By 
Aisha Dahir-Umar, the Director-General of the National Pension Commission (PenCom), has affirmed the commission’s commitment to safeguarding contributors’ interests as funds continue to grow within the Contributory Pension Scheme.
Speaking at the 2023 Journalists’ Conference in Lagos, the director-general, represented by Abdulqadir Dahiru, the Head of Corporate Communications Department, emphasized PenCom’s proactive regulatory approach. This approach has not only bolstered oversight and governance of pension funds but also enhanced transparency, accountability, and the protection of pension contributors’ interests.
Dahir-Umar highlighted that pension assets witnessed a substantial increase of N1.77 trillion in the first half of 2023, growing from N14.99 trillion in December 2022 to N16.76 trillion by the end of June 2023. The membership base also expanded, with 146,920 new contributors joining. This growth pushed the total membership from 9.86 million members at the end of 2022 to over 10 million members by June 2023.
The theme of this year’s workshop, ‘Transforming Service Delivery in the Pension Industry: Strategies for Improving Efficiency and Customer Satisfaction’, was commended for its timeliness and significance. It underscores PenCom’s dedication to continuously enhancing services within the pension industry, with a focus on providing contributors and retirees with exceptional experiences.
Dahir-Umar emphasized that the Contributory Pension Scheme (CPS) has enabled both public and private sector workers to cultivate retirement savings throughout their careers, thus fostering financial security during their retirement years.
The establishment of the Consumer Protection Department was highlighted as a testament to PenCom’s determination to prioritize service delivery. This department underscores PenCom’s commitment to providing the utmost care and attention that Retirement Savings Account holders rightfully deserve.
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