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Chuks Udo Okonta
Employers should consider the Contributory Pension Scheme (CPS) as an
important tool to motivate their employees, experts have canvassed.
A delegate at the ongoing National Conference, Paul Enebeli, while responding
to questions on how to reposition the scheme, in Abuja, said employers
especially governments should motivate workers through the scheme to get more
from them.
He canvassed the need for employers to increase their contributions, adding
that workers will put in more efforts when they know that their future is
secured at retirement.
Managing Director Stanbic IBTC Pension Managers, Demola
Sogunle, said the scheme is one of the best things that put in place for the
wellbeing of workers.
He said the scheme has helped to provide a secured future
for workers at retirement, adding that workers need not to adjust their age any
more as there is something to sustain their lifestyle at retirement.
He called on workers to demand compliance from their employers as their
future is determined by what they contribute.
He said: “Those who are presently contributing are in good companies, their
future is assured, and some people are working on their behalf to ensure that
when they stop receiving salary, they can maintain their living standard.
“It is because of the contributors we do investment strategies, work hard daily,
so that they can have something to fall on when they stops working. It is when
people stop working they become more vulnerable and that is when we come in.
Contributors should be rest assured, for they have nothing to fear.”
He said the new pension system has a strong internal mechanism, and there
is no story, adding that on monthly bases those who have contributed collect
their pension without hassles.
“Those who have witnessed the scheme recognised that the scheme is one of
the best things to have happened in Nigeria. This scheme is one of the unsung
reforms former President Olusegun Obasanjo, bestowed on Nigerians.
“People are yet to come to full realisation that it takes a lot to come
from N2 trillion unfunded pension liability to N4 trillion assets in a period
of eight years. Those working should make sure their employers are contributing
so that when they retire they will be able to sustain their lifestyle.
“With the scheme, once you are 50 years, you should retire. People need not
to adjust their age anymore. People adjust their ages because they are not sure
of their future. But with the scheme, once a worker is tired he or she should
retire,” he said.
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Acting DG PenCom, Chinelo Anohu-Amazu
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Executive
Secretary Pension Fund Operators Association of Nigeria (PenOp), Susan Oranye, said the contributory
pension scheme remains one of the best things to have happened in country in
recent years, adding that the scheme has instilled blighter future for workers.
She urged
employers to consider pension system as a Corporate Social Responsibility (CSR)
which helps in boosting workers’ morale.
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