Ogun partners PFAs on database for pensioner

As part of measures geared towards ensuring effective pension fund management in the state, the Ogun State Government has partnered pension fund administrators managing its present workforce and retired workers on the establishment of database.

The State government also collaborates with pension fund managers on the mission to recover loans from indebted pensioners and ensure seamless operations of pension accounts in the state, with a view to ensuring quick and  regular payments of pension to pensioners.

Speaking at a meeting Pension Fund Administrators and by Bankers’ Committee in the state, Permanent Secretary, Ogun  State Bureau of Local Government Pension, noted that government would continue to map out strategies that would guarantee hitch-free pension administration.

While speaking on what prompted the establishment of database for pension administration, Kokumo said, “it won’t be tales of woes for retirees before getting their entitlements’’ saying it was like saving for the rainy day.

“But, I think people should be more interested in this because it has to do with our own money, it’s ignorant not to want participate, we may get to a point that we may have to invite or probably organise a workshop or training to educate themw and let them know the importance, so that they will be alive to their responsibilities”.

Responding, Bamidele Bashorun, leader of the PFAs delegation, urged respective clients to show more enthusiasm and concern to matters relating to their pension funds, saying that “it is all about their future’’.

BusinessDay reports that the bankers had earlier appealed to the Bureau to assist the banks in the area of loan recovery, adding that some civil servants who had collected loans and had retired, later moved their monthly pensions to other banks, thereby making it difficult to recover such loans.

Meanwhile, the Bureau of Local Government Pensions also assured the Bankers Committee of unflinching support in the discharge of its duty to the Bureau and pensioners, adding that the loans credited to indebted pensioners would be recovered in partnership with the Bankers’ Committee and Pension Fund Administrators.

RAZAQ AYINLA