Varsity pension nets N12.5bn, says pension boss

Photo: INFOGUIDENIGERIA

The Nigerian University Pension Management Company Limited (NUPEMCO) has netted in the sum of N12.5billion as a contributory pension from university staff in less than two years.

Leader of the NUPEMCO delegation, Mr. Aliyu Atiku, who disclosed this yesterday when the firm’s officials paid a working visit to the Minister of Education, Prof. Adamu Adamu, in his office in Abuja, expressed delight that the universities were responding positively to the call for investment in and ownership of NUPEMCO.

He also expressed satisfaction that the Academic Staff Union of Universities (ASUU), the Principal Partner, being owners of the majority shareholding, was responding positively to NUPEMCO, in terms of contributions by its members.

While lamenting the low cooperation of some universities, Atiku appealed to the minister to intervene and ensure that the entire universities in Nigeria invest in NUPEMCO.

Responding, Adamu charged NUPEMCO to treat the retirees equally, calling on the leadership to use contributions judiciously to ensure that retirees start receiving their pensions immediately after retirement.

He further challenged NUPEMCO to be transparent in its administration of pension funds, so that when others see the seriousness of NUPEMCO as a viable Pension Fund Administrator (PFA), they would have no choice, but join.

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