Pension

There’s Improvement In pension payment and remittance-Says PenCom

L-R: Head, Contributions Bond Redemption Department, National Pension Commission, Lona Loyinmi; Head, Corporate Communications, Peter Aghahowa and Member of Integrated Payroll and Personnel Information System Office, Asman Mustapha at the event in Lagos.

 

BY NKECHI NAECHE——The National Pension Commission (PenCom) said there has been improvements in area of pension payment and monthly remittances.

Director and Head, Corporate Communications Department, Peter Aghahowa, disclosed this in Lagos during quarterly Pension Desk Officers’ Workshop For Treasury Funded Ministries Departments and Agencies organized by the Commission in Lagos.

Member of Contributions Bond Redemption Department, PenCom Amina Hassan; Emeka Onuora, Corporate Communications Department; Member of Contributions Bond Redemption Department, Patience Uzoma at the event.

Some Participants at the workshop

Explaining the delays in pension payment and non remittance of monthly contributions, he said: “With regards to remittance. you know that the contributions are done monthly. Yes there are challenges but if you look at where we are coming from to where we are now, you will see that there has been considerable improvements. And this is one of the reasons we have this event with the MDAs.

Cross section of participates at the workshop and some Executives of National Pension Commission  at the event.

“The government remittances are done mostly by PenCom while pension contributions are deducted from the source and these monies are sent to Central Bank of Nigeria (CBN). But the way it works for us to effectively remit the contributions is that we must get the workers nominal role. We have monies in our accounts that belong to individuals. We want to know who has the contributions and so if we don’t get the nominal roles, we are not able to remit the contributions to the individuals they belong to. So there has to be a very good synergy among the agencies that work with the contributors. For example, PenCom itself, the different agencies and the CBN where the monies are kept,” he said.
He said  that at the end of the workshop, the commission expects the PDOs majorly to be better informed, stressing that when they are better informed, they will impact the knowledge on the employees in their various institutions and that this would help to ensure better understanding of the Scheme.

Earlier, Head, Contributions Bond Redemption Department, PenCom, Lona Loyinmi, while declaring the workshop open, said the event was organised to educate the PDOs and get first hand information from them on areas of challenges in carrying out their duties.

He assured  that the commission has taken the bold step to tackle issues affecting the progress of contributory Scheme in Federal Government Ministries, Departments and Agencies (MDAs).

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