PENCOM assures pensioners of brighter future

Nigeria set to host World Pension Summit

Despite Nigeria’s current economic challenges, the National Pension Commission (PenCom), has assured pensioners of a brighter future.

Speaking at a World Press Conference, in Lagos, yesterday, the Director-General, PenCom, Mrs.Chinelo Anohu-Amazu, expressed concerned over the challenges pensioners go through in Nigeria.

These challenges, she stated further, is what informed a conference that will hold next month.

According to her, the conference with the theme: “Pension Innovations: The African Perspective,” is aimed at driving into greater prominence, the revolutionary strides and achievements of African governments in the area of pensions and social benefits.

“It is expected that this year’s summit (World Pension Summit), would bring together professionals and highly experienced resources from across the world in the areas of investment, actuarial science, insurance, coverage extension, and other pension related fields,” she stated.

Speaking further, she noted that the theme of the summit is selected based on the need to lay a solid foundation for the establishment of enduring pension systems in Africa, and chart a way to effectively channel the pension funds to sustainable investments such as railways, power, agriculture and real estate.

“It was envisaged that this would serve as a catalyst to actively stimulate economic development across countries in the African continent,” she said.

Mrs. Anohu-Amazu said the summit would also discuss the most appropriate strategies for leveraging pension funds in the continent to expedite the execution of critical infrastructure projects.

She noted that, emerging insurer role has been dedicated to address the challenges of the roles of insurance and how to deliver long term retirement outcomes.

“As you are fully aware, Africa today faces huge infrastructure deficits,” she said.

She, however, noted that access to financial services has remained a huge challenge across the continent due to low awareness of the existence of these services by those being served, coupled with the absence of clear understanding of customer preferences on financial products and services.

Besides, the World Pension Summit (WPS) is one of the world’s premier league platforms for pension professionals. It provides a top-level environment for the exchange of business insights on essential “crossroads” in pensions.

She said the event would hold on 27-28th September, at the Transcorp Hilton Hotel, Abuja.

On his part, the Co-founder, “World Pension Summit”, Eric Eggink, said WPS “Africa Special” is most eager to be the platform of learning and getting inspired.

“We think that new developments can only be fostered with meeting and sharing information and expertise. Understanding barriers and learning from each other how to overcome them. This can help Africa and Nigeria grow faster and create a better world with growth in prosperity, education, safety and stability,” he said.