PenCom Restates Commitment to Safety of Pensioners’ Contributions

James Emejo in Abuja
The National Pension Commission (PenCom) has said it is committed to ensuring that all pensioners under the Contributory Pension Scheme (CPS) are fully recaptured and uniquely identified on the database to ensure that only bonafide Retirement Saving Account (RSA) holders have access to their contributions.

Head, National Data Bank Management Department, PenCom, Mrs. Grace Usoro, told THISDAY the data recapture exercise for government agencies remained critical for the commission adding that it would continue until “we ensure that the last contributor that registered before the cut-off date of July 2019 has been fully recaptured.”

About 9, 000 contributors will be required to update their information in order to remain eligible RSA.
Speaking shortly after an inspection of one of the data recapture centres operated by Payone Solutions Systems, in Abuja, she explained that exercise which is undergoing its pilot phase was to enable the agents capture contributors who registered under the CPS before July 2019.

She pointed out that at that date, the commission was able to deploy an enhanced registration system which had inbuilt controls and requirements that met the minimum thresholds set by the National Identity Management Company (NIMC) for registration of individuals under the scheme.

According to Usoro, the development meant that the “contributors that registered before July 2019 did not meet this minimum threshold”.

She said, “So the data recapture exercise has been instituted to afford those contributors the opportunity to bring their records up to date.”

Also commenting on the development, Commissioner Technical Department, PenCom, Mr. Anyim Nyerere, clarified that the essence of the exercise which would be fully escalated by January was to ensure that all contributors under the CPS has an updated information with the commission as well as the Pension Fund Administrators (PFAs).