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Home Markets Fixed Income Funds Management

PenCom automates annual pre-retirement verification and enrolment exercise

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
August 3, 2021
in Funds Management
PenCom

Aisha Dahir-Umar, Director General of PenCom

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National Pension Commission (PenCom), has created an online program that will automate the Annual Pre-Retirement Verification and Enrolment exercise. Prospective retirees of Treasury-funded Federal Government MDAs can register, verify, and enrol in the application.

This is according to a circular titled “AUTOMATION OF ANNUAL PRE-RETIREMENT VERIFICATION AND ENROLMENT EXERCISE FOR RETIREES/PROSPECTIVE RETIREES OF FEDERAL GOVERNMENT TREASURY-FUNDED MINISTRIES, DEPARTMENTS AND AGENCIES (MDAs)”.

The PenCom website www.pencom.gov.ng will host the online Enrolment Application.

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READ: PenCom deploys online enrollment, verification application for retirees

The Commission will conduct a pilot run of the online enrolment program from August 2 to August 20, 2021, with chosen MDAs in the six geopolitical zones and the Federal Capital Territory (FCT) to test-run the application with real-time data as a precursor to its full deployment.

The application would “GO-LIVE” following the successful pilot run, on a date that PenCom would disclose in due time

According to PenCom, “Pre-Requisite for Enrolment; Affected retirees/prospective retirees are required to undergo the data recapturing exercise with their respective Pension Fund Administrators (PFAs) as this is a pre-requisite for the online Enrolment. This entails updating their personal details and providing their National Identification Number (NIN). However, retirees/prospective retirees who have already undergone the data recapture exercise with their PFAs are not required to repeat the exercise.”

READ: PenCom seeks bonds to clear N400 billion arrears as retirees groan 

What this means

  • Prospective retirees of Treasury-funded Federal Government MDAs can register, verify, and enrol in the application after the pilot program slated to run from August 2 to August 20, is successful.
  • The automation of this procedure would increase efficiency and alleviate bottlenecks encountered in the traditional Verification and Enrolment process.
  • However, the topic of how Prospective retirees/retirees would be instructed on how to use the new channel remains unanswered.

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Tags: National Identification Number (NIN)National Pension Commissionpension fund administrators (PFAs)
Ubah Jeremiah Ifeanyi

Ubah Jeremiah Ifeanyi

For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah

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Comments 1

  1. Anonymous says:
    August 3, 2021 at 8:08 pm

    There are so many retirees who ended services 10 years ago but not yet received their duly earned gratuity and monthly pension.But fed.govt keeps borrowing from this pension accounts but never refunding and knowing fully well that that money belongs to people,who worked and served this country.Its. never been heard in the history of Nigeria that govt borrowed money from pension funds to solve a govt problem except in this administration.its so pitiable.

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