August 7, 2023

NIPSS trains stakeholders on pension administation, service delivery

PenCom Pension

By Marie-Therese Nanlong

Jos— The Centre for Financial Economics, CFE of the National Institute for Policy and Strategic Studies, NIPSS, Kuru, Jos, Plateau State has empowered stakeholders on Strategic Pension Fund Administration Course for retirement savings account holders to ensure a better understanding of the pension fund administration in Nigeria.  

The week-long 2023 training programme was attended by pension desk officers from different institutions as well as other stakeholders from the National Pension Commission, PenCom, the Pension Fund Administrators, PFAs and the Pension Fund Custodians, PFCs.  

Addressing the participants, the Head and Chief Operating Officer of the CFE, Dr. Nathaniel Urama said the event was to “bridge the communication gap among the stakeholders and brainstorm on how to ensure effective and efficient pension fund administration in Nigeria.”

He stated that the course was to ensure a better society in line with NIPSS’ vision of being the apex centre for policy, research and reflection for a better Nigeria and human society.

In his remarks, the Director General of NIPSS, Professor Ayo Omotayo represented by the Secretary/Director of Administration, retired Brig.-Gen. Chukwuemeka Udaya, mni, drew the attention of the participants to the diverse courses organized by the National Institute for human capital  development and urged the participants   to “be steadfast in attending training programmes” as “learning is a continuous process for those who want to remain relevant in society.”  

Also speaking, a participant, Mrs. Lucy Abah from NNPC Pension Fund Limited, expressed satisfaction over “the orderly conduct of the workshop and the bulk of priceless knowledge gained from the training,” and promised to step down the knowledge gained to those who could not attend the workshop.  

She urged other institutions to sponsor their staff in the programme to enhance their understanding of the pension fund administration in the country.

However, key challenges facing the pension fund administration were discussed and recommendations for improved service delivery were given.