Stakeholders advocate more sensitisation for inclusive pension system

Some stakeholders have reiterated the need for more private sector engagement and public sensitisation on the importance of keying into the country’s pension scheme.

They spoke at a Pension Industry Roundtable on Thursday in Abuja organised by the National Policy Advocacy Centre of Abuja Chamber of Commerce and Industry (ACCI).

The meeting was held in collaboration with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture(NACCIMA),National Pension Commission, Tangerine Apt and NLPC pensions.

According to the President of ACCI, Dr Al-Mujtaba Abubakar, the meeting is apt as it will help unravel some of the challenges faced by the sector.

Abubarka said the 2014 Pensions Reform Act brought sanity to the industry and resulted in accelerating growth and boost in the confidence of the masses.

He said that in spite of the progress, the industry spread is still below 20 per cent of the entire workforce which has excluded many workers from the benefits of the industry.

“This gathering is billed at raising awareness and mapping out practicable ways of strengthening the inclusiveness of the workforce in the pension scheme in the organised private sector and Nigeria at large.

“I also want to assure you that the recommendations of this meeting will be forwarded to the right quarters for implementation,” he said.

The President, Nigeria Labour Congress(NLC), Joe Ajaero expressed sadness that the pension system in Nigeria did not address completely the fears of workers.

Ajaero, represented by the Assistant General Secretary of the Congress, Onyeka Chris, however accrued the challenge to the unstable economic condition in the country.

“The pension system has put money in our pockets but has not protected us. The value of what we are saving how can we address it.

“We must create a pension system that has integrity, that will attract everyone. We should at how we can make the system work for workers while they are alive.

“We must also make the pension system attractive by protecting the pension funds as workers are bearing the brunt of the negative impact of the system.

“It should be made more inclusive, more workers friendly so that everyone can get involved,” he said.

The Managing Director, NLPC Pension, Mr Samuel Abolarin, while speaking on strengthening pension inclusiveness in Nigeria, called for good government policy to ensure the huge opportunities in the sector was tapped.

Abolarin, represented by Idowu Muslim, said the event was a clarion call for the stakeholders to rise above the various challenges and take necessary steps to ensure inclusiveness of all in the pension scheme.

The Regional Manager , Guarantee Trust Pension, Ayuba Imam, said the onions was not just on the PFAs to drive the pension scheme but on the general public to embrace the scheme.

Imam also urged PENCOM to ensure speedy payment of the accrued rights to clients when necessary.

NAN reports that meeting was attended by representatives of Leadway, Tangerine Apt, NUPEMCO, Radix, Fidelity, FCMB and Norrenberger pensions among others.

The representatives all committed to ensuring pension scheme inclusiveness and driving the country’s economy.

Source: News Agency of Nigeria