Wednesday, June 29, 2022
Google search engine
HomeBusinessPenCom kicks off online verification for MDAs’ retirees

PenCom kicks off online verification for MDAs’ retirees

Kehinde Ibrahim, Lagos

THE National Pension Commission (PenCom) has started its online verification and enrolment for prospective retirees and retirees of Federal Government Treasury Funded Ministries, Departments and Agencies (MDAs), the Director-General, Mrs. Aisha Dahir-Umar has said.

Announcing this, Mrs. Dahir-Umar, called on prospective retirees to ensure that they undergo the compulsory Data Recapture Exercise (DRE).

She promised retirees an hitch-free exercise and enjoined them to seek more information from its website and guidance from any Pension Fund Administartors (PFAs).

She stated that the exercise was aimed at validating the accrued pension liabilities of government for the retirees.

She said accrued pension right represents an employee’s benefit for past years of service from the date of his or her first appointment to June 30, 2004 when the Contributory Pension Scheme (CPS) took off.

She further stated that payment of accrued right is in line with Section 15 of the Pension Reform Act, 2014 (PRA, 2014), which notes that payment of accrued pension benefits which an employee is entitled under the Defined Benefit Scheme (DBS).

She said: “The accrued right is a component of the Retirement Savings Account (RSA) of the employee to be accessed upon retirement. In the past, the enrolment and verification for the eligible employees was carried out physically in different locations around the country. However, following the experience of the COVID-19 pandemic in 2020, which restricted the movement of persons, PenCom designed and developed an online Enrolment Application with the capabilities to register, verify and enrol the prospective retirees.

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments