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PenCom chief assures retirees on benefits

The Chairman of National Pension Commission (PenCom), Chief Oluwole Adeosun, said the commission would pay retirees benefits as at when due. Adeosun said this in his statement published in the organisation’s latest report made available to newsmen in Abuja on Tuesday.

The report quoted the chairman as saying that the commission would manage the pension funds effectively to secure the future of Nigeria workers after retirement.

It stressed that the commission would enhance the economic growth of the nations by generating a pool of long term funds for investment that would improve the real sector and stabilise the economy.

“Pencom has been working within the confine of the law with the view to ensuring that all those who worked and retired get their benefits as at when due. The commission is focusing on five high priority areas: To enhance corporate governance among pension operators, ensuing compliance with the provisions of Pension Reform Act (PRA) 2004. To develop accounting standards for the pension industry, securing pension fund investments by giving the downturn in the Nigeria capital market.

“To develop a corporate plan to reposition PenCom in meeting the challenges facing the industry”, the report Adeosun as saying. Adeosun was quoted as saying that the commission would ensure safety, sound management and growth of pension assets, regardless of the global financial meltdown that affected pension funds.


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