PenCom to Collaborate With ICPC to Drive CPS Compliance
Ebere Nwoji
The National Pension Commission (PenCom), has said that it has mapped out strategies to expand compliance of both employers and employees with the Contributory Pension Scheme(CPS) disclosing that it would execute a memorandum of understanding with Independent Corrupt Practices Commission( ICPC ) on recovery of pension liabilities.
The commission also said it would collaborate with state MDAs to drive compliance with the Pension Reform Act 2014 by private schools, hospitals and recreational centres.
PenCom Director General, Ms Omolola Oloworaran stated this at a media retreat organised by the commission in Lagos.
She said as part of efforts towards expanding compliance with the CPS the commission would institutionalise regular round table discussions with the Nigeria Labour Congress NLC, the Trade Union Congress (TUC) and key stake holders to deepen compliance awareness and buy-in.
She said in addition to this, the commission would automate issuance of pension compliance certificate (PCC) to ensure faster and transparent process in the certificate issue.
Oloworaran added that the automation of the pension compliance certificate would among other things enhance recovery of outstanding contributions and penalties through ICPC stronger enforcement and recoveries.
She said it would improve compliance levels in private education, healthcare and hotels as well as increase sub national adoption of PCC as a compliance tool.
The PenCom boss said it would also strengthen trust, awareness and worker participation through structured engagement.
To achieve the expansion target, Oloworaran, said the commission would pay priority attention to institution of stronger sanctions for persistent defaulters, deepen recovery exercise through collaboration with the ICPC, strengthen public awareness and stakeholder engagement with the commission’s social partners capacity and institutional adoption of PCC as requirement for granting government intervention to Micro small and enterprise businesses.
She observed the need to sustain dignity of workers at retirement through health care security.
Oloworaran noted that retirees under CPS lacked structured health insurance .
She said PenCom had perfected plans to build a sustainable, pension industry driven by health insurance system anchored on corporate social responsibility to protect retirees from health -induced poverty through its PenCare initiative .
She said the initiative would see the commission offering free medical care to 30,000 low income retirees effect from first quarter 2026.
The PenCom boss said the above number of pensioners would be the beneficiaries of the government’s free health care scheme for pensioners in the first phase of the PenCom’s pencare initiative to be rolled out next year.
She said this would be followed by the second phase of the scheme which would be the full rollout post -pilot evaluation of the scheme .
She said government would at the implementation of the full phase expect no less than 300,000 retirees to have access to free health care services,to reduce out- of – pocket health expenses for retirees , give improved health and quality of life for senior citizens and enhance trust and reputation of the on going Contributory Pension scheme.
Oloworaran said the vision behind the PenCare initiative was to present in Nigeria a model for inclusive health financing across Africa, to be in alignment with the United Nations sustainable development goal (SDG)3 on good health and well being SDG 10 on reduced inequalities.
She described the Pencare initiative as an industry -driven Community Social Responsibility programme jointly funded by PenCom and licensed pension fund operators adding that it was designed for retirees only not from contributors’ money or from pension fund assets.
