By Dotun Akintomide
Contrary to the circulating report that the National Pension Commission (PenCom) has ordered the Pension Fund Administrators (PFAs) to pay 3% of their management fees into the Pension Protection Fund (PPF), Nigerian NewsDirect has found out that PenCom is yet to issue a directive to make it mandatory on PFAs this year.
“Though the Pensions Reforms Act, 2014 says certain amount of money should be contributed by PenCom and PFAs to the national pensions protection fund in a bid to implement minimum pensions guaranteed but this issue of paying 3% as a directive is something I’m not aware of” A top PenCom official who confided in Nigerian NewsDirect and sought to remain anonymous.
“Saying that it’s a directive that has to be complied with and if you are not complying with it you are running foul of the law is something I’m not aware of in terms of 3% PPF’s contribution to be paid by the PFAs. Even if there’s going to be something like that it’s has not been made a compulsion.” He said.
He noted that PPF is meant to help those who have issues with spread contribution, eroded investment and exhaustion of pensions funds which is expected to take care of pensioners in case there is shortfall.
It was learnt that, this would aid the implementation of minimum pension for retirees under the Contributory Pension Scheme.
Meanwhile, some of the operators had said that the 3% levy was however based on their 2015 financial records since most of them were yet to submit their 2016 accounts. According to them, the commission has ordered them to begin the payment of the levy this year in order to accumulate funds to start the payment of the minimum pension to qualified retirees.
The operators, however, complained that the 3% levy was on the high side during a meeting with the commission and pleaded with the regulator to reduce it.
While speaking recently on the funding of the Pension Protection Fund, the Director-General, PenCom, Mrs. Chinelo Anohu-Amazu, said Section 82(1) of the Pension Reform Act 2014 provided for the establishment of the fund.
She added that this would be utilised for the funding of the minimum pension guarantee for all Retirement Savings Account holders that had contributed for a number of years to a licensed PFA.
She also said the law stipulated that it should be used for the payment of compensation to eligible pensioners for any shortfall or financial loss arising from investment activities.
“The sources of funding of the PPF include an annual subvention of one per cent of the total monthly wage bill payable to employees in the public service of the federation, which shall be utilised strictly for the funding of the minimum pension guarantee,” she said.
The Pension Reform Act 2014 provided that PenCom should establish and maintain a fund to be known as the pension protection fund in respect of the guarantee minimum pension.
According to the Act, funding of the minimum guaranteed pension will be partly obtained from an annual subvention of one per cent of the total monthly wage bill payable to employees in the public service of the federation and returns from pension fund investments.
It will also be funded from the annual pension protection levy paid by PenCom and all licensed pension operators at a rate to be determined by the commission from time to time.
Bush burning responsible for fire incident at FRCN, Kaduna — Official
The Kaduna State Fire Service has said bush burning was responsible for the fire incident at the Federal Radio Corporation of Nigeria (FRCN) in Kaduna.
Assistant Commandant of the service, Ayuba Yohanna, made the confirmation on Sunday in a phone conversation in Kaduna.
According to him, the fire started from bush burning at the back of the procurement office. He said the officers on duty rushed to the scene after receiving the distress call at around 1:45 pm.
Yohanna said two offices at the procurement department were affected with no lives lost or injuries.
Recall that Mohammed Malagi, Minister of Information and National Orientation, visited the station on Friday where he promised to carry out reforms at both the radio station and NTA.
Doctors appeal to LASG on improved welfare, as 15 die within six months
The Medical Guild has appealed to the Lagos State Government to prioritise the health and lives of healthcare workers, saying 15 doctors died within six months in the state.
The Chairman of Guild, Dr Sa’eid Ahmad, made the disclosure during a news conference ahead of the guild’s forthcoming Annual General Meeting (AGM) and Scientific Conference, on Sunday, in Lagos.
The Medical Guild is the association of medical doctors under the employment of the Lagos state government.
Ahmad noted that the past year has been particularly challenging for the guild due to ongoing co-morbidities exacerbated by manpower bleed and the attendant severe overwork among members at service points and a number of members’ deaths.
“The intensity of the attendant sense of loss was probably brought to its peak with the tragic event of collapsed elevator in the General Hospital, Odan, Lagos, which claimed the life of our young colleague, Late Dr Vwaere Diaso.
“This was to be followed by end-on-end demises of some additional colleagues, sometimes, multiple over a few days,” he said.
Ahmad stressed that the sad events serve as an inescapable wake-up call to intensify vigilance towards self-care, and deepen the level of engagement with the government to prioritise the health and lives of healthcare workers in the state.
