By Cynthia Alo
Managing Director and Chief Executive Officer, IEI-Anchor Pension Managers Limited, Mr. Glory Etaduovie has said that the ongoing data recapturing exercise of pension contributors and retirees by the Pension Fund Administrators, PFAs, nationwide will protect pension clients against cyber crime and other fraudulent intents and activities.
Etaduovie stated this in a paper titled, ‘National Data Base Harmonisation and Pension Data Recapture’, stating that since last year, the National Pension Commission, PenCom has been upbeat about Data recapture of its existing clients and the streamline of future contributors registrations in a move to have accurate database of its clients.
According to him, the exercise will get pension operators prepared for more international best business practices, standardization and acceptability globally.
“A correct database is thus inevitable. This has to do with collection of relevant individual clear and concise personal verifiable personal details for efficient availability and ready use if and when necessary. It would be a sad and embarrassing thing for a retiree and the pension industry to find out that through a stolen identity, there was no more funds left in the RSA account.”