Rivers
Board Moves Against Fake Pension Administrators
The Rivers State Pension Board says it would close down sub-standard and unregistered Pension Fund Administrators (PFAs) in the state before June this year.
The Chairman of the Board, Mrs. Edna O. Alekor disclosed this last Thursday at the Sensitisation and Enlightment Programme on the contributory pension scheme organised in Port Harcourt.
Mrs. Alekor said the board has already concluded plans with the Pension Commission (PenCom) in the state to ensure that pension agencies that do not have the requisite capital in its accounts are phased out of the state.
She called on all pension fund administration agencies in the state to comply with the rules and regulations of the National Pension Commission (PenCon), saying that the board would strictly supervise and screen all agencies before June 2012 to ensure sanity in the new system.
Mrs. Alekor who restated the genuineness and transparency of the new pension scheme noted that there was a lot of fraud in the former system.
The Chairman opined that the new pension scheme would erase the challenges of delayed payment after retirement.
According to her, the new system is to empower individual contributors and to ensure that retirees received their pension benefits as and when due.
She also explained that the pension scheme was to ensure that retirees have individual Retirement Saving Accounts (RSA) where workers contributions would be paid into every month as pension fund.
Speaking at the occasion, the Chairman, Rivers State House of Assembly Finance Committee, Hon. John Josiah Olu said the Pension Reform Act, which was passed into law in 2004 is to ensure that money contributed by workers was insured for immediate payment after retirement of both public and private workers in the state.
He said the state House of Assembly was committed to ensuring that the new board was monitored strictly to remove the challenges that killed the former system.
He assured all workers, especially civil servants in the state that the issue of delayed pensions payment would be over as the new board was committed to ensuring workers benefited from their pensions, immediately they retired.
Enoch Epelle
Rivers
Motor Spare Parts, Industrial Generators Dealers’ Union Swears Gets New Chairman in Port Harcourt
The Owhonda Dickson Motor Spare Parts and Industrial Generators Dealers’ Union operating in Ikoku Port Harcourt, Rivers state has sworn in Mr. Cyril Igbokwe, popularly known as Onyeoma Cy, as its new Chairman.
The brief swearing _in ceremony was held at the union office in Port Harcourt, last Wednesday
In his acceptance speech, Mr. Igbokwe expressed gratitude for the trust and confidence his members had shown in him, despite his perceived educational background compared to others. , “I feel very happy to be the chairman of this great union in this great market. I’m proud of my executives for demonstrating commitment and cooperation.” Notably, the executives raised over ?1 million for the inauguration ceremony within an hour.
The new Chairman promised to tackle key challenges facing the union, including security and indiscipline. He vowed to follow in the footsteps of his predecessor, who he praised for excellent performance, and aimed to possibly do better.
Mr. Igbokwe emphasized maintaining a robust relationship with the host community and conducting his affairs within the ambit of the law.
In his remarks,the Electoral Committee Chairman’, Igwe Amobichukwu Eze Okorie, assured that the elections were conducted in a free, fair, and credible manner. Despite facing challenges such as non-compliance with guidelines and unfounded propaganda campaigns, no formal protest letters had been received.
Also speaking, the Women’s Leader, Lolo Nkechinyere Okolie, expressed faith in the new Chairman, citing his integrity and experience. She highlighted her role in ensuring women’s voices are counted in the union and vouched for the credibility of the election, noting that Mr. Igbokwe was the popular choice among members.
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