Stakeholders Charge New PenCom Boss On Retirees’ Benefits

 

Advocates in the pension industry have urged the newly appointed Director-General of the National Pension Commission, Omolola Oloworaran, to ensure timely payment of benefits to retirees.

This followed Oloworaran’s assumption of office earlier this month with a pledge to explore new frontiers in the implementation of the Contributory Pension Scheme.

President Bola Tinubu appointed Oloworaran as the new director-general of PenCom in July, subject to the confirmation of the Nigerian Senate.

Charging the new DG on retiree benefits, the Director of the Centre for Pension Rights Advocacy, Ivor Takor, said, “While welcoming her to the industry, I want to emphasise the core objectives of the Pension Reform Act 2014, under which PenCom was established and under which she has been appointed: To ensure the smooth operation of the Contributory Pension Scheme and to guarantee that everyone who has worked in the public service—whether at the federal level, in the Federal Capital Territory, or within states and local government councils—receives their retirement benefits promptly.

“Unfortunately, this has not always been the case. The delays are not the fault of previous PenCom DGs, but rather due to a lack of political will and empathy from successive Federal and State Governments. Many public servants, including those at the local government level, have retired and gone over one or two years, or even more, without receiving their pension benefits.”

Takor added that for the new DG, like her predecessors, the challenge is to advocate with state governors and local government chairmen, especially in light of the Supreme Court’s judgment granting full financial autonomy to all 774 local governments.

“Her primary responsibility is to ensure that retired federal public servants, including those in the FCT, receive their benefits as and when due. A critical issue to address is the release of funds for the payment of accrued pension rights, which is the main reason federal retirees are not receiving their retirement and death benefits on time.

“Another key issue she must confront is the discriminatory treatment of pensioners under the CPS compared to those under the old Defined Benefit Scheme, which contradicts the provisions of Section 173(3) of the Constitution and Section 39(3) of the Pension Reform Act 2014.

“I trust that the President, who appointed her, wants her to succeed, and I believe she will receive the necessary support and backing to improve the lives of retirees and pensioners,” he stated.

The Chairman of the NTA Contributory Pensioners, Gbadebo Olatokunbo, in a chat with media, said that the only agenda of the new DG should be how to address the plights of the contributory pensioners.

He said, “The law of the Federal Republic of Nigeria has mandated the responsibilities of the contributory pensioners to PenCom and the organisation shall be held liable for any plights that befall contributory pensioners in Nigeria. Therefore, the new boss must see to the sufferings of the contributory pensioners under withdrawal savings or annuities now.”