The National Pension Commission (PenCom) on Monday stated that the pension scheme is the most regulated financial institution in Nigeria.
This was disclosed by the commission’s Head, Corporate Communications, Mr. Peter Aghahowa, at the 2019 Verification Enrolment Exercise for Employees of Federal Government Treasury Funded Ministries, Departments and Agencies which took place at the National Centre for Women Development, CBD, in Abuja.
In an exclusive chat with CSONews24, at the event which was the 2nd edition of the commission’s exercise, Mr. Aghahowa stated that due to the rigours of the pension scheme, constant innovations are being enforced to enhance the efficient delivery by relevant authorities.
He said the annual exercise meant for proper documentation of prospective retirees, is targeted at the 2020 batch of MDAs.
Aghahowa also noted that PENCOM is dedicated to the improvement of pensioners across the country, as he assured that all pensioners are entitled to their full benefits from their contributions deducted from salaries into savings for retirement.
According to him, the commission had prior to the exercise, embarked on a preretirement workshop/training programmes for the prospective retirees as part of its effort to ease retirement and make it an enjoyable experience for the employees.
He however lamented that the commission inherited backlog of pension irregularities which had been managed by PTAD, as he also complained about the delay in remittances of employees savings to PENCOM by their employers.
Applauding the efforts of President Buhari’s administration towards pension scheme in Nigeria, he reiterated the commission’s stands for transparency and dedication towards bettering the lives of Nigerins after service.
“The pension industry is the most regulated financial institution in the finance sector because it has been constantly upgraded to standards that would better off the living conditions of government employees after service.
“We earlier embarked on a preretirement workshop/training all over the Federation as part of educating the retirees in skills acquisition.
“I want to assure you that PenCom is dedicated to the welfare of pensioners because it has embraced growth and therefore ready to make everything easy. he said.
Some of the prospective retirees who spoke to our correspondent expressed gratitude to both the management of PENCOM and the FG for the introduction of skills acquisition into the scheme, noting that the documentation process was rapid and hitch free.
Mr. Obi Nwebili, a prospective retiree of NIMET, stated that, ‘the process has been free and the commission has performed tremendously well.
They are even going to train us in different skills, so we are very happy and we thank the federal government for this kind gesture. He added.