Pension School: PenCom, A Social Catalyst To Nigeria’s Devt, Says DG

The National Pension Commission (PenCom) has said it is one of the undisputed social catalysts and propellers of Nigeria’s economic development.

The commission disclosed this during the commissioning of the first ever pension school in Abuja.

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Speaking at the commissioning, the Acting Director General of PenCom, Aisha Dahir-Umar, registered its best wishes to Abuja School of Pension and Retirement Planning as it commences formal operations as a unique educational institution in Nigeria.

In a bid to create new opportunity for quality academic training for prospective manpower, PenCom in a two years partnership with the National Board for Technical Education (NBTE) and other experts brought the institution to light to develop a nationally approved curriculum for the study of pensions and retirement benefits matters in Nigeria.

However, speaking on PenCom’s input to the economy Dahir-Umar said the pension industry was only able to attain this great height with the driving force of its guiding principles which includes professionalism, research, innovation, customer satisfaction and the pursuit of excellence in all ramifications.

“It is gladdening to note that this partnership has produced a National Curricula for National Diploma (ND) and Higher National Diploma (HND) in Pension Administration and Management, both of which went through rigorous process of review and approval of the NBTE.

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She further stated that the school will however bring a boost to Nigerians economy as that have been one of the commissions focus since the launch of the 2004 pension reform.

“As you are aware, discourse on the subject of pensions has, in recent years, assumed global prominence due to its importance as a strategic component of social security.

“For us in Nigeria, the turning point of this discourse was the pension reform of 2004, which ushered in a new vibrant pension industry that is strictly regulated and administered by tested professionals. Today, we have an industry with assets under management worth about N8.91 trillion as at February 2019 and registered membership of about 8.5 million as at the same period.

“Indeed, the pension industry has become one of the undisputed social catalysts and propellers of Nigeria’s economic development,” she said.

Read Full Statement:

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Goodwill Message by Aisha Dahir-Umar, the Acting Director General, National Pension Commission

Protocols.

  1. I am highly honored to be invited to give a Goodwill Message at today’s occasion of the formal commissioning of the Abuja School of Pension and Retirement Planning, which is the first of its kind in Nigeria.
  2. As you are aware, discourse on the subject of pensions has, in recent years, assumed global prominence due to its importance as a strategic component of social security. For us in Nigeria, the turning point of this discourse was the pension reform of 2004, which ushered in a new vibrant pension industry, that is strictly regulated and administered by tested professionals. Today, we have an industry with assets under management worth about N8.91 trillion as at February 2019 and registered membership of about 8.5 million as at the same period. Indeed, the pension industry has become one of the undisputed social catalysts and propellers of Nigeria’s economic development.
  3. Ladies and gentlemen, as you are aware, the modern economy is knowledge based. The Nigerian pension industry was, therefore, able to attain these enviable feats within a relatively short period, substantially because it is knowledge driven. Our industry guiding principles include professionalism, research, innovation, customer satisfaction and the pursuit of excellence in all ramifications. Furthermore, we have come to recognize that these principles can only be consolidated and sustained through continuous education and learning.
  4. It is against the backdrop of this imperative that the National Pension Commission (PenCom), within the last two years, felt compelled to partner with the NBTE, the Abuja School of Pension and Retirement Planning and other experts to develop a nationally approved curriculum for the study of pensions and retirement benefits matters in Nigeria.
  5. It is, therefore, gladdening to note that this partnership has produced a National Curricula for National Diploma (ND) and Higher National Diploma (HND) in Pension Administration and Management, both of which went through rigorous process of review and approval of the the NBTE.
  6. Today’s commissioning of Abuja School of Pension and Retirement Planning, therefore, presents a new opportunity for quality academic training for prospective manpower of the Nigerian pension industry.
  7. As aptly encapsulated in the school’s objective, which reads, “Contributing Towards Education & Career Roadmap in Pension Administration and Management”, the industry expects that graduates of the School would appropriately suite our needs and requirements. Indeed, we expect nothing less from the School given the caliber of faculties assembled by the management.
  8. On this note, therefore, I would like to, on behalf of the management and staff of PenCom, register our best wishes to Abuja School of Pension and Retirement Planning as it commences formal operations as a unique educational institution in Nigeria.

Thank you and God Bless.”

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