Federal Government through the National Pension Commission said it has started of the final preparations for the 2024 Online enrolment exercise, aimed at prospective retirees for 2025.
Recognizing the importance of starting the exercise early, the federal government advised all ministries, departments, and agencies to avoid any last-minute rush that could disrupt the enrollment process and negatively impact the retirees’ transition into their new phase of life.
The acting Director-General of the National Pension Commission, Omolola Oloworaran, disclosed this at a workshop organised by the commission to kick start the 2024 online enrolment applications for pension desk officers of Federal government treasury-funded MDAs on Monday in Abuja.
This workshop signifies the start of the final preparations for the 2024 Online Enrolment Exercise, aimed at prospective retirees for 2025.
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Nigeria currently has 7,348,028 or 10.58 per cent of the total working population registered under the National Pension Scheme. In the second quarter of 2024, the commission said it paid N1.1tn to 129,435 life annuity applicants, highlighting increases in pension payouts.
Speaking in her address, the acting DG stated that this exercise aims to collect accurate data to assess the Accrued Pension Rights of prospective retirees, enabling the Federal Government to make the necessary budgetary provisions.
She added that the commission has made significant progress by automating the enrollment process, introducing an Online Enrolment Application that facilitates seamless registration, verification, and enrollment of retirees.
Oloworaran said, “At the National Pension Commission, we hold firmly to our statutory responsibility of ensuring a seamless pre-retirement verification and enrolment process for employees of Federal Government Treasury-funded MDAs. Each year, we embark on this exercise to gather accurate data for determining the Accrued Pension Rights of prospective retirees, so that the Federal Government can make the necessary budgetary provisions.
“Today’s session is not just a routine gathering; it is part of PenCom’s commitment to building the capacity of stakeholders, specifically you, the Pension Desk Officers, whose roles are indispensable in this process. Since 2021, we have made significant strides by automating the enrolment process, and introducing an Online Enrolment Application that allows seamless registration, verification, and enrolment of retirees.
“This system, comprising the Retiree, MDA, PFA, and PenCom modules, represents the future of pension administration in Nigeria. As PDOs, you are the linchpin in this process, ensuring that retiree information is properly uploaded and verified. Hence, this workshop aims to equip you with the skills and knowledge needed to effectively use the application and address any challenges that arise during the enrolment process. We are also here to confront the issues of the past head-on.”
The acting DG stated that the workshop aims to offer practical solutions for pension desk officers when faced with application challenges.
She also reassured that the development of a new, more efficient enrolment application ensures a user-friendly and seamless experience for all stakeholders has commenced.
“We understand that some challenges, like application downtimes, have occasionally hindered the process, particularly during last-minute rushes. I am pleased to inform you that we are actively working on developing a new, more efficient enrollment application that will provide a user-friendly and seamless experience for all stakeholders,” she said.
The DG further noted, “I am pleased to report that significant progress has been made by all critical stakeholders to clear the outstanding pension liabilities and put in place long-term solutions that will prevent future delays in funding.
“Despite some setbacks, including delays in the release of funds for retirees’ accrued rights, I am confident that these issues will soon be resolved. Today is not just about resolving technical issues; it is also about reaffirming our shared responsibility to Nigeria’s retirees, who deserve timely and seamless access to their benefits.”