Pensioners’ data recapture process is order of PENCOM says Wale Odutola

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“No data recapturing, No more payment of pension claims”

The Pension Fund Operators Association of Nigeria (PenOP), have promised to maintain strict adherence to proper data capturing in order to forestall multiple registrations by pensioners which characterised past exercises.

In a statement, the head of Communication and Managing Director of ARM Pension, (PenOp), Mr Wale Odutola, said the data recapture process was mandated by the National Pension Commission (PENCOM).

“At present, we have about 9 million contributors but among that figure, we have cases of people having multiple pins.

“So the whole idea of this data recapture is to manage the industry such that people are uniquely identified so that when we pay, we are sure that we are paying the right people.

“With the recapture, we are going to use the national identification number (NIN) as the unique identifier for contributors. The NIN is now linked to BVN so there is no risk that we will pay the wrong person.

“It’s a major project and everyone has to be re-enrolled. It took us quite a while to enrol the 9 million people that we have so imagine the work we have to do to do it all over again.”

When asked if there would be a deadline for the data recapture process, Odutola said a deadline could be deployed.

In the same vein, the PenOp and Managing Director of Headway Assurance, Ronke Adedeji, noted that as banks through enforcement, were able to achieve BVN compliance, the pension industry would need to keep to deadline.

“Because we have a lot of people to capture, we are considering engaging a third-party service provider to fast-track the process. So to everyone out there, the earlier you do it, the better.”


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