“These, afterall, are the people in whose hands the health and lives of the people are entrusted,” he said.
To address the situation, Ahmad said that the guild, through a series of emergency General Assemblies and consultations, developed a comprehensive position paper.
He said the paper drew the attention of the state government to urgently take actions to salvage the spiraling health of the health workers.
Ahmad said that the document identified the roots of the welfare problems culminating in massive exodus, and proffered practical and workable solutions.
”We had demanded short, medium and long-term solution categories to these problems, including the basic need for healthcare workers to be able to obtain much needed care themselves within the system in which they work.
”This document has indeed formed the cornerstone of highest level policy discussions with the Government of Lagos state on behalf of our members.
“It is our hope that these discussions produce policy pronouncements and actionable directives at any moment,” he said.
He disclosed that the guild, through its Office of Social Welfare, spent N21.5 million in responding promptly to some of its sick members and support for families of bereaved members in times of loss.
The Chairman said the guild had embarked on housing mortgage and automobile facilities in a bid to provide members decent accommodation and mobility to ease their commuting to work.
Ahmad commended the government for resolving all issues of stagnation and demotion of In-service trained specialists and financial implementation of same since August 2023.
Speaking on the forthcoming AGM and Scientific Conference, Ahmad said that week-long activities, which began on Sunday, would feature medical outreach, cancer awareness campaign, lecture series, among others.
Ahmad noted that tapping into these intellectual reservoirs by health policy makers and other stakeholders would yield benefits.
He said it would greatly enhance appropriate policy formulation and implementation strategies for the overall benefit of saving lives and improving wellbeing of the people.
I will embark on constant raiding of black spots in Osun — CP Isyaku Mohammed
By Ismail Azeez, Osogbo
The New Commissioner Of Police, CP Isyaku Mohammed has said the State Command will embark on constant raiding of the black spots and criminals hideouts across the state.
The new CP disclosed this at the Police headquarters, Osogbo, State capital on Friday, said he has directed all formations to draw up action plans to actualise missions that will instantly arrest prevalent crimes in their areas to the barest minimum.
Mohammed stated that during his stay in the state as chief law enforcer he will provide credible leadership that is professional and accountable to the people through intelligence-led, community-oriented.
He noted that he is open to constructive criticisms and welcomes all manners of suggestions that will aid his administration in providing better police services to the good people of Osun State.
He urged the residents of the State to join forces with the State Command to make the State a peace-haven for all.
He said, “This occasion offers me an opportunity to meet with you, the Fourth Estate of the Realm, and invite you to share in my mission of making Osun state a safe haven and home of peace for all who live and carry-on legitimate businesses therein. Together we shall all chart a good course in policing the State; and I therefore, solicit for your generous cooperation in sustaining the already existing strong synergy and good working relationship between you and the officers of the Command.
“I want to clearly state that as the chief law enforcer of the state, my mission is to bring to reality the vision of the Inspector-General of Police of zero tolerance to corruption, a secured environment for citizens to thrive, policing with International best practices, upholding the Rule of Law, and Respect for fundamental Human Rights of all citizens.
“All these I shall strive hard to achieve, especially with the support of team-spirited Officers and men I met in the Command, together with the cooperation of other security agencies in the state and stakeholders such as the traditional rulers, religious leaders, public spirited associations, students and youth leaders etc; as security is a collective responsibility. I have no doubt that, together we shall fight all criminal elements in the State to a standstill and Osun State will not be a safe haven for criminals to breed.
“In arrival, I received briefings on the security state of the Command, especially with respect to pockets of prevalent crimes such as: Cultism, Rape/ Defilement, Land Grabbing, Communal clashes etc.
“This will be immediately followed by a tour of the formations for on the ground/spot assessment of every locality within the state to ascertain their peculiarities, as I lead this mission of keeping the state safe, from the front,” the CP added.
News6 years ago
NLC, NUT shock El-Rufai with massive protest
Politics4 years ago
Implementation of N30,000 minimum wage depends on each State’s capacity -Governor’s Forum
Energy6 years ago
Cost reflective tariff, our challenge – Ikeja Electric
News8 years ago
Wema Bank awarded two ISO Certifications
News6 years ago
2019: OBJ lobbies Tinubu, Kwankwaso, Duke in new party
News8 years ago
10 dead, 4 rescued as shipping mall collapse in Ogun
News7 years ago
Relocation to Ghana: Nigeria to lose $12bn foreign airlines investments
News7 years ago
Ekweremadu visits Fani Kayode, Abati, others in EFCC cell