Monday, 18 August 2014

NAICOM urges NLC to promote group life insurance


Daniel
Chuks Udo Okonta

The National Insurance Commission (NAICOM) has called on the Central Working Committee of the Nigerian Labour Congress (NLC) to leverage the provisions of the Pension Reform Act (PRA) 2014 to sensitized workers to demand for their rights as provided and also ensure compliance by all tiers of government and the private sector employers.

Daniel said this at the occasion of Nigerian Labour Congress Central Working Committee meeting in Enugu, stressing that the pro-activity of the NLC and its affiliates will enable workers to access the well-intended welfare provision for the Nigerian workers.

He urged the labour bodies to help workers actualise the benefit of the Pension Reform Act 2014 as it relates to compulsory Group Life Insurance and Life Annuity for the employees by the employers of all tiers of government and the private sector, as contained in section 4 subsections 5 and Section 7 subsections 1c.

He said: “The primary purpose of the relevant sections referred to is to ensure that employee dependants have succour in the event of death in the course of employment and comfort after retirement. The pension reform act 2014 is an update of the pension reform act of 2004.

“Whilst this act of parliament provides for the security of employees, it would remain a mirage or paper tiger unless conscious efforts are made to enlighten workers of their rights by respective labour unions to ensure that workers are not short-changed as a result of failure of employer to comply with the provision of the act.

“At the moment, compliance is largely effected by the Federal government whilst other tiers of government are yet to fully comply. Compliance by private sector employers will need to be monitored to ensure that workers interests are protected.”

He said the commission has enjoyed effective collaboration with the National Pension Commission (PenCom) in enforcing the relevant provisions of the Pension Reform Act, adding that the collaboration will continue.

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