Pension Operators to Create Awareness on CPS

Ebere Nwoji

Against the backdrop of prevailing high level of public ignorance of  the workings of the Contributory Pension Scheme (CPS), pension sector operators said they would embark on  enlightenment programme for  various stakeholders and contributors into pension scheme.

The operators said the campaign, which would mainly focus on radio program seeks to shed light on various aspects of the pension industry in Nigeria.

The Chief Executive Officer, Pension Operators Association (PenOp) the umbrella body of pension fund Administrators and custodians, Mr Oguche Aguda, said the  interviews were structured as conversations between a number of the CEOs and CIOs of pension funds within the industry, and that the  interviews delved into so many issues and topics.

“The interviews will be covering issues  such as how pension funds are invested, the history of CPS in Nigeria,  how to  access pension benefits, pension funds and SMEs, pensions and technology, understanding voluntary contributions, micro pensions, the  closed pension fund administrators, multi-fund structure of the Nigerian pension industry, safe custody of pension funds, amongst others, “he said.

Speaking on this development, the Chief Executive Officer of PenOp, Oguche Agudah said, “we felt that these interviews and conversations were necessary in order to bridge the gap between the knowledge of various stakeholders and the pension industry. We realize that pensions can sometimes seem complex, but we hope to simplify these concepts to make them better appreciated and to enlighten various stakeholders on functions of PFAs, PFCs, how pensions are invested and some of the other things that we felt people do not have a grasp on.”