CPS: PenCom Sensitize Contributors On Retirement

***PenCom To Commence Verification Of 2019 Prospective Retirees June 25

L-R:  Managing Partner, Averti Professional Managers, Mrs Inyang Sani Orungbe; Director and Head, Corporate Communications Department, National Pension Commission, Peter Aghahowa and Head Benefits & Insurance Mrs Ekanem Aikhomu at the event.


BY NKECHI NAECHE—–Poised to better life of public service retirees, the National Pension Commission (PenCom) on Monday held its first 2018 Pre-Retirement Workshop aimed at sensitizing intending retirees under the Contributory Pension Scheme (CPS).

Speaking at the event, the Acting Director General, Mrs. Aisha Dahir-Umar said the workshop will educate participants on what they need to know on documentation requirements, payment of retirement benefits and life after retirement.

The DG who was represented by the head Benefits and Insurance PenCom, Mrs. Ekanem Aikhomu, said the workshop will help to address the challenges that prospective retirees might face as they enter retirement life under the CPS.

She also disclosed that the commission has finalised arrangements to commence the verification of prospective retirees who would be retiring in year 2019 from the public service from June 25th to 17th August, 2018.

According to her the verification exercise is scheduled to be undertaken in 15 centers across the country.

She noted that the impending exercise, therefore, necessitated the need to undertake adequate sensitization and public enlightenment in order to prepare prospective retirees on the steps to take towards a hitch free retirement life.

She further said that the salient objectives of the Pension Reform Act (PRA 2014) is to make pension administration transparent and seamless.

She explained that the Commission has established uniform set of rules, regulations and standards for all aspects of pension administration, including payment of retirement benefits to retirees.

This she said was achieved in the case of the latter, through issuance the Regulation on Administration of Retirement and Terminal Benefits; Regulation on Retire Life Annuity; the Frameworks on Pension Enhancement & Programmed Withdrawals; and the Circular on Voluntary Contributions amongst others.

She noted that the “achievements recorded by the Commission in the last fourteen years would not have been possible without the support and understanding of all stakeholders, especially you, our esteemed contributors who are about to retiree.”

She however applauded the contributors for the trust they impose on the commission in the past 14, years, while assuring that the commission will live up to its expectations as demanded by law.

The workshop also featured paper presentations on three topics. These are Enrolment Exercise and Documentation Requirements, Accessing Retirement and Terminal Benefits under the CPS and Life after Retirement. It is our hope that the Workshop would educate participants on what they need to know on documentation requirements, payment of retirement benefits and life after retirement.




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