PenCom mulls academy for human capacity devt

Plans are underway by the National Pension Commission (PenCom) to establish a pension academy for continuous human capacity development in the sector.

Head of Corporate Communication, PenCom, Abdulkadir Dabir, revealed this in Lagos, at a conference organised by the commission for journalists.

Speaking on the topic, ‘Strengthening Regulatory Oversight for Improved Service Delivery in the Pension Industry’, he said the move was to address part of the commission’s service challenges in the industry.

While highlighting how regulatory measures could effectively bolster the quality of services provided in the pension sector, he noted that regulatory oversight was pivotal in maintaining transparency, fairness and efficiency in the pension system.

According to him, PenCom’s proactive regulatory approach has strengthened the oversight and governance of pension funds, promoting transparency, accountability and safeguarding the interests of pension contributors.

In addressing some of the service challenges in the industry, Dabir noted that the commission has created a consumer protection department to promptly and adequately address service issues, as well as promote service excellence in the industry.

With continuous stakeholder engagements by PenCom and operators, he said the commission has also put in place strict enforcement of the guidelines on operations of branches and service centres, as well as circular on service delivery by Pension Fund Administrators (PFAs).

For improved service delivery, he added that it was pertinent for the overall success and sustainability of the Contributory Pension Scheme (CPS), considering its retail sector.