Pension Hits N5trn, Says PenCom  | Independent Newspapers Limited
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Port Harcourt

Pension Hits N5trn, Says PenCom 

Posted: Aug 30, 2016 at 4:25 pm   /   by   /   comments (0)


The South-South regional manager of Trust Fund Pension, Andrew Kussa, has said that the National Pension Commission (PenCom) has so far generated over N5trillion from the contributory pensions and retirement savings.

The revelation was made during the 2016 Employers’ Forum organised by Trust Fund Pension in conjunction with Zenith Pension Custodian Limited in Port Harcourt, Rivers State capital.

Kussa disclosed that the contributory pension has given retirees some level of soft landing as they go into retirement life.

He informed that the essence of the forum was to have an interaction with the customers where problem would be revealed and solutions offered by experts. “We are here to have interaction with customers and proffer solutions to their problems”, Kussa said.

The PenCom regional manager highlighted in a paper he presented at the forum that some problems confronting the company include the processing of retirement savings to involve duplications of pins, pins not in Trust Fund data base/other PFAs pin as well as schedules without pins.

“Others include over/under remittance, invalid/incorrect pins, mismatch pins, duplicate period, self-allocated pins and payment without schedules,” he said.

He stated the company was poised to ensure prompt crediting of member’s timely printing and delivery of statement of accounts, resolution of all customers complaint within 48 hours as well as maintain strict compliance with both internal policies and regulatory guidelines directives and circulars.


Dan Abia

Port Hacourt