Pension

Pension transfer window may berth in June 2020

Executives of PenOp

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Chuks Udo Okonta

Without any change, the much anticipated pension transfer window will commence in June 2020, Inspenonline has learnt.

Head, Corporate Communications, National Pension Commission (PenCom), Peter Aghohowa, said this at the 2019 media retreat organised by the Pension Operators Association of Nigeria (PENOP) in Lagos.

Aghohowa said the fact that a date had been tentatively fixed indicated that work was in progress to actualise the mandate.

He said that the pension operators and PenCom had been meeting and work had reached an advanced stage toward achieving the ideal.

“One thing that is critical towards this, is the Enhanced Contributor Registration System (ECRS) that was recently launched.

“That is what is making our data integrity better, coupled with the fact that we are also linked with the National Identification Management Commission on issue of National Identification Number(NIN).

“You can be sure that in a couple of months, the data we have will be integrous because it is a prerequisite for the transfer window and that is why we say we are getting closer and optimistic that we will reach the milestone,” he said.

Earlier at the retreat, Aghahowa hinted that 19 PFAs had registered over 28,000 participants for the newly launched Micro Pension Plan (MPP) for the self-employed as of October 2019.

He said the plan was introduced to have the self-employed inculcated into the pension arrangement in order to capture a large chunk of the working population in Nigeria.

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