KEY POINTS
- PenCom to enhance the ability of the Federal Government to meet pension obligation under the Contributory Pension Scheme.
- The online enrolment exercise for 2025 retirees of MDAs is scheduled to commence on October 7.
- New enrolment application developed in order to enhance the user experience and minimise breakdowns.
While briefing the public on the achievements of the commission in its quarterly allegations, PenCom has given the assurance that all the accumulated pension debts owed by the Federal Government under the Contributory Pension Scheme will be paid shortly.
PenCom quarantors formal payment of all outstanding pensions, readies itself for 2024 online enrolment
Speaking at a workshop in Lagos, the Acting Director-General of PenCom, Ms. Omolola Oloworaran, said work is nearly complete to tackle the pension deficit, and funding constraints that have hindered the payment of accrued rights for retirees.
According to Oloworaran, the commission takes an active part with other stakeholders to ensure that the recipients of the funds are the retirees in line with the objectives of the CPS. ”I promise you that such problematic situations will be resolved without delay,” she said.
On the same note, PenCom is set to commence the 2024 Online Enrolment Exercise for prospective 2025 Treasury funded prospective retirees in MDAs on the October, 7.
PenCom improves the Online enrolment process of MDA retirees
As part of her speech, Oloworaran encouraged workforce to undergo annual pre-retirement verification exercise which enables PenCom to ascertain the accrued pension rights of employees that are expected to retire within the next financial year. The enrolment process which has been automated since 2021 is divided into 4 modules which are retirees, MDAs, PFAs and PenCom.
The workshop aim at enhancing an understanding of the PDOs on the management of the online enrolment application together with operational issues. Oloworaran wanted to assure the participants that there is a better enrolment application in the pipeline to increase efficiency, quality, and specifically to eliminate downtimes during the busiest months.
