By Victor Ahiuma-Young

The National Pension Commission, PenCom, has alerted the public following a surge in fraudulent activities targeting retirees under the Contributory Pension Scheme, CPS.

According to the Commission, criminal elements have devised new tactics to lure unsuspecting retirees into parting with their money under the guise of fast-tracking pension payments.

PenCom revealed that the fraudsters often introduce themselves as PenCom staff and make direct phone calls or send messages requesting that retirees deposit money into personal bank accounts. 

These impostors promise accelerated access to pension funds—a claim PenCom describes as entirely false and dangerous.

PenCom stressed that no member of its staff is authorized to demand or receive payment from retirees for any service. 

All legitimate pension payments, the Commission emphasized, are handled exclusively through Pension Fund Administrators, PFAs, and deposited directly into Retirement Savings Accounts, RSAs.

The Commission in a statement titled “Beware of scammers!, among others, said  “These fraudsters, posing as PenCom staff, request that money be paid into personal accounts in order to fast-track pension payments. PenCom reiterates that its staff will never request any form of gratification to facilitate payments to retirees.

“All payments due to retirees under the Contributory Pension Scheme, CPS, are made strictly into individual Retirement Savings Accounts, RSAs, and processed by the Pension Fund Administrators, PFAs. 

“The public is therefore advised to remain cautious and seek clarification directly from PenCom where necessary.”

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