Head of Service tasks committee on life assurance scheme on best practices

Head of Civil Service of the Federation (HCSF), Dr. Folasade Yemi-Esan has charged members of the Committee on the implementation of Group Life Assurance Scheme for Federal Government employees to bring their wealth of experience to bear on the assignment.
 
She mandated the committee to strengthen the operation of the scheme and ensure the full realisation of its overall objectives and goals.
 
Yemi-Esan said this during the inauguration of the Committee in Abuja.

Members of the Committee included the Permanent Secretary (SWO), OHCSF as Chairman; Director (ERW); OHCSF – Member; Director (ODD), OHCSF – Member; Director (IPPIS), OHCSF – Member; Director (EM), OHCSF -Member; Rep. of House Committee on Insurance and Actuarial Matters –Member; Rep. of Accountant-General of the Federation-Member; Rep. of PenCom -Member; Rep. of NAICOM –Member; Rtd Permanent Secretary-Member; Rtd Director (ERW) –Member and Deputy Director (Benefits Administration), OHCSF- Secretary.

The Pension Reform Act 2004, section 9 sub-sections 3, repealed in 2014 provides that every Employer shall maintain a Group Life Insurance Policy in favour of each employee for a minimum of three (3) times the total annual emolument of the employee, and the premium shall be paid not later than the date of commencement of the cover.
   
The Federal Executive Council on 20th February approved that Head of Civil Service of the Federation to coordinate the procurement of Group Life Assurance Cover service-wide.