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Another major honour as PENCOM scores FCTA 100% for unfailing remittances, others

7th Oct, 2019 | By Felix Durumbah | ||

Another plume was added to the much-decorated cap of Federal Capital Territory Administration (FCTA) as National Pension Commission (PENCOM) scored the Administration 100 per cent, among states in the country, for full compliance with implementation of the Contributory Pension Scheme (CPS).

The cheery news is coming as Minister of State, FCT, Dr. Ramatu Tijjani Aliyu will headline a distinguished galaxy of stakeholders for the FCT pension stakeholders retreat this week. Disclosing these exclusively to Abuja Digest Weekly, Director, FCT Area Council Staff Pension Board (ACSPB), Mr. Nanzing Nden said the PENCOM honour for FCTA came during the regulatory body's forum for states which held in Owerri, Imo State capital, on 25 September this year.

According to him, PENCOM adopted certain criteria in its state-by-state review to arrive at its conclusion. One, he said, was in the area of unfailing remittance of employer and employee deductions. Another was in establishment of pension bureaus, with FCTA having two such---ACSPB and FCTA Pension Department. Mr. Nden explained: ''It will interest you to know that the National Pension Commission, after an assessment of states, the relationship of states to the implementation of the Contributory Scheme, has scored FCT a hundred percent in all areas of review.

''Those areas are stages of implementation of the CPS and FCT is among other few states that is compliant. In respect of states with pension bureaus, the FCT has established two bureaus, which are the FCT Area Council Staff Pension Board and FCT Pension Department. ''In respect of states that are remitting employer and employee contributions, FCT ranks among several other states in the implementation 100 per cent. In respect of states' actuarial evaluation report, FCT with several other states is implementing an actuarial evaluation.

''Then in respect of availability of retirement bond fund account by FCT, this is being implemented for the FCT Pension Department but FCT Area Council Staff Pension Board has not opened its own retirement bond account. Of course, PENCOM has given us a deadline of September 30 to implement retirement bond fund savings account in respect of Area Council Pension Board payment.'' The Director added that: ''In respect of funding of accrued rights, FCT among six other states are funding accrued rights and paying accrued rights. In respect of payment of pension and the CPS, FCT is paying its monthly pensions and other contributory payments among other five states.

''In respect of value assurance scheme, FCT and only two other states are compliant in this regard. So, talk of all these eight or nine areas of assessments, FCT is scoring one hundred per cent and it is heartwarming to know that what the Honourable Minister started is yielding a lot of fruits now.'' Asked to explain why the retirement bond account issue has not been executed for the board, the Director said: '' At the last PENCOM inspection in April this year, the report indicated that the FCT Area Council Staff Pension Board does not have an account but the FCT Pension Department has its own account. So this is a legal issue under the Pension Reform Act which provided that the FCT Area Council Pension Board should operate an account with the CBN for the purpose of payment of contribution.

''Currently, what is happening is that we pass all our payments to the Treasury for implementation. We do not have problems with the Treasury in respect of our payments, but it is the legal provision and PENCOM is insisting that we must have our own account being an agency of the Federal Government. I have already briefed the Honourable Minister of State at a briefing by the FCT Department of Pension concerning this matter.'' He lauded FCTA for enabling the board to operate a paperless work environment through automation of some of its various activities, saying the development has made document management as well as access to retirees' documents and other matters safer, durable and easier.

''We are grateful to the FCT Administration for three consultancy projects which will really take the FCT Area Council Pension Board operations to a very high level in compliance with what PENCOM requires, In fact, at the last visit of PENCOM here, they showered praises on the FCT Area Council Staff Pension Board and asked states to borrow a leaf from FCT. Ondo state came, stayed with us for two weeks to understudy what we are doing here. Other state governments have indicated interest in same,'' he disclosed further.

On the retreat, in which PENCOM is principal stakeholder, Mr. Nden said the Minister of State will be guest of honour at the event which brings together major stakeholders such as the six Area Council Chairmen, Auditor-General for Area Councils, PENCOM officials, FCT Area Council Staff Commission and many others who are expected to present strategic papers relating to progress on pension administration.

News Update

Sultan of Sokoto, His Eminence Alhaji Muhammad Sa'ad Abubakar III, has commended the Minister of Federal Capital Territory (FCT), Malam Muhammad Musa Bello for his efforts in giving the Territory a befitting status as the capital of Nigeria.

The Administration's Health and Human Services Secretariat (HHSS) last week officially launched the FCT Health Sector Resource Mobilization Plan (2018 - 2022).

Climate change is one of the biggest threats facing humanity, as extreme weather events present risks of death, health, and damage to relevant infrastructure.

Minister of Federal Capital Territory (FCT), Malam Muhammad Musa Bello, has said that the reinvigorated road traffic policy is intended to save lives on the roads and not to inflict hardship on residents of FCT.

Federal Capital Territory Administration (FCTA) last week began enforcing the restriction of tricycle operations within the Federal Capital City (FCC).

FCT Minister of State, Dr. Ramatu Tijjani Aliyu, has assured that the Administration is committed to the establishment of Special Agro-Industrial Processing Zone, as a step towards achieving Mr. President agenda of lifting 100 million youth out of poverty in the agricultural value chains.


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