PenCom Disowns ASSOPEP, Warns Group Not Authorised to Process, Pay Retirement Benefits

James Emejo in Abuja

The National Pension Commission (PenCom) has said the Association of Pension Desk Practitioners of Nigeria (ASSOPEP) has no affiliation with the pension industry and lacked the authorization of the commission to engage in pension transactions.

The commission also pointed out that Licensed Pension Fund Operators (LPFOs), who are statutorily mandated to undertake the processing and payment of retirement benefits, are not in any way associated with ASSOPEP.

PenCom, in a statement issued by the management and made available to THISDAY, insisted that the association had been engaged in illicit activities in the industry and warned members of the public not to patronise them in their own interest.

The statement noted that, “PenCom has particularly noted ASSOPEP’s claims of resolving pension issues and assisting retirees in securing their retirement benefits.

“The general public is kindly requested to note that the claims by ASSOPEP are entirely false as the association has no affiliation with the pension industry nor authorization of any kind whatsoever from PenCom.”

The commission added, “PenCom, therefore, urges the general public to be cautious of any promise or claim made by ASSOPEP regarding pension and retirement benefits or any other matter relating to the pension industry in Nigeria.

“The Commission especially strongly advises workers, retirees, pension desk officers and everyone approached by the Association with claims of consulting with their Pension Fund Administrators (PFAs) and PenCom for guidance and assistance in respect of their retirement benefits to exercise caution as any interaction with the Association is at the individual’s own risk.

“PenCom has, in the meantime, reported the activities of ASSOPEP to law enforcement agencies for appropriate action.”