PenCom worries over low turnout on pension verification

Adebayo Obajemu

The National Pension Commission (PenCom) has expressed fear over the low turnout in the ongoing mandatory verification and enrolment exercise for civil servants with accrued pension rights, and has moved to enforce compliance as the deadline draws near.

After months of planning and a phased launch, participation has fallen short of expectations, raising fears that thousands of workers risk delays in accessing their retirement benefits.

The exercise, coordinated by PenCom, is for employees of treasury-funded Ministries, Departments and Agencies (MDAs) who were in service before June 30, 2004. It actually commenced on February 2 and is scheduled to end on July 31. Head of the Civil Service of the Federation, Didi Esther Walson-Jack, directed all MDAs to ensure full compliance.

Under the directive, MDAs are to upload details of eligible staff, while affected workers must complete their enrolment with their Pension Fund Administrators (PFAs).

Officials warned that failure to participate could stall the computation of accrued pension rights and delay payments at retirement.