Rivers
Board Moves Against Fake Pension Administrators
The Rivers State Pension Board says it would close down sub-standard and unregistered Pension Fund Administrators (PFAs) in the state before June this year.
The Chairman of the Board, Mrs. Edna O. Alekor disclosed this last Thursday at the Sensitisation and Enlightment Programme on the contributory pension scheme organised in Port Harcourt.
Mrs. Alekor said the board has already concluded plans with the Pension Commission (PenCom) in the state to ensure that pension agencies that do not have the requisite capital in its accounts are phased out of the state.
She called on all pension fund administration agencies in the state to comply with the rules and regulations of the National Pension Commission (PenCon), saying that the board would strictly supervise and screen all agencies before June 2012 to ensure sanity in the new system.
Mrs. Alekor who restated the genuineness and transparency of the new pension scheme noted that there was a lot of fraud in the former system.
The Chairman opined that the new pension scheme would erase the challenges of delayed payment after retirement.
According to her, the new system is to empower individual contributors and to ensure that retirees received their pension benefits as and when due.
She also explained that the pension scheme was to ensure that retirees have individual Retirement Saving Accounts (RSA) where workers contributions would be paid into every month as pension fund.
Speaking at the occasion, the Chairman, Rivers State House of Assembly Finance Committee, Hon. John Josiah Olu said the Pension Reform Act, which was passed into law in 2004 is to ensure that money contributed by workers was insured for immediate payment after retirement of both public and private workers in the state.
He said the state House of Assembly was committed to ensuring that the new board was monitored strictly to remove the challenges that killed the former system.
He assured all workers, especially civil servants in the state that the issue of delayed pensions payment would be over as the new board was committed to ensuring workers benefited from their pensions, immediately they retired.
Enoch Epelle
Rivers
NDDC Provides Lifeline To Flood-Hit Ogu-Bolo Community
Rivers
Don Traces Nigeria’s Highway Woes To Design Failures … Proposes Mechanistic-Empirical Design Approach
Rivers
CP Reaffirms Commitment To Human Rights, Community Policing In Rivers
-
Opinion4 days ago
Ozoro Festival: Tradition or Tyranny?
-
News4 days agoRSG Reiterates Commitment To Youth Dev
-
News1 day ago
Decentralizing Pipeline Surveillance Poses Greater Dangers To Niger Delta …. Group Warns
-
Politics1 day agoAPC Resumes Electronic Membership Registration Nationwide
-
Rivers1 day agoCourt Rules Out Interim Administration In Jumbo House, Bonny
-
Oil & Energy4 days agoTranscorp Energy, Renewvia Partner On Renewable Energy Gap
-
Politics4 days ago
RIVERS WOMEN RALLY SUPPORT, CONTINUOUS PRAYERS FOR TINUBU
-
Politics4 days ago
AKPABIO, DIRI, OBOREVWORI, OTHERS VOW TO REELECT TINUBU …AS GIADOM RETAINS APC ZONAL CHAIR
