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Dogara Harps On Safety Of Workers’ Pension

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Speaker
of the House of Representatives, Mr Yakubu Dogara, has assured
senior citizens that the legislature will do all within its powers to
ensure that duly qualified professionals are put in charge of management
of their pension.

This
is just as he stressed that the welfare of retired personnel of the
Nigerian Intelligence Agency (N.I.A.), a highly respected security and
diplomatic agency that caters for aspects of Nigeria’s security needs
especially foreign intelligence, must be safeguarded through specific
methods.
Represented
by deputy chief whip of the House, Mr Pally Iriase, at a public
hearing on a bill to establish the Nigerian Intelligence Pension Board,
and for the Chartered Institute of Pension Practitioners of Nigeria, at
the National Assembly, the Speaker said it is one of the ways to ensure
that the well being of people who spent their prime serving Nigeria are
well taken care of in their older years.
He
said, “The legislature in Nigeria, being alive to its responsibilities,
regards the pension industry as a major contributor to the economic and
social well being of Nigerians. The well being of those who gave their
best to the nation at the prime of their lives must be taken care of at
the twilight of their lives. A well planned retirement with well managed
pension scheme should guarantee the good life for our senior citizens. A
well trained and professional pension practitioners have a huge role to
play in achieving the above goals.

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“The
Pension industry in Nigeria today is worth over 6.2 Trillion Naira
(Nov. 2016). It comprises funds belonging to workers, employers of
Labour and investors. It is too important a subject, and the size of
funds involved, too big not to have some form of Regulation by its
practitioners. There is therefore an urgent need for a regulatory
framework to guide practitioners in the industry.”
Going
further, he noted that though the Nigerian Intelligence Agency (N.I.A.)
is a highly respected security and diplomatic agency that caters for
aspects of Nigeria’s security needs especially foreign intelligence, the
appropriate method of guaranteeing their pension is yet to be
determined, which is why the House has invited relevant stakeholders to
assist in drawing up one.

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