Aisha Dahir-Umar, DG PenCom
BY NKECHI NAECHE-ESEZOBOR–The Director General of National Pension Commission (PenCom), Aisha Dahir-Umar, said over N13 trillion pension assets has been invested in various aspects of the Nigerian economy.
She disclosed this during a two days retreat on review of the Pension Reform Act 2014 held in Abuja last week.
According to her the PRA 2014 codified one of the most important socioeconomic reform initiatives of the Federal Government.
She noted that the review is a corollary to some implementation challenges
encountered with certain sections of the Act not long after its enactment in july 2014.
This is in addition to persistent calls from stakeholders for the amendment of
some sections of the Act, which resulted in several legislative initiatives through the sponsorship of Bills for amendment of the PRA 2014 by the National Assembly.
The retreat aimed to identify salient issues to be reviewed in the PRA 2014 as a prelude to advancing legislative action on the Bill.
It is expected that the National Assembly would subsequently organize a public hearing in order to provide an avenue for stakeholders to formally make input into the proposed
amendments.
The PRA 2014 was enacted following a review of the initial Pension Reform Act of 2004, which introduced legal and institutional frameworks of the Contributory Pension Scheme (CPS) and established PenCom to regulate and supervise all pension matters in Nigeria.
