Commission (PenCom) on
Thursday held 2017 preretirement
workshop for
prospective retirees of
Federal Civil Servants from
Abuja and Nasarawa State.
Mrs Ekanen Ikhuomo, Head,
Benefits and Insurance
Department of PenCom,
addressed the retirees on
behalf of PenCom Acting
Director General, Mrs
Aisha Umar-Dahir. Umar-
Dahir said the Contributory
Pension Scheme CPS,
came into being due to
unfunded and inadequate
budgetary allocations,
unsustainable outstanding
pension liabilities, weak and
inefficient administration.
She highlighted the
importance of CPS to the
retirees, which she said,
was contributory in nature
and involved employer/
employee to contribute 10
per cent and eight per cent
respectively of employee’s
The acting chief executive
officer said that the scheme
was fully funded right from
the onset, adding that fund
was set aside by government
to fully meet future retirement
benefits. She told the retirees
that individual Retirement
Savings Account (RSA) was
personalised and portable
with the aid of PIN, stressing
that the scheme was strictly
regulated and supervised by
the commission.
Umar-Dahir said necessary
information, computation
of retiree’s benefits and
submitting same to Budget
Office of the Federation for
budgetary appropriation
were the reasons for preretirement
verification and
enrollment exercise.
She said that the
commission had conducted
eight enrollment exercises
since inception, adding
that PenCom was currently
preparing for another
exercise for Federal
Government employees of
treasury-funded MDAs due
for retirement in 2018. Mr
Onuoha Onyemachi, one of
the retirees who participated
in the workshop, expressed
appreciation to PenCom for
organising the workshop.
Onyemachi called on the
Federal Government to allow
retirees to withdraw at least
50 to 75 per cent of their
contributions. He said that
this would enable the retirees
to do something reasonable
with their pension “as
withdrawing only 25 per cent
cannot solve any problem of
the retirees’’.
Onyemachi said that
government should also
allow the retirees to choose
the percentage they wanted
from their pension.
Mr Akinola John, another
retiree in the workshop,
complained of the small
space PenCom hired for the
workshop, stressing that
the place was too small and
could not contain over 2000
retirees that came for the
programme. He called on the
commission to ensure it hired
enough space any other time
it wanted to hold workshop
for the retirees.