Managing Director/Chief Executive, FUG Pensions, Usman Suleiman (3rd Left) with Prof Patience Akpan-Obong, Conference Facilitator, E-Governance, Covenant University (m) and the Company Secretary/Legal Adviser, FUG Pensions (4th Right) at the just concluded E-Governance Conference held in Ota, Ogun State recently.
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Chuks Udo Okonta
Future Unity Glanvills Pensions Limited (FUG Pensions) has again demonstrated its Corporate Social Responsibility (CSR) gesture, by acting as the major sponsor of the 2017 edition of e-Governance Conference organised by the Covenant University, Ota, Ogun State.
The PFA is known for its active roles in CSR by sponsoring good initiatives that can aid the growth and development of the society, thus using the medium to spread the gospel of the new pension scheme in the country.
Speaking on ‘The Role of Information Technology (IT) in Pension Industry’ at the conference, which took place at the African Leadership Development Centre of the University on 7th to 9thJune 2017, the Managing Director, FUG Pensions, Usman Suleiman, said his firm values good governance, especially when such governance is driven by IT; saying, the conference is coming at a time the country needs change in governance to, not only exit the current recession, but to also eradicate all manners of sharp practices in civil service.
Suleiman stated that the tremendous growth recorded in the Contributory Pension Scheme (CPS) was attributable to the vibrant role of Information Communication Technology (ICT) in pension service delivery, adding that the tripartite arrangement between the National Pension Commission (PenCom), the Pension Fund Custodians (PFCs) and Pension Fund Administrators (PFAs) guarantees the security of the over N6 trillion pension funds. This, he said, is a major and unique characteristic that differentiates the old scheme, where several frauds cases were recorded, to the new scheme.
“IT plays an integral role in prompt service delivery in pension industry and it’s responsible for why pension operators are able to manage over N6 trillion Retirement Savings Account (RSA) holders without having a single fraud record since the inception of CPS in 2004,” he said.
However, he charged other sectors of the economy, including Federal and State Government parastatals to take a cue from the pension industry by automating all their processes, saying, this, if done, will checkmate excesses in the governance system.
Managing Director/Chief Executive, FUG Pensions, Mr. Usman Suleiman (l) with participants at the just concluded E-Governance Conference held in Ota, Ogun State recently.
Speaking in the same vein, Executive Secretary, Jigawa (State & Local Governments) Contributory Pension Scheme Board, Comrade Suleiman Adamu Kiyawa, said, the success recorded by his Board was due to the manner the State was able to drive its pension system through proper adoption of IT, noting that through this process, theSstate is able to eradicate ghost workers and pensioners, thus, saving cost for Jigawa State Government.
He said the State is one of a few states that have no outstanding pension, adding that, Jigawa State has paid N12 billion pension benefits to beneficiaries between May 2015 and May 2017.
The State, since automating its pension system, according to him, has and is paying pension benefits on 8th and 9th of every month, a feat he attributed to dedication of the State to embrace IT in its pension system for transparency and accountability.
He applauded FUG Pension, as a strong PFA with outstanding service delivery as it is one of the accredited PFAs that are providing services to Jigawa State CPS Board. He urged the Company to keep the good work and improve on its service delivery where necessary.
Speaking on FUG Pensions, the Conference Facilitator, Professor Patience Akpan-Obong said that FUG Pensions has been on the frontline in ensuring the success of the annual conference for three years running. She added that apart from being a very senior conference partner, FUG Pensions has proved its mettle as a reliable pension fund administrator in the pension industry as she urged institutions to also strive to benefit from the quality services offered by the PFA.
Professor Akpan-Obong, thanked FUG Pension for sponsoring the event, and presented a plaque to the Managing Director of the Company, Mr. Usman Suleiman, to appreciate the kind gesture of the PFA.
Licensed by the National Pension Commission (PenCom) in 2007, as a pension fund administrators, FUG Pensions is one of the frontline PFAs with over N52billion pension fund Assets under management subscribed by over 120,000 Retirement Savings Accounts (RSA) holders and retirees.
