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Pencom Begins Nationwide Verification of Prospective Retirees

 

 

The National Pension Commission (Pencom) is billed to commence the verification of prospective retirees in the public service due for retirement in 2019 under the Contributory Pension Scheme (CPS).

The verification exercise is slated for between June 25 and August 17, 2018 in 15 centres across the country.

The acting Director-General, Pencom, Mrs. Aisha Dahir Umar, dropped the hint in Abuja Monday at a pre-retirement workshop for federal government workers due to retire next year under the CPS.

Pencom, Umar said, considered contributors who are about to join the CPS retirees as very important stakeholders, noting that one of the salient objectives of the Pension Reform Act (PRA 2014) was to make pension administration transparent and seamless.

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She stated: “Accordingly, the Commission has established uniform set of rules, regulations and standards for all aspects of pension administration, including payment of retirement benefits to retirees.

“This was achieved in the case of the latter, through the issuance of the regulation on administration of retirement and terminal benefits; regulation on retire life annuity; the frameworks on pension enhancement & programmed withdrawals; and the circular on voluntary contributions, amongst others.

“As part of our annual regulatory activities, the Commission has finalised arrangements to commence the verification of prospective retirees who would be retiring in year 2019 from the public service. The verification exercise is scheduled to be undertaken from 25th June to 17 August, 2018 in 15 centres across the country.”

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The impending exercise, Umar stated, underscored the need to undertake adequate sensitisation and public enlightenment in order to prepare prospective retirees on the steps to take towards a hitch-free retirement life.

At the workshop, papers were presented on three topics, including ‘Enrolment Exercise and Documentation Requirements’, ‘Accessing Retirement and Terminal Benefits under the CPS’ and ‘Life after Retirement’.

She expressed the hope that the workshop would educate participants on what they need to know on documentation requirements, payment of retirement benefits and life after retirement.

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She said Pencom was looking forward to fruitful deliberations at the workshop tailored towards addressing the challenges that prospective retirees might face as they enter retirement life under the CPS.

Umar further urged the participants to make suggestions during and after the workshops, “about issues that may further help to make retirement life more comfortable to you and future retirees”.

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