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From Felix Ikem, Nsukka
Director General of the National Pension Commission (PenCom), Mrs. Omolola Oloworaran, has allayed the fears of Nigerian workers, particularly retirees whose pensions are sometimes delayed or not paid at all, assuring them of the commission’s commitment to paying their pensions after retirement.
Mrs. Oloworaran, who gave the assurance in Nsukka yesterday during the fourth Annual Public Lecture of the National Association of Academic Technologists (NAAT), University of Nigeria Nsukka (UNN) branch.
The theme of the lecture was “Between hope and anxiety: Federal workers welfare and realities of the compulsory PenCom contributory fund.”
The Director represented by Mr Nnamdi Duru, said: “We are not here with any anxiety, rather our job is to take away anxiety and bring hope for Nigerian workers in view of the realities of the contributory pension scheme.” The lecture aimed at sensitising the workers on the mechanisms of the contributory pension scheme, Oloworaran stressed that the government has taken a number of steps to improve the system, including the replacement of the 2004 Pension Act with the 2014 Act.
According to her, the measure was to remove the challenges encountered in the process of implementing the Act and extend the beneficiaries of the scheme, pointing out that the 2004 Pension Act accommodated only the Federal workers. She added that the 2014 Act included the three tiers of government as well as Small and Medium Employers that wish to enrol into the scheme.
“The law that established the contributory pension scheme was made in 2004 but ten years after its introduction, some issues came up and these challenges were addressed with the 2014 Act. All the key issues in the Act are to address the challenges encountered during implementation over the ten years of the scheme. The 2004 Act covered Federal workers only but the 2014 Act covers states, local governments and the private sector.”
The director general disclosed that unlike the deficit balance of N1.6 trillion experienced in 2004, the commission at present has a surplus of over N26 trillion being managed by different PFAs. She advised workers to always check what they have contributed to their Pension Fund Administrators (PFAs), and participate actively in pre-retirement verifications for a hitch-free assessment of their benefits at the time of retirement.
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Chairman of the occasion, Dr. Chinedu Onuh, represented by Prof. Ike Onyishi, former dean, Faculty of Social Sciences, UNN, commended the Chairman of NAAT UNN Chapter, Temple Onwukwe and his executive members for their useful contributions to the university by playing a veritable social responsibility role.
He said the theme of the public lecture was apt and a serious business for the union and the University as a whole. Vice Chancellor of the university, Prof. Simon Ortuanya, said NAAT has continued to be in the forefront of the struggle for the betterment of the university workers, emphasising that its activities cut across all other segments of the institution. The VC, represented by the Deputy Vice-Chancellor (Academics), Prof. Kamoru Usman, advised members of the university community to embrace the lecture in the fullest, adding that it was an opportunity for them to be abreast with the workings of the pension scheme.
In an address, the NAAT UNN Chapter chairman, Onwukwe said the annual gathering is a platform of the Association to contribute to their knowledge and bring “town and gown” together and fulfil their corporate social responsibility.
He said the body has made remarkable achievements over the years in the areas of human Capital development and capacity building of some individuals stressing that the welfare of the members and the University community remains the core value of their struggles.
Onwukwe added that the Association decided to invite PenCom to address the concerns of the university workers on the safety of their funds amidst protests, fears of mismanagement, and cries of the retirees.
He reiterated the resolve of the body to give unwavering support to the current Vice Chancellor of the University, Prof. Ortuanya.
The event featured an interactive session with the workers and the appreciation of the guest lecturer from PenCom, Mrs. Oloworaran with an award.
