Trustfund educates desk officers on best pension practices

The session, which was a collaboration between Trustfund and Zenith Pensions Custodian Limited, held in Abuja, and was attended by desk officers drawn from all states of the north central geopolitical zone.Chief Compliance Officer of Trustfund Pensions Rachael Obi who anchored the event said it became necessary because of a prevailing “knowledge gap” between operators […]

The session, which was a collaboration between Trustfund and Zenith Pensions Custodian Limited, held in Abuja, and was attended by desk officers drawn from all states of the north central geopolitical zone.
Chief Compliance Officer of Trustfund Pensions Rachael Obi who anchored the event said it became necessary because of a prevailing “knowledge gap” between operators and employers correctly remitting contributions on a monthly basis.
Obi said that mistakes made at the point of depositing contributors’ funds at the banks, mean that such contributors may face challenges upon retirement when they want to access their savings.
“We want a situation where every day, we can reconcile our accounts, say okay, this money has been remitted today and every kobo is traced to a contributor.  We want to be able to operate like the banks in this regard. That is what prompted us to bring our desk officers.
She added that the interaction was to “create an avenue for the sensitization of employers on modalities for remittance of contributions and other pension issues relating to the individual contributions of the employer.
“It will also educate employers on their regulatory responsibilities in accordance with the Pension Reforms Act of 2014 and to minimize the growth of un-reconciled contributions and transitional contributory funds.”