PenCom promises to uphold contributors’ interests

Bisola David
Bisola David
PenCom recovers N25.45bn unremitted contributions

The Director-General of the National Pension Commission, Aisha Dahir-Umar, has stated that PenCom is preserving contributors’ interests as funds under the Contributory Pension Scheme rise.

The director-general was addressed at the Lagos 2023 Journalists’ Conference while being represented by the head of the corporate communications department, Abdulqadir Dahiru.

According to her, “PenCom’s proactive regulatory strategy has increased the oversight and governance of pension funds, fostering openness, accountability, and the protection of pension contributors’ interests.

“Therefore, from N14.99tn in December 2022 to N16.76tn at the end of June 2023, pension assets increased by N1.77tn in the first half of 2023. Additionally, 146,920 new members contributed to the membership growth, taking it from 9.86 members at the end of 2022 to over 10 million members as of June 2023.”

She stated that the theme of this year’s workshop, ‘Transforming service delivery in the pension industry: ideas for boosting efficiency and customer satisfaction,’ was both timely and critical.

She pointed out that it demonstrated PenCom’s dedication to ongoing service enhancement in the pension sector so that contributors and retirees had the greatest possible experience.

She also noted that the CPS had made sure that employees in the public and private sectors could accumulate retirement savings throughout the course of their working careers, promoting financial security in their senior years.

The director-general added that PenCom’s willingness to prioritize service delivery and give its Retirement Savings Account customers the care and attention they justly deserved was demonstrated by the establishment of the Consumer Protection Department.

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