News

April 11, 2023

ASSOPEP debunks illicit activities on pension 

Pencom, Pension

By Olayinka Ajayi

The Association of Pension Desk Practitioners of Nigeria, ASSOPEP, has debunked allegation of illicit practice alleged by Pension Commission , PenCom.

PenCom who recently advised workers, retirees, pension desk officers to disassociate from ASSOPEP said it has reported the illicit activities of ASSOPEP to law enforcement agencies for appropriate action.

Reacting to the allegation, ASSOPEP in a statement noted that the association has never engaged in any illicit activities as alleged by PenCom.

According to the statement “ASSOPEP has at no time claimed to be an affiliate or representative of   PENCOM or any PFA or PFC at any time.

“We have never collected money from anyone with a promise to assist him or her to recover their fund in the Pension system.

“We rather engage in the  training and retraining of Pension Desk practitioners and other employees to have adequate knowledge of Pension, retirement planning and entrepreneurship.

“In the course of our training, we have listened to challenges contributors face such as unremitted contribution by Employer to PFAs, and inability to access their Pension after retirement due to issues of documentation and advise accordingly  

“We also at every point in time during our training interactions reiterate that there’s no alternative to the PRA 2004 and 2014 as amended when questions are asked as to why a retiree cannot be paid in full for all his/her contributions.

“We have also noted that most members of the public, especially the informal sector, lack adequate knowledge of Pension and retirement planning, and we have encouraged them to enrol in the contributory pension scheme through our regular advocacy.

“We do not claim of resolving pension issues and assisting retirees in securing their retirement benefits rather we state that we upskill or train employees in pension matters and thereby with adequate pension knowledge they are less likely to commit mistakes that will delay the payment of their pension. This is based on interaction with such employees and discovering that most causes of the delay in their pension payment is based on ignorance.

“Pencom or any PFA have not received any letter from ASSOPEP requesting for payment of any pension contributor neither has any contributor paid us to do so.

“We have never claimed to be consulting with or for any Pension Fund Administrators (PFAs) and PenCom

“We appreciate lots of favourable testimony from those who have participated in our training and public advocacy.”