Nigeria will host the third edition of the World Pension Summit “Africa Special” (WPS ‘‘Africa Special’’), on 27 – 28 September 2016 at the Transcorp Hilton Hotel Abuja, Nigeria.
This was made known at the WPS ‘‘Africa Special’’ press conference which held at the Zen garden, Lagos. The press conference was organized by PenCom in partnership with Pension and Investments/World Pension Summit, Amsterdam to kick start activities for the successful hosting of the 3rd edition of the WPS “Afrrica Special”, create awareness as well as galvanize attendance for the summit.
The World Pension Summit (WPS) is one of the world’s premier league platforms for pension professionals.
WPS provides a top-level environment for the exchange of business insights on essential “crossroads” in pensions. Every year, over 500 professionals from more than 45 countries participate and debate relevant innovations on retirement issues.
In its 12 years of existence, PenCom has painstakingly built a strong, transparent and dependable pension system in Nigeria, which is overseen by a dynamic and efficient regulatory structure. Its efficient regulation has enabled the generation of a pool of long term funds in the region of N5.73 trillion as at the end of June 2016. In 2014, the National Pension Commission (PenCom) partnered with WPS of the Netherlands to deliver the first ever World Pension Summit “Africa Special” (WPS “Africa Special”). This initiative has provided a springboard for Nigeria and indeed other African countries to exchange and harness the ideas of foremost pension experts and investment managers globally to address the challenges of the pension industry on the continent.
For Nigeria in particular, WPS “Africa Special” provides a unique opportunity that would enable it improve the sector, derive appropriate channels of investment that leverages Nigeria’s fast growing pension funds for real sector development.
The earlier two editions (2014 & 2015) have been respectively adjudged a huge success, as they brought together pension regulatory authorities from major African jurisdictions, leading players from Africa’s pension industries, key figures and thought leaders from international business and finance and captains of industries to exchange expertise and increase international cooperation on the African continent. The Summit also provided participants with insights on how to channel pension funds towards tackling the huge infrastructure deficits in Africa, enhance securitization and create viable outlets for pension fund investments.
The theme of this year’s summit- “Pension Innovations: The African Perspective” has been carefully chosen as PenCom seeks to drive into greater prominence, the revolutionary strides and achievements of African governments in the area of pensions and social benefits. PenCom also seeks to galvanize not only the Nigerian pension system but also those of other African countries towards sustainability and socio-economic impact. The WPS “Africa Special” 2016 will focus on developments within the pension space in Africa and how takeaways from previous editions has assisted various African countries improve their pension uptake and the quality of services rendered by administrators and regulators of pension in their jurisdictions. Also it will explore topical issues such as: pension innovations; the dynamics of pension investment (ALM, new asset classes, infrastructure investments); ESG for pension funds & impact investing; financial inclusion covering insurance, financial literacy, micro pensions & social security; the impact of new technology on communication; actuarial valuations and their impact on benefits, policy & governance.
In order to stimulate and encourage African scheme owners and funds to work on professionalizing retirement practice in Africa, World Pension Summit and the National Pension Commission (PenCom) will host the second edition of the Africa Pension Awards. Setting the benchmark for Africa’s pension fund industry is the main goal of the Africa Pension Awards. The awards ceremony is an integral part of the Summit. It is the ultimate reward for excellence, and a huge stimulus to ensure that Africa’s pensions industry remains innovative.
The inaugural Awards in 2015 saw RBA Kenya, NAMFISA Namibia and PenCom Nigeria being honored for their various roles in the development of the sector on the continent.
The 2016 Awards aim to recognize innovations in Risk Management and Communication Strategy for Improved Customer Service Delivery, Socio-economic Impact of Contributory Pension Systems, Extension of Contributory Pension Coverage and best Corporate Governance Practices.
PenCom welcomes all from across the globe to another high impact, insightful and professional gathering.
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