The National Pension Commission (PenCom) has announced that significant progress has been made by all critical stakeholders in clearing the outstanding pension liabilities of public sector retirees.
Despite facing setbacks, including delays in the release of funds for retirees’ accrued rights, PenCom is actively working to implement long-term solutions that will prevent future delays in funding.
During a workshop on the online enrolment application for Pension Desk Officers (PDOs) of Treasury-funded Ministries, Departments, and Agencies (MDAs) in Abuja, the Acting Director-General of PenCom, Ms. Omolola Oloworaran, provided insights into these developments. She emphasized the Commission’s commitment to building the capacity of stakeholders, particularly PDOs, whose roles are essential in the pension management process.
Oloworaran noted that the workshop marks the beginning of final preparations for the 2024 online enrollment of prospective retirees for 2025. She highlighted PenCom’s responsibility in ensuring a seamless pre-retirement verification and enrollment process for employees of Federal Government Treasury-funded MDAs.
Every year, the Commission conducts this exercise to gather accurate data necessary for determining the accrued pension rights of prospective retirees. This data collection allows the government to make the necessary budgetary provisions to ensure timely payments to retirees.
As the Commission continues to enhance its processes and systems, stakeholders can expect improvements aimed at providing a more efficient and user-friendly experience in pension management.