Business
PENCOM Uncovers Contributors’ Multiple Registration
The National Pension Commission (PENCOM) says it uncovered some multiple registration of Retirement Savings Accounts (RSA) by some pension contributors.
This is contained in a statement by its Corporate Affairs Manager, Mr Emeka Obiora, on Saturday in Lagos.
It stated that the RSAs were opened with different Pension Fund Administrators (PFAs).
According to the statement, in the course of planning for the new transfer windows, we discovered a single contributor with six RSAs in six PFAs, and we are sorting it out.
“This development is wrong and in such situations the first PFA of choice is picked for the contributor.
“This development is what is delaying the various transfer windows the commission is planning for contributors.
“The transfer windows will provide the contributor different options to choose from, on how he wants his contributions to be invested and how to collect his money as a retiree,” it said.
PENCOM said that it would not roll out the transfer windows without clearing the data as it would complicate issues.
“At the heart of the transfer windows were biometrics and PENCOM will not have that in place with such problems,” it stated.
It advised contributors that are having problems with their various PFAs to inform the commission about it instead of going to another PFA.
The commission said it had dedicated a whole department to make the transfer windows possible.
It added that work was ongoing and as soon as the data were cleaned up, the guidelines for the transfer windows would be issued.
PENCOM said that the Risked Based Supervision (RBS) adopted did not give room for any contributor or PFA to engage in shady business.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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