The National Pension Commission, PenCom, has assured all pension contributors and retirees that, their retirement savings are secure, while the organization will continue to work tirelessly to safeguard their future.
The Director - General, National Pension Commission, Mrs Omolola Oloworaran, gave the assurance in a message to the official launch of Citizens Pensions Ltd in Lagos.
The DG, who welcomed the organization into the fold of licensed Pension Fund Administrators (PFAs), said the license came with great responsibility, to uphold the trust of contributors and adhere to the highest standards of professionalism.
" I expected you to contribute meaningfully to the goals, offer Nigerians more choices and improved access to best-in-class pension services" he charged.
Oloworaran, noted that,, theimproveon reflects the growing confidence in the Contributory Pension Scheme CPS) and uderscores PenCom’s commitment to fostering a competitive, inclusive, and sustainable pension industry.
He explained that the existence of the new administrator depends on fulfilling the rules guiding the operations adding that, it was “Approval-In-Principle (AIP) to carry on the business of a Pension Fund Administrator subject to fulfilling the A.I.P conditions within ninety (90) days.
Her message was delivered by the Zonal Head, South-West Zonal Office, National Pension Commission, Mr Shola Adeseun
Earlier, the Managing Director/Chief Executive Officer, of Citizens Pensions, Helen Da-Souza identified the need for in-depth education to ensure that citizens understand their pension contributions and avoid misconceptions.
Da-Souza said, pension plan was essential to safeguard the quality of life and health at an advanced age as it provides a stable and dependable source of income after retirement.
" Many people are not in the know about pensions, most of them just make contributions, they don't even follow up on the scheme "The reason we want to embark on in-depth education of citizens of Nigeria "Da-Souza
“We work closely with customers from their first income to retirement, providing. Listed service and support,’’ she promised.
The Chairman of Citizens Pensions, Chukwuka Onwuchekwa, said the firm was s,epping into the space with a clear mission to provide retirement solutions that empower individuals and institutions to achieve their long-term financial goals.
According to him, this will ensure a comfortable and dignified retirement for all.
“At Citizens Pensions, we are inspired by these advancements. But inspiration alone is not enough. We understand that innovation must be adapted to local realities.
“Nigeria, with its dynamic population and unique challenges, presents an incredible opportunity to leapfrog traditional models and embrace a future where pensions are not just an obligation but a cornerstone of financial empowerment”.
Onwuchekwa called for collaboration with other PFAs to transform the pension system. “But let us be clear: building a transformative pension system is not a solo endeavor" he stressed
we invite collaboration. From regulators to financial institutions, from employers to employees. Yes, we must work together to create a system that is inclusive, efficient, and sustainable’’.
He thanked the National Pension Commission (PenCom) for their dedication to the growth and stability of Nigeria’s pension sector.
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