PenCom commences retirees’ online verification today

The National Pension Commission (PenCom) has revealed plans to commence a pilot scheme of its online pre-retirement verification and enrolment exercise for retirees in government ministries, departments and agencies (MDAs) in the country.

The commission, at a workshop titled ‘Positioning the Pension Industry in a Post-COVID Era’ held in Lagos, said the enrolment will take off between August 2nd to 20th 202

PenCom said it could register, verify and enroll prospective retirees of treasury-funded federal government MDAs to compute their accrued pension rights and budgetary allocations.As a prelude to the formal deployment of the online enrolment application, the commission would commence the exercise with selected MDAs in the six geo-political zones and the Federal Capital Territory (FCT) to test-run the application with real-time data,” it said

“Accordingly, the online enrolment application would be hosted on PenCom website: http://www.pension.gov.ng The commission called on prospective retirees to undergo data recapturing exercise with their respective pension fund administrators (PFAs) as it is a prerequisite for online enrolment

The Assistant General Manager, National Databank Management Department, PenCom, Maryam Bello, said since the commencement of the retirement savings account (RSA) transfer system, 25,645 workers have transferred a total value of N102.59 billion to other PFA

Bello, stressed that 2,799, 12,681 and 10,165 workers transferred N18.90 billion, N47.78 billion and N35.91 billion in the fourth quarter (Q4) of 2020, Q1 2021 and Q2 2021 respectivel

Meanwhile, the commission said pension fund assets surged to N12.66 trillion as of June 30, 2021, with 9.38 million registered RSAs . Director-General, PenCom, Aisha Dahir-Umar, earlier in her welcome remarks, said that the number of registered contributors under the CPS has grown to 9.38 million during the periody.s.t.d..ns.