PenCom Cautions Retirees Against Fraudulent Pension Group

The National Pension Commission(PenCom) has cautioned retirees and pension contributors against dealing with a fraudulent group known as Association of Pension Desk Practitioners of Nigeria (ASSOPEP), stating that, the commission has no relationship with such illicit association.

The pension industry regulator, through a statement made available to LEADERSHIP yesterday, noted that, the group’s claims of resolving pension issues and assisting retirees in securing their retirement benefits are entirely false.

According to the commission, “the general public is kindly requested to note that the claims by ASSOPEP are entirely false as the Association has no affiliation with the pension industry nor authorisation of any kind whatsoever from PenCom. Moreover, Licensed Pension Fund Operators (LPFOs), who are statutorily mandated to undertake the processing and payment of retirement benefits, are not associated with ASSOPEP in any way.”

It, therefore, urged the general public to be cautious of any promise or claim made by ASSOPEP regarding pension and retirement benefits or any other matter relating to the pension industry in Nigeria.

The commission, however, strongly advised workers, retirees, pension desk officers and everyone approached by the association with claims of consulting with their Pension Fund Administrators (PFAs) and PenCom for guidance and  assistance in respect of their retirement benefits, to exercise caution as any interaction with the group is at the individual’s own risk.

PenCom disclosed that it has reported the activities of ASSOPEP to law enforcement agencies for appropriate action.