Yemisi Izuora
Nigeria’s pension assets have risen by N1.77 trillion in the first half of 2023, from N14.99 trillion in December 2022 to N16.76 trillion at the end of June 2023.
Also, membership increased by 146,920 new contributors, from 9.86 members as of the end of 2022 to over 10 million members as of June 2023.
The Director General, DG, of the National Pension Commission, PenCom, Aisha Dahir-Umar, who was represented by the Director of Corporate Communications of the agency Mr Abdulqadir Dahiru made the disclosure in Lagos on Thursday that the Agency’s proactive regulatory approach has strengthened the oversight and governance of pension funds, promoting transparency, accountability and safeguarding the interests of pension contributors.
The DG, spoke at the 2023 Journalists Conference organised by the PenCom for members of the press covering Pension matters.
The theme of this year’s workshop is “Transforming Service Delivery in the Pension Industry: Strategies for Improving Efficiency and Customer Satisfaction,”.
She said the Contributory Pensions Scheme, CPS has ensured that public and private sector workers can build retirement savings throughout their working lives, fostering financial security during their golden years.
Reflecting on the conference, Dahir-Umar said, the summit is a testament to PenCom’s commitment to enhancing the knowledge and understanding of the CPS and its impact in the lives of contributors and retirees.
” It is also an occasion to interact with the media and discuss developments shaping Nigeria’s pension landscape.
“It reflects PenCom’s commitment to continuous service improvement in the Pension Industry so that contributors and retirees receive the best possible experience.” she added
In the course of the interaction, the DG, said three enlightening papers addressing essential aspects of the Agency’s pension system’s service delivery would be presented.
The first paper, “Enhancing Customer Service in the Pension Industry: PenCom’s New Strategic Plan,” will highlight the Commission’s latest initiatives to elevate customer service.
The creation of the Consumer Protection Department (CPD), she further explained underscores PenCom’s determination to prioritise service delivery and provide our Retirement Savings Account holders with the care and attention they rightfully deserve.
The second paper, “Strengthening Regulatory Oversight for Improved Service Delivery in the Pension Industry,” will explore how regulatory measures can effectively bolster the quality of services provided in the pension sector. Regulatory oversight is pivotal in maintaining transparency, fairness, and efficiency, which are the cornerstones of our pension system.
The third paper, “Improving Accessibility and Service Delivery in RSA Mortgage Financing,” will be presented by the Chief Executive Officer (CEO) of the Pension Fund Operators Association of Nigeria (PenOp).
The presentation according to her will delve into the crucial area of mortgage financing, addressing ways to enhance accessibility and service delivery for our eligible Retirement Savings Account holders.
She applauded the executives and members of LAWAN, NAIPE and FICAN for their continuous support and partnership, noting that their “dedication and support are instrumental in advancing PenCom’s mission.”