FG To Address Outstanding Pension Liabilities

Pension-protestAll outstanding pension liabilities of the Federal Government inherited by the present administration will be addressed in spite of the scarce resources available, President Muhammadu Buhari assured yesterday.

Giving the assurance while declaring open the two-day World Pension Summit holding at the Transcorp Hilton Hotel in Abuja, the president said the National Pension Commission (PenCom) has been asked to step up its enforcement drive to ensure full compliance by the public and private sector institutions in line with the enabling law.

President Buhari stated that the summit with theme: “Pension Innovations: The African Perspective”, was a welcome development as it brought together pension professionals around the world to discuss and exchange ideas on strategies on the much needed private sector funding.

He noted that the Contributory Pension Scheme (CPS) has eliminated corruption and stabilised the pension system.

The president further stated that it is globally acknowledged that pension matters occupy a strategic space not only as a vital component of social security, but also as a vehicle for nation building