Pension Scheme:PenCom Nets N5trn

The National Pensions Commission (PENCOM) has generated over five trillion naira from contributory pension and retirement savings.

The South South Regional Manager of Trust Fund Pension, Mr Andrew Kussa, said this in an interview with newsmen at the 2016 employers Forum organized by Trust Fund Pension collaboration with Zenith Pension Custodian Limited in Port Harcourt.

Kassa also said that the contributory pension  has created opportunity for retirees to have a soft landing.

He said that the forum was organized to interact with customers with a view to knowing their problems and proffer solutions to them.

Earlier in his paper at the forum, Mr Kussa had highlighted some challenges be falling the company in the processing of retirement savings to involve, duplications of pins, pins not in Trust fund data base/other PFAs pins as well as scheduled without pins.

Others include, over/under remittance, invalid/incorrect pins, mismatched pins, duplicate period, self allocated pins and payment without schedules.

He also said that the company is poised to ensure prompt crediting of member’s.

RSAs, timely printing and delivery of Statement of Accounts,  resolution of all customer complaints within 48 hours as well as maintain strict compliance with both internal policies and regulatory guidelines directives and circulars.

Speaking with newsmen, one of the participants, Mr Ibrahim Salawu said that the workshop was timely as it would help to correct some misinformations concerning the operations of the Pension Found Administrators (PFAs) in the country.

Mr Salawu who works with Julius Berger promised to carry the message to the company’s management.