Stakeholders within the pension sector have called on the newly appointed Director-General of the National Pension Commission, Omolola Oloworaran, to prioritize the timely disbursement of retirement benefits.
According to The PUNCH, this appeal comes in the wake of Oloworaran’s recent assumption of office, where she vowed to explore innovative strategies for advancing the implementation of the Contributory Pension Scheme.
Omolola Oloworaran, appointed by President Bola Tinubu in July, is awaiting confirmation from the Nigerian Senate to officially take on the role.
Her appointment comes with high expectations, particularly in addressing the long-standing challenges faced by retirees in accessing their entitlements.
The Director of the Centre for Pension Rights Advocacy, Ivor Takor, highlighted the critical mission set out in the Pension Reform Act of 2014, which established PenCom.
He underscored the importance of ensuring that all public sector workers, whether at the federal level, in the Federal Capital Territory or within state and local government councils, receive their pension benefits without undue delays.
“While welcoming her to the industry, I want to emphasize the core objectives of the Pension Reform Act 2014, under which PenCom was established and under which she has been appointed: To ensure the smooth operation of the Contributory Pension Scheme and to guarantee that everyone who has worked in the public service—whether at the federal level, in the Federal Capital Territory, or within states and local government councils—receives their retirement benefits promptly,” Takor stated.
He further pointed out that delays in benefit payments have been a persistent issue, not due to the inefficiency of previous PenCom leadership, but because of a lack of commitment and compassion from successive federal and state governments.
“Many public servants, including those at the local government level, have retired and gone over one or two years, or even more, without receiving their pension benefits,” Takor lamented.
Takor also stressed that Oloworaran’s most significant challenge, like those before her, will be advocating for prompt payments with state governors and local government chairmen, especially following the Supreme Court’s ruling that granted full financial autonomy to the 774 local governments across Nigeria.
“Her primary responsibility is to ensure that retired federal public servants, including those in the FCT, receive their benefits as and when due. A critical issue to address is the release of funds for the payment of accrued pension rights, which is the main reason federal retirees are not receiving their retirement and death benefits on time,” he explained.
Takor added that Oloworaran must also tackle the issue of unequal treatment between pensioners under the CPS and those covered by the old Defined Benefit Scheme.
This disparity, he noted, contradicts both Section 173(3) of the Nigerian Constitution and Section 39(3) of the Pension Reform Act 2014.
“I trust that the President, who appointed her, wants her to succeed, and I believe she will receive the necessary support and backing to improve the lives of retirees and pensioners,” Takor concluded.
In a related statement, the Chairman of the NTA Contributory Pensioners, Gbadebo Olatokunbo, emphasized that Oloworaran’s primary agenda should focus on addressing the concerns of contributory pensioners.
He pointed out that PenCom is legally mandated to safeguard the interests of contributory pensioners and must be held accountable for any challenges they face.
“The law of the Federal Republic of Nigeria has mandated the responsibilities of the contributory pensioners to PenCom, and the organisation shall be held liable for any plights that befall contributory pensioners in Nigeria. Therefore, the new boss must see to the sufferings of the contributory pensioners under withdrawal savings or annuities now,” Olatokunbo stated in an interview with The PUNCH.
As Oloworaran embarks on her new role, the expectations are high for her to address these critical issues and to ensure that the pension system serves the needs of all retirees effectively.
