The Director-General of the National Pension Commission (PenCom), Mrs Chinelo Anohu-Amazu, said the World Pension Summit Africa Special that will kick off in Abuja next week will deepen the discussion around ensuring that pension funds were invested in the real sector for visible and measurable impact on the economy, while also boosting retirement benefits.
Anohu-Amazu said she was excited by the opportunities the world summit would present, including providing solutions to some of Africa’s most pressing pension investment challenges.
Global experts on pension innovation, leaders of thought and key practitioners are expected in Abuja between September 27 and 28 to brainstorm on key elements of developing and structuring a sustainable pension system for Nigeria and other African nations.
With the theme “Pension Innovations: The African Perspective”, the summit — as designed by the PenCom in partnership with the Pension and Investments/World Pension Summit, Amsterdam, will focus on innovations in the pension industry in Nigeria and Africa.
The World Pension Summit “Africa Special” is the platform to exchange knowhow, supporting professionals in social security and in all aspects of pensions to gain the expertise. It is also about taking the pragmatic essential steps to professionalize pensions and make them ‘future proof.’
The PenCom boss said the summit, which is well-packaged to attract professionals around the world, is aimed at exchanging expertise among all pension professionals in Africa and to stimulate pension market developments and pension innovation.
In particular, she said this year’s edition of the Summit would focus on key areas and experiences on relevant topics and developments such as: pension innovations; the dynamics of pension investment (ALM, new asset classes, infrastructure investments); ESG for pension funds & impact investing; financial inclusion covering financial literacy, micro pensions & social security; the impact of new technology on communication; actuarial valuation and their impact on benefits, policy & governance.
In order to stimulate and encourage scheme owners to work on professionalizing retirement practice in Africa, the summit has also planned to host the second edition of the Africa Pension Awards.
‘’The awards ceremony is an integral part of the Summit. It is the ultimate reward for excellence, and a huge stimulus to ensure that Africa’s pensions industry remains innovative”, the organisers said.
The inaugural Awards in 2015 saw RBA Kenya, NAMFISA Namibia and PenCom Nigeria being honoured for their various roles in the development of the sector on the continent. And the 2016 Awards is aimed to recognize innovations in risk management and communication strategy for improved customer service delivery, socio-economic impact of contributory pension systems, extension of contributory pension coverage and best corporate governance practices.