By David Akinmola
The National Pension Commission (PenCom) has expressed its commitment to retirees implementing solutions to the issues of inadequate funding and delays in payment of accrued rights in the country.
The commission gave the assurance at a workshop organised by the commission to equip Pension Desk Officers (PDOs) with basic knowledge of the significant modules of the retiree’s enrolment application for the 2024 online enrolment exercise, scheduled to commence on October 7, 2024, in Lagos.
Especially speaking at the workshop, held in Lagos, the Acting Director of General PenCom, Ms. Omolola Oloworaran, said that the commission is working diligently to address any challenges related to retirees nationwide.
According to her, updating the PDOs on the commission is an effort to improve pensioner’s challenges and this also requires concentrated efforts by the key industry stakeholders to collaborate.
Speaking on the objective of the seminar, stated that it would spotlight the challenges observed in previous enrolment exercises and educate PDOs on the better procedures for the upcoming enrolment exercise for 2025 prospective retirees.
She stressed that PDOs play a significant role in achieving the aims of the workshop, hence the Commission’s decision to organise 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 stated that the commission is unaware of the challenges occasionally experienced with the enrollment application due to downtimes.
However, it is vital 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 challenges 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.
Speaking also about the commission commitment to retirees in the country, the Commissioner Technical, Anyim Nyerere at the event, said the commission, under the new leadership, is committed to ensuring that retirees, from both the public and private sectors, receive their retirement benefits as and when due, he added that the commission shall focus on 26 States with CPS or CDBS laws, but are yet to commence implementation.
“Our focus will be to constructively engage these States in a sustained manner and work towards expanding the coverage of CPS at the sub-national level.
We will also intensify efforts with relevant State Government Agencies to resolve the backlog in accrued rights payments to CPS retirees. In addition, we are working to ensure that pensioners under the CPS and other pension arrangements benefit from pension increments provided for in the Constitution of the Federal Republic of Nigeria, 1999 (as amended),” Nyerere added.
As part of the strategy towards pension reforms in a greater number of States, she encouraged some flexibility in the adoption of Contributory Pension arrangements in a manner that suits each state.
According to him, the commission proposed that states adopt the CPS for new employees and/or those employed for 10 years or less as this would substantially reduce the burden of accrued pension rights payable upon retirement under the CPS.
