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Pension Is To Help Workers Realise Targets

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The acting director general of National Pension Scheme (NPS), Mrs Aisha Dahiru Umar, has described Pension Scheme as an avenue designed to make workers realise their target objectives in  life.

According to her, retirement from active service is an opportunity to become the personality one has always intended to become but have never been.

Speaking at a Pre-retirement workshop held yesterday in Kano, the acting NPS DG, who spoke through her representative, Mr Malami Bunza, the assistant general manager, Benefits and Insurance, of the Commission, highlighted that the NPC had decided to organise the sensitisation workshop in order to keep the retiring civil servants abreast with the modus operandi of the commission and the challenges of life after retirement.

He said it is very important for the retirees to be furnished with all that they are expected to face as challenges during their lives after retirement. He pointed out that the lump sum of money, which the retirees would handle, has to be invested wisely for fear of mismanagement and misapplication of priorities on frivolity.

Bunza said there are conditions which the retirees are expected to

fulfill before enrollment, citing presentation of promotion letter,

last pay slip with grade levels clearly stated and step variations

slip are to be made available during documentations.

It includes among other documents, the benefit notification letter,

which is to be addressed to the director general, NPC and all

submissions of relevant documents, which will enable accurate

computation and remittance of employees’ retirement benefits.

Bunza said that it is clear that the Commission is facing quite a

number of challenges, especially the ones that have to do with limited

public awareness of the workings of the new contributory pension

scheme.

According to him, the different interpretations of some provisions of

the Pension Act by retirees, comparison of benefits under the old and

new scheme, comparison of benefits by colleagues on similar positions

but with different variables as well as delay of accrued rights,

normally lead to the delay in processing retirement benefits as at

when due.

The DG drew the attention of the retirees to a template where it has

been stated that “try and define how the future will be different from

the past, explore how to spend your retirement benefits, identify the

decisions you need to make for your retirement by being motivated and

inspired to take bold decisions on your next line of action.”

On the Pension Reform Act, he said the PRA 2O14 was designed in order

to make Pension administration transparent and seamless. Adding that

the Commission had established a uniform set of regulations and

standards for all aspects of pension administration in the country.



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