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‘Retirees’ benefits are assured under CPS’

In an exclusive interview with Daily Trust, the Group Chief Executive Officer of Pension Academy, a division of Learning Impact Nigeria, Mr. Omagbitse Barrow, said…

In an exclusive interview with Daily Trust, the Group Chief Executive Officer of Pension Academy, a division of Learning Impact Nigeria, Mr. Omagbitse Barrow, said the era of problems of underpayment, bureaucracies and delays in payment of pension benefits was over with the coming of the CPS.
The interview was held at the sideline of an interactive forum organised by ARM Pension Managers in Abuja recently.
“You have people retiring, notifying their PFAs, filling out the forms and being paid as and when due. It is one of the most remarkable things government has ever done in Nigeria,” he said.
The expert pension administration trainer said the full potential of the CPS was yet to come as the Pension Reform Act 2014, which has permitted PFAs to investment pension funds in infrastructure, would lead to Nigeria’s rapid development.
He said with aggressive investments in infrastructure bonds, real estate, and ordinary shares as part of the over N4 billion pension fund portfolio, contributors would enjoy higher returns on their contributions at retirement.
He explained that the National Pension Commission (PenCom) has established a comfortable nexus between security of pension funds and higher returns on investments through investment guidelines issued to PFAs.

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