Monday 5th of October, in Abuja His Excellency President Muhammadu Buhari declares open the second edition of the World Pension Summit in Africa hosted by the National Pension Commission (PenCom) of Nigeria which partners with the World Pension Summit headed by Harry Smornberg.
Pension is and indeed must be a legitimate right of all workers. It is a deferred payment, which both the workers and employers must set aside so that workers at old age will not be living on some charity. The truth is that every working woman and working man must get fatigue one day; senility must eventually replace today's abundant energy. Hence the need to prepare for the future by setting aside some funds that will at least meet the subsistence needs of the aged workers. The only sustainable safe guard against workers being vulnerable to corrupt practices is a functioning pension system. The challenge lies in how to make this principle work in Nigeria and Africa as a whole.
Former President Goodluck Jonathan signed the Pension Reform Bill 2014 into law The new law, which is meant to govern and regulate the administration of the uniform pension scheme for both public and private sectors in Nigeria, repeals the Pension Reform Act, No.2, 2004 and features new clauses that include the power vested in the pension commission to institute criminal proceedings against employers for persistent refusal to remit pension contributions.
The summit which ended today 6th october 2015, recorded a great success as delegates, speakers and partners gave their for the summit
No comments:
Post a Comment