

hisblud: increase? If them phcn useless their severance benefits on frivilous activities. Then the job market will surely increase. Let them use their money to create jobs.

Many of them will find their way back into the Private companies that will run the sector. After all they have many years of "cut and connect" syndrome

you guys seem not to be getting the point. Its rather a blessing to them; they will collect this benefit an most of them will still be absolved by the new owners

N36million whaaaaaaaaaaaat to who and by who....faaaaaaaaaaaaaaaaaints!!

Billyonaire: Many of them will find their way back into the Private companies that will run the sector. After all they have many years of "cut and connect" syndrome

bros, 90% of those guys cannot survive in private entities. i have said this to PHCN staff in my areas times without number.

And all we need is just competition in the industry, people will sit tight of course.

Blackout must go!

Billyonaire: Finally, I want them out so Private firms can take over electricity sector. The past 3 days I havent bought fuel for generator, if it continues like this for another 6 months I will donate my generator to Buhari.

haahhahahahhahahahahhahaha yes ooo

you can say that aqain...me too..we having full and uninterupted light in ph..up GEJ..
The man is doin and could do well.just that 'some' retarded bastards in the north wanna be his spoiler

Meanwhile, the ministry has noted that the
leadership of the National Union of Electricity
Employees prevented some workers of the
power firm from accepting the letters. It said, “With letters of advice on retirement
benefits now being distributed to each of the
employees of the 17 PHCN successor
companies and any Transmission Company of
Nigeria staff members opting to retire now,
the NUEE leadership has used force to prevent the employees from receiving the letters and
knowing their true contents.”

why are the leaders of the NUEE trying to cause wahala when it is stated here

“The workers were to study the contents of
every form and look out for critical issues like
possible computational errors and then return
them not later than August 10, 2012, with
appropriate remarks to the PHCN management.”

Mos_D: you guys seem not to be getting the point. Its rather a blessing to them; they will collect this benefit an most of them will still be absolved by the new owners

you qot a point there....

Donalð Genes:
haahhahahahhahahahahhahaha yes ooo

you can say that aqain...me too..we having full and uninterupted light in ph..up GEJ..
The man is doin and could do well.just that 'some' retarded bastards in the north wanna be his spoiler

Are you serious, so PH is already uninterrupted. Wow....

Gej need time

Shame they didnt get court letters, demanding they are been sued for their years of inefficiency like their employee.
Anyways, good riddance to rubbish