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PenCom raises alarm over distrustful plans to swindle retirees

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National Pension Commission, PenCom, has raised the alarm over fraudulent moves by scammers to swindle retirees.

In a public notice, entitled “Baware of Scammers”and made available to Daily Champion,the management of PenCom, drew the attention of the public to the circulation of scam messages and calls by unscrupulous individuals seeking to defraud unsuspecting retirees.

The fraudsters, who claim to be staff of PenCom,request for money to be paid into personal accounts in order to fast-track pension payments.

” PenCom hereby reiterates that its staff will never request for gratification, to facilitate any payment to retirees.

“More over, all payments due to retirees under the Contributory Pension Scheme,CPS, are made strictly into Individual Retirement Savings Accounts, RSAs, and processed by the Pension Fund Administratiors,PFAs”, the statement read in part.

Towards this end, the public has been urged to be cautious about the attempts by scammers,

advising retirees to seek clarifications from the Commission, where and when necessary.

Recall that the Federal Government had released the sum of N16.676 billion for payment of  accrued pension rights.

The amount would take care of the accrued rights of pensioners for 2021.

Government had earlier settled all arrears accrued pension rights payment of  verified and enrolled retirees up to December 2020.

Nigeria’s total pension asset rose by N123.47 billion in July 2021 to close at N12.78 trillion compared to N12.66 trillion recorded earlier.

Already, the net asset value of Nigeria’s pensions fund recorded a 0.98 per cent increase in the month of July 2021, while 22,349 RSA registrations were recorded in the same month,increasing total contributions to 9.4 million.

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