Abubakar Buba
10 July 2009
Abuja — The National Pension Commission (PenCom) has said that it will soon commence verification and enrolment exercise for Federal Government employees who are due to retire between January 2010 and December 2011.
The verification is part of the implementation process for the issuance of Federal Government Retirement Bond which the commission said is in line with the provisions of Section 12 of the Pension Reform Act.
In a publication on the commission's website, it said that the exercise is intended to physically verify and enrol the retiring employee to ensure that benefits are received promptly.
"It is important to empha-size that only employees who have been verified and enrolled would be issued with the Federal Government Retirement Bond", the website said.
In an update on participation, PenCom's Director General, Mr. Mohammed Kabir Ahmed said that public sector accounts for 1,352,763 of the total count to the contributory pension scheme.
He said that a total of N55.21bn was redeemed and paid into the Retirement Savings Account (RSA) for federal government workers, who retired to December, 2008.
Between 2008 and 2009, 11,304 retiring workers were enrolled and verified for the issuance of retirement bonds.
Be the first to Write a Comment!
Copyright © 2009 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
