Pension Reform Act 2004 one of best things in Nigeria’s history – PenCom

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Chuks Udo Okonta

The National Pension Commission (PenCom) has said one of the best things that has happened in Nigeria’s history is the passing of Pension Reform Act (PRA) 2004.

The Director-General of PenCom Ms. Omolola Oloworaran, said this in Lagos, noting that the PRA 2004, resolved many years of delays associated with the Defined Benefit Scheme (DBS).

She submitted that the drive behind Pension Revolution 2.0 is that CPS has been good, because as at today retirees are collecting their benefits as at when due.

“Now this next phase, we are moving into, which I call Pension Revolution. 2.0 is one where we are building on what has already been established, making the scheme stronger and clearing all liabilities,” she said.