Pension Commission lauds Fountain Varsity on prompt pension remittances

The National Pension Commission has commended Fountain University for prompt funding of its employees Retirement Savings Account (RSA) through their various Pension Fund Administrators (PFA)

The commendation was made during a workshop organised by the Management of Fountain University on sensitization of staff on the importance of Contributory Pension Scheme in Nigeria.

The Deputy Head, South West Zonal office, National Pension Commission, Mr. Lanre Ogedengbe, while delivering his presentation on the ‘Overview of Contributory Pension Scheme in Nigeria’ commended the Management of Fountain University for regularly funding its employees’ RSA as and when due; as mandated by the Pension Reform Act (PRA) 2014

Mr. Ogedengbe said it is incumbent on all employers to open a Nominal RSA for an employee, where he or she fails to do so within six months of employment for monthly contribution by the employer.

He added that the Commission has been meting out appropriate sanctions to PFAs, found culpable of complaints on one financial impropriety or the other.

“As much as the employers, employees, PFAs have roles to play in the pension scheme, we are also saddled with the responsibility of formulating, directing and overseeing the overall policy on pension matters in Nigeria.

“Always feel free to report any fraudulent acts by PFA, and employers through the various channels available on the Commission’s website and you can be sure we will investigate the complaints and enforce necessary sanctions and penalties,” he said.

The Vice Chancellor, Prof. Amidu Sanni, who was represented by the Dean College of Natural and Applied Sciences, CONAS, Prof. A.T Lawal enjoined all staff at the event to monitor their contributions and take advantage of the opportunities provided by the Commission on complaints.

Dignitaries at the event include the Head Stakeholders Unit, South-West Zonal Office, National Pension Commission, Mrs. Sandra Igbokwe, FUO Registrar, Dr. Kikelomo Sallee, Dean College of Management and Social Sciences, Prof. Goke Lalude, Bursar, Mrs. Silifar Ali-Balogun, among others.