TUC endorses use of mobile phone for pension transactions

Mr. Bobboi Bala-Kaigama, the President of Trade Union Congress (TUC), says the union has endorsed the use of mobile telephone for pension transactions.

Bala-Kaigama disclosed this on Friday in Abuja in an interview with the News Agency of Nigeria (NAN).

He said that the union endorsed the use of the phone for contributors and administrators, adding that, “ it will quicken pension activities; will make the scheme easily available for almost everybody both in rural and urban areas.’’

Bala-Kaigama, however said that whatever technology adopted, should have sufficient security that would safeguard pension funds.

“Yes we encourage the use of current technology, but again we implore the players that they should use only security tight technology for pension transactions,’’ Bala-Kaigama said.

He said that TUC, Nigeria Labour Congress, Nigerian Union of Pensioners, are board members of the Pension Commissio that monitor and ensure that nothing happened to the pension funds.

The TUC boss called on the government to constitute the board, adding “the board members have not been constituted for over two years now.’’.

He stressed that the board members were the institutional frameworks that monitor, and also carry out oversight functions.

Bala-Kaigama said that the way forward for Nigeria pension, particularly the contributory pension, was for the employers to keep remitting their own contributions regularly like the employees.

He noted that prompt and regular remittances from employers would quicken the payment of retirees’ benefits.