Retirees’ Plight: PenCom Vows To Tackle Delay in Funding, Sensitises PDOs on Enrollment Application

By LOVETH AZODO, Lagos

The Acting Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, has assured that the commission is working diligently to implement lasting solutions to the issues of inadequate funding and delays in fund releases for the payment of accrued rights.

Oloworaran gave this assurance during her welcome address at a one-day workshop organized by PenCom to equip Pension Desk Officers (PDOs) with the necessary knowledge of the relevant modules of the Retirees Enrolment Application for the 2024 Online Enrolment Exercise, which is scheduled to commence on October 7, 2024, in Lagos.

Updating the PDOs on the Commission’s efforts to alleviate their challenges, she revealed that concerted efforts by key stakeholders are at an advanced stage.

She added that these efforts are aimed not only at addressing the federal government’s delay in releasing funds but also at clearing all outstanding pension liabilities of the Federal Government under the Contributory Pension Scheme (CPS).

However, she noted that the current delay in fund releases by the Federal Government for the payment of retirees’ accrued rights undermines the core objective of the CPS, which is the timely payment of retirement benefits. “I would like to assure you that this situation will soon be resolved,” she said.

Speaking on the objective of the workshop, she stated that it would focus on addressing gaps observed in previous enrolment exercises and educating PDOs on the procedures for the upcoming enrolment exercise for 2025 prospective retirees.

She emphasized that PDOs play a significant role in achieving the aims of the workshop, hence the Commission’s decision to organize an annual workshop for them.

According to her, PenCom is holding this physical workshop to provide PDOs with hands-on training that will help resolve the operational and technical challenges encountered during the enrolment process.

She also acknowledged that some challenges with the Enrolment Application arise due to downtimes caused by last-minute rushes.

“Let me also state that the Commission is not unaware of the challenges occasionally experienced with the Enrolment Application due to downtimes. It is important to note that these downtimes mostly occur during the last-minute rush by retirees and relevant stakeholders to meet the enrolment deadline.”

Proffering a solution to these challenges, she said, “I am particularly pleased to inform you that the Commission has already engaged a consultant to design and develop a new Enrolment Application that will not only address these issues but also provide users with a more user-friendly and seamless experience during the enrolment process.”

She assured the PDOs that the Commission would continue to collaborate and work closely with them to ensure a successful 2024 Online Enrolment Exercise, scheduled to commence on October 7, 2024, and in subsequent periods.