Reps reject 25%, insist on 7.5% pension for PHCN workers

As the Federal Government and labour representatives move to resume the deadlocked talks with workers of the Power Holding Company of Nigeria over their factitious pension fund, there are indications of fresh obstacles to successful negotiations.

Essentially, the House of Representatives Committee on Power is not in favour of giving a special treatment to the embattled PHCN workers in the ongoing privatisation exercise.

Investigations showed that members of the House Committee Chairman on Power, led by Patrick Ikhariale, want the issue of PHCN workers resolved in accordance with the provisions of the 2004 Pension Act, which makes the employee to contribute 7.5 percent of his salary, and an equal amount from the employer.