PenCom Wins Outstanding Regulator Of The Year 2018

The National Pension Commission (PenCom) has bagged the 2018 Outstanding Regulator of the Year award by the Independent Newspapers Limited, publishers of Daily Independent Newspapers.

Recall that the commission under the leadership of Ag. Director General, Mrs. Aisha Dahir-Umar, experienced innovations such as Pension Enhancement for retirees under the Programmed Withdrawal and the Multi-Fund Structure amongst others.

Advertisement

The award received on behalf of the Commission by the Secretary /Legal Adviser, Muhammad Sani Muhammed, Head, Corporate Communications Department, Peter Aghahowa and Principal Manager, South West Zonal Office, Akinsola Adeseun, was earned due to the PenCom’s relentless pursuit of excellence in implementing the Contributory Pension Scheme (CPS) and moving pension administration to new heights.

Reports, however, show that Public confidence and acceptability of the CPS has soared and membership has grown to 8.41 million contributors as at December 2018.

The scheme has accumulated up to N8.50 trillion as at November 2018 and a total of 260,808 retirees are receiving monthly pensions regularly and since the inception of the scheme, there has never been any reported case of fraud, which is largely due to the regulatory measures applied by the commission.

The Commission is poised to bring the informal sector into the Contributory Pension Scheme, through the Micro Pension Plan.

Leave a comment

Advertisement