PenCom Set For Verification Of 2019 Public Service Prospective Retirees Nationwide

         Mrs. Aisha Dahir-Umah

The National Pension Commission (PenCom) has concluded arrangements to commence verification of prospective retirees exiting in year 2019 from the public service under the Contributory Pension Scheme (CPS).

It said the verification exercise which will be conducted in 15 centres throughout the federation, will commence from 25th June, to 17 August, 2018.

The PenCom Acting Director, Mrs Aisha Dahir-Umah, made this disclosure while making opening remarks at a pre-retirement sensitization Workshop organized for intending retirees in 2019 under the Contributory Pension Scheme (CPS).

She noted that their presence at the workshop heightens the confidence they  reposed in PenCom as the Regulator of pensions in Nigeria.

The PenCom Director General, who was represented by Mr. Usman Malami Bunza, an Assistant General Manager (Benefits and Insurance Department), recall that one of the salient objectives of the Pension Reform Act (PRA 2014) is to make pension administration transparent and seamless.

Accordingly, she said 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 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.

“As part of our annual regulatory activities, the Commission has finalised arrangements to commence the verification of prospective retirees who would be retiring in year 2019 from the public service.

The verification exercise is scheduled to be undertaken from 25th June, to 17 August, 2018 in 15 centers across the country”, she said.

Further, she explained 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.

As papers  presented included Enrolment Exercise and Documentation Requirements, Accessing Retirement and Terminal Benefits under the CPS and Life after Retirement, Mrs Dahir-Umah expressed hope that the Workshop would educate participants on what they need to know on documentation requirements, payment of retirement benefits and life after retirement.