Nigeria: All Retirees Must Get Benefits, Says PenCom Boss

25 June 2019

Abuja — The acting Director General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, yesterday reassured Nigerians that all persons who had worked in either in the public service of the federation, Federal Capital Territory (FCT), states and local governments as well as the private sector will receive their retirement benefits as and when due, in line with the Pension Reform Act (PRA 2014).

She said this in Abuja, at the opening ceremony of the pre-retirement workshop for federal government retirees (due to retire in 2020) under the Contributory Pension Scheme (CPS),

She said the commission has on its part, finalised arrangements to commence the verification of prospective retirees who would be retiring in 2020 from the public service of the federation.

According to her, the verification exercise has been scheduled to hold from July 1 to August 2 across 15 centres nationwide.

She said the forthcoming exercise necessitated the need to undertake adequate sensitisation and public enlightenment in order to prepare prospective retirees on the steps to take towards a hitch free retirement life.

In the past, lack of adequate preparation and education had made similar verification exercises a nightmare for pensioners- some even losing their lives in the process.

But, the acting DG insisted that it considers all contributors who are about to join the CPS retirees as, "very important stakeholders" who need useful information to make the verification exercise worthwhile.

According to her, participants would be lectured on topics such as enrolment exercise and documentation requirements, accessing retirement under the CPS and life in retirement.

She said: "It is our hope that the workshop would inform participants on what they need to know on documentation requirements, payment of retirement benefits and best ways to enjoy life in retirement.

"We are therefore, looking forward to fruitful deliberations at this workshop and feel free to make suggestions during and after these workshops, about issues that may further help to make retirement life more comfortable to you and future retirees."

Total Pension Fund Asset under management stood at N9.03 trillion as at the first quarter of the year (Q1 2019), compared to N8.63 trillion in Q4 2018, according to the National Bureau of Statistics (NBS).

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