The National Pension Commission, PenCom, has commended the series of reforms in the sector, which has raised accumulations from contributors to N8 trillion, thus giving retirees brighter hopes. It has also attributed the huge accumulation and other successes achieved in the last 14 years of implementation of the contributory pension scheme, CPS, to contributors.
Meanwhile, regulators and stakeholders in the pension industry have again warned employers in the habit of not remitting pension deductions of the wrath of the law, as it plans raise its searchlight and asks workers to also speak up. Aisha Dahir-Umar, acting director-general, PenCom, stated this at the pre-retirement workshop for prospective retirees in the contributory pension commission in Lagos.
Dahir-Umar urged pension contributors across the country to contribute positively towards the growth of the pension reform programme. She noted that the workshop is tailored towards addressing the challenges that prospective retirees might face as they enter retirement life under the CPS.
However, she urged the would-be retirees to feel free to make suggestions during and after the workshops, about issues that may further help to make retirement life more comfortable to them and other future retirees.
“The achievements recorded by the commission since the implementation of the scheme would not have been possible without the support and understanding of all stakeholders, especially our contributors, who are about to retire. I therefore urged Nigerians to contribute positively towards the success of the Pension Reform Programme,” she said.