Chuks Udo Okonta
Pension assets presently stand at about N3.4 trillion, the President
Pension Fund Operators Association of Nigeria (PenOp), Dave Udeanu, has said.
He disclosed this at a press parley in Lagos today Friday, adding that the
number of subscribers also peaked at 5.3 million.
He noted that pension operators are working assiduously with the National
Pension Commission (PenCom) to attract more subscribers as less than seven per
cent of the working population has embraced the scheme.
Managing Director Legacy Pension Managers Limited, Misbahu Yola, said 12
states have so far passed their pension laws, while six – Lagos, Ogun, Niger,
Kaduna, Delta and Jigawa are the ones contributing.Managing Director Leadway Pensions Limited Ronke Adedeji, on the issue of transfer window, said, a lot of work is being done, adding that transfer window is quite a complex exercise.
“On the face, it always appears very simple. People always say, ‘I want to change my Pension Fund Administrator (PFA) and move from A to B,’ but its complex from the perspective that when you are moving an account from one PFA to another certain processes need to take place and the major one is the identification process.
“We want to make sure that when you are transferring account from one
entity to the other, you are transferring correctly and that you are not
transferring somebody else’s account simply because they have common names. So
the issue of biometrics is very key.
“As such, the identification process to ensure that the transfer is secure
and correct has to take place. In Nigeria, we really haven’t sorted out
identification, but in more developed parts of the world, identification is
quite simple and straightforward. So a major criterion for us is biometrics.
There are various initiatives going on regarding biometrics,” she said.
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