PenCom prepares workers for 2019 retirement

The National Pension Commission (PenCom) has begun to prepare prospective retirees, who will be retiring next year from the public service, Acting Director-General, National Pension Commission (PenCom), Mrs Aisha Dahir-Umar has said.

She made this known in her opening remarks at the pre-retirement workshop for Federal Government retirees due to retire in 201 under the Contributory Pension Scheme (CPS)

The Commission, she revealed,  has, however, finalised arrangements to commence the verification of prospective retirees from June 25, to August 17, 2018 in 15 centres across the country.

According to her, the pre-retirement workshop was part of their annual regulatory activities. “The verification exercise is scheduled to be undertaken The impending exercise, therefore, necessitated the need to undertake adequate sensitisation and public enlightenment in order to prepare prospective retirees on the steps to take towards a hitch-free retirement life.

“We consider contributors, who are about to join the CPS retirees as very important stakeholders. One of the salient objectives of the Pension Reform Act (PRA 2014) is to make pension administration under the CPS transparent and seamless,

“Accordingly, the Commission has established uniform set of rules, regulations and standards for all aspects of pension administration, including payment of retirement benefits to retirees. This was achieved through the issuance of the regulations on administration of retirement and terminal benefits; regulation on retire life annuity; the frameworks on pension enhancement & programmed withdrawals; and the circular on voluntary contributions among others.

Papers presented  included enrolment exercise and documentation requirements, accessing retirement and terminal benefits under the CPS and Life after retirement. She expressed hope that the workshop would educate pension participants on what they need to know on documentation requirements, payment of retirement benefits and life after retirement

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