L
LequteMan
Guest
Nigeria- The Managing Director and Chief Executive Officer, ARM Pension Managers Limited, Mr. Sadiq Mohammed, in an interview with the Punch says many states are not complying with the Contributory Pension Scheme.
According to him, many people in times past were not sure if the new scheme would work but now, people see that it works.
"Many have collected their pensions after retirement. This business is very straight forward in the sense that at the point of retirement, you collect your pension. You can either go into programme withdrawal or annuity. All processes in the scheme are automated compared to the past where you had to queue up to a lot of documentation and after that, it would be decided when to call you back for other processes."
"Another thing is that there have not been fraud cases unlike what you had in the past. But there is suspicion. The aspect that I can say we need to improve upon is getting the states to comply.
"Most state governments are not complying with the scheme. We have not done enough to educate them, show them and their employees the benefits so that they can take advantage of the CPS. It is to the benefit of government employees, the governments have to realise that they exist for the people. One of the ways to help your people as a state governor is to secure their pensions so that when they are old, they will be proud of what they have done when they were still in active service.
#Nigeria #ARM
According to him, many people in times past were not sure if the new scheme would work but now, people see that it works.
"Many have collected their pensions after retirement. This business is very straight forward in the sense that at the point of retirement, you collect your pension. You can either go into programme withdrawal or annuity. All processes in the scheme are automated compared to the past where you had to queue up to a lot of documentation and after that, it would be decided when to call you back for other processes."
"Another thing is that there have not been fraud cases unlike what you had in the past. But there is suspicion. The aspect that I can say we need to improve upon is getting the states to comply.
"Most state governments are not complying with the scheme. We have not done enough to educate them, show them and their employees the benefits so that they can take advantage of the CPS. It is to the benefit of government employees, the governments have to realise that they exist for the people. One of the ways to help your people as a state governor is to secure their pensions so that when they are old, they will be proud of what they have done when they were still in active service.
#Nigeria #ARM
