The Premium Pension Ltd says it has over 700,000 individual account holders who had pulled over N700 billion by the end of 2019.
The Executive Director, Business Development and Strategy Kabir Ahmad in Yola said, the contributory pension is superior to the old pension system for safety and for funding the economy.
“It is an interactive session to make them understand our operations and to ask questions to clear doubts that they may have. It is also an avenue to get feed back on the delivery of our mandate”.
Earlier, Mr Akin Denton, the Business Development & Client Services said, contributory pension is handled by professionals, and the functions of these professionals are separated.
Denton noted pension functions are separated and are in the hands of professionals. Now, pension sits on a tripod: the regulator, which is the National Pension Commission (PenCom), the PFA (Pension Fund Administrators, and the PFC (Pension Fund Custodian).”
He said the scheme which fraud-proof legacy of the Obasanjo government.
“Two great things the regime of Obassnjo and Atiku did were establishment of pension and the putting of phones in the hands of Nigerians. Now, pension is being used all over the world for development.
“This era is different in the sense that in the past era, the pension managers were also the ones who held the money. Every time there was deficit in the budget, they simply went to pension money that belonged to people and mismanaged it.
“Now, the PFA can’t touch the money because the access is in the hands of the PFC. Both PFA and PFC are regulated by PenCom which put an eye on everything being done”.
The session was organized for participants from Adamawa, Taraba and Gombe state.