The National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to temporarily waive the provision of National Identity Number (NIN) for retirees undergoing data recapture exercise.
FollowIng the directive in 2018, all Retirement Savings Account(RSAs) holders, both active and retired, were required to approach their PFAs to provide their NINs and Bank Verification Numbers, as well as other mandatory biodata information, to gain access to their pension..
But a circular signed by the Commission’s Head of Surveillance Department, Ehimeme Ohioma, to all pension fund administration(PFAs), PenCom directed that all requirements be temporarily waived.
According to the commission, the waiver was necessary following the challenges being experienced by retirees in providing required documents for the processing of their benefits due to the COVID-19 pandemic.
“The attention of the National Pension Commission has been drawn to the challenges being experienced by retirees in providing some required documents for processing of their benefits due to the COVID-19 pandemic and lockdown by the Federal Government of Nigeria.
“Accordingly, it has become necessary for the commission to issue the following guidance to operators for the processing of retirement benefits during this period.”
The commission also directed the PFAs to suspend the provision of retiree indemnity form, which was a requirement for voluntary retirees of the federal government.
The commission clarified that “Respective courts have implemented alternative measures in respect of all their activities, including the functions undertaken by the commissioner of oaths.
“Therefore, voluntary retirees shall explore alternative windows available in respective courts to obtain the endorsement of the commissioner of oaths on the retiree indemnity form.”
PenCom also directed all PFAs to update the records of their clients.