PenCom Reforms Verification Requirements From Retirees, Targets Few Days Payment Clearance

By CLEMENT NWOJI, Abuja

The National Pension Commission (PenCom) has embarked on major reforms which among others will facilitate access to retirement benefits by retirees under the contributory pensions scheme.

One of the major innovations include the exclusion of letter from the retiree’s or ex-employee’s employer from being one of the mandatory documents required for verification of the retiree.

Instead of letter from the employee’s employer, PenCom now replaced it with letter of disengagement, retirement or dismissal of the retiree as document to aid its verification of the retiree.

Also, PenCom urged those with complaints of no remittances of deducted funds from their salaries by either their present or former employers to come forward with their complaints, assuring that PenCom enforcement department will recover such funds even with penalties.

PenCom Head of Corporate Communications Department, Abdulqadir Mohammed Dahiru, who confirmed this to OPTIMUM TIMES in a chat, explained that it was imperative given that some ex-employees of organisations, be it private or government agencies, may have left such organization under unfriendly circumstances.

He said obtaining a letter from such organization will be an uphill task for the ex-staff or retiree and this will lead to frustrating the staff from having access to his or retirement savings fund

According to him, “therefore once you bring the letter of disengagement or retirement, we will accept it and proceed with other verification processes. We’re are targeting duration of few days for affected retiree to access his or her retirement savings funds so far money is available.”

On the recovery of deducted funds from employees salaries but not remitted to the Pension Funds Administrators, he stressed that affected employees should pursue recovery of such funds by forwarding their complaints to PenCom through the public complaints desk which will now be taken up by the enforcement department.

He allayed fears of difficult protocols in accessing retirement benefits and assured retirees of seamless processes and prompt attention.

Mohammed Dahiru advised that workers whether in private or public sector should be very serious with the contributory pension, stressing that planing for retirement begins same day one picks up any job.