PenCom may help solve Abia pension problems – Ikpeazu
[From BONIFACE OKORO, Umuahia]
Abia Governor, Dr. Okezie Ikpeazu has expressed hope that the Contributory Pension Scheme of the National Pension Commission (PenCom) would help solve the pension problems in the state as it would provide reliable data.
Ikpeazu who spoke when he received in audience, a delegation of the Commission, led by its National Commissioner (Technical), representing South East and Directors of the National Pension Commission at Government House, Umuahia, also expressed happiness that PenCom has a proposal to involve the informal sector through establishment of a micro pension scheme for Small & Medium Scale enterprises.
The Governor noted that when both schemes become operational in Abia, it would make workers to look forward to retiring happily and stabilize the economy and give hope to the Abia artisans.
He promised that his administration would integrate civil servants in the state into PenCom while he would personally lead in serious advocacy about the micro pension scheme which, he said, would assist the artisans a great deal.
Ikpeazu, therefore, directed the State Head of Service, Sir Onyii Wamah, and Commissioner for Finance, Dr. Aham Uko, to come up with the technical advice on the framework with which the scheme would commence in the state as soon as possible.
He explained that full implementation of the Contributory Pension Scheme was delayed owing to some challenges, but assured that his administration was now determined to implement the scheme in the State.
According to the Governor, one of the greatest problems of the State has been wage bill management. He, therefore, expressed the hope that the Contributory Pension Scheme would solve the pension problems as it would provide reliable data.
He commended Dr. Nyerere Anyim for the good work done in the scheme and said that Abia was proud of him.
Earlier, the National Commissioner (Technical), representing South East at the Pension Commission, Dr. Nyerere Anyim, said the PenCom team was in the State as part of their tour of the South East States aimed at creating awareness on the need to implement the Contributory Pension Scheme.
He commended the Governor’s efforts towards implementation of the contributory pension scheme and said, having achieved the milestone of enacting the Pension Reforms Law in 2017, it was needful for the State to commence full implementation of the scheme.
Dr. Anyim assured that he was willing to deploy staff of PenCom to help Abia to kick-start the implementation of the scheme, revealing that if that happens, Abia would be the first in the South East to enroll in the scheme.
He enumerated the benefits of participating in the scheme to include reducing the pension burden on government as there would be shared responsibility among government, civil servants and pension managers, as well as eliminate the ghost worker syndrome.
He added that government could access funds from the PenCom for strategic investment, while the micro pension plan would give the informal sector access to funds, adding that Aba was chosen as the hub of SME in the South East for the plan.
Also speaking, a member of the delegation and a Director at PenCom and the Chief Executive Officer of the Nigeria Stock Exchange, Mr Oscar Onyema, highlighted the advantages accruable to the State if it joins in the Scheme as it could provide Abia the platform to use the instrumentality of the issuance of bonds to raise funds for development from the capital market.
Commissioner for Finance, Dr Aham Ukoh, his counterpart in the Ministry of Health, Dr Joe Osuji, Chief of Staff to the Governor, Professor ACB Agbazuere, State Head of Service, Sir Onyii Wamah and Permanent Secretary, Bureau of Establishment and Pensions, Mrs Chioma Onyegbu, witnessed the event.
