Chuks Udo Okonta
President
Goodluck Jonathan has called on stakeholders in the pension industry across the
globe to constantly dialogue to bolster management frameworks and practices in
their respective jurisdictions.
He disclosed
this today at the declaration of the on-going World Pension Summit in Abuja. He
noted that dialogue is imperative as the industry helps in shaping lives.
“It is
imperative that stakeholders in this life shaping-industry engage constantly in
dialogue to bolster management frameworks and practices in their respective
jurisdictions.”
He stressed that
the summit has come at a time the Nigerian economy is witnessing transformation
in all facets, adding that the Pension Reform Act (PRA) was enacted by the
Olusegun Obasanjo’s administration to address the recurrent challenges
experienced in the administration of pensions and to enhance efficiency in the
system.
Jonathan said in
10 years of sustained policy innovation and meticulous management, the nation’s
pension industry has transited from a deficit of $12.9 billion to over $27.2
billion by March this year.
He noted that
the newly signed pension law will help facilitate the creation of fitting
instruments through which pension assets can be best invested for infrastructure
and real estate development.
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