Why PenCom Is Still Calling The Shots
Based on statistic, of Nigeria’s population of over 170 million, only about 30% are well informed of the role that the National Pension Commission (PenCom) has been playing in sustaining Nigerian economy. About 20% has an average knowledge of the Commission’s relevance, while the rest of the populace shares between having bellow average knowledge, and having insufficient knowledge to grapple with.
But for efforts at the Commission in carrying out various enlightenment programmes, including the youth Forum by a group of journalists, which guides participants on relevant questions on PenCom and other publications, the rate would have been worse.
For more than 10 years of its existence and still piloting the affairs of retirees, questions still hover around some aspects of the pension fund institution.
According to the PenCom Act 2, 2004, which came into reality in 2005, and as amended upto 2014, there shall be established for any employment in the Federal Republic of Nigeria, a Contributory Pension Scheme on coming into existence of the Pension Reform the Act.
The Act repeals the Pension Reform Act Now of 1979 for payment of retirement benefits of employees then solely handled by NSTIF. to whom the Scheme applies under this Act.
Dear Editor, Who Are the Pension Operators? This will be trterated next time.
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