Ahmed Advocates Transparency in Pension Administration

Source: pointblanknews.com

The Kwara State Governor, Dr Abdulfatah Ahmed has called on Pension administrators to institutionalize transparency  in order to sustain public confidence in pension funds as investment instruments.

Governor Ahmed who made the call during the official opening of the North-Central zonal office of the National Pension Commission in Ilorin, noted that like most investment products, pension schemes need to retain the trust of the investing public in the integrity of the service in order to sustain patronage.

'In doing this, we will not only ensure a positive public perception of the scheme but also attract more profitable investment in pension instruments', he added.

Governor Ahmed disclosed that the contributory pension scheme will be introduced in Kwara State as soon as the State legislature passed the draft bill on the scheme.

The Governor noted that the fact that the contributory pension scheme in just nine years was able to generate a pool of investible funds to the tune of N3.2trillion was commendable.

Dr Ahmed was optimistic that the establishment of the North-Central Zonal office will enable states in the zone to key into the contributory pension scheme as soon as possible.

The Acting Director General, National Pension Commission, Chinelo Anohu-Amazu, in her address said the establishment of zonal offices in all the six geo-political zones of the country was designed to bring the commission's activities closer to the contributors and retirees.