April 09, (THEWILL) – The National Pension Commission (PenCom) has warned members of the public against activities of an illegal group involved in unlawful activities concerning retired workers pension benefits.
The group which goes by the name, Association of Pension Desk Practitioners of Nigeria (ASSOPEP) claims to assist with matters relating to pension and other benefits of retired workers.
PenCom in a statement on Friday warned the Nigerian public to take cautious steps in seeking guidance on retirement workers’ benefits noting.
It added that the activities of the group are illicit. It also denied the association’s claims of affiliation with the pension industry.
The statement read: “The general public is kindly requested to note that the claims by ASSOPEP are entirely false as the association has no affiliation with the pension industry or authorisation of any kind whatsoever from PenCom.
“Moreover, licensed pension fund operators (LPFOs), who are statutorily mandated to undertake the processing and payment of retirement benefits, are not associated with ASSOPEP in any way.
“PenCom, therefore, urges the general public to be cautious of any promise or claim made by ASSOPEP regarding pension and retirement benefits or any other matter relating to the pension industry in Nigeria.
“The commission strongly advises workers, retirees, pension desk officers, and everyone approached by the association with claims of consulting with their pension fund administrators (PFAs) and PenCom for guidance and assistance in respect of their retirement benefits to exercise caution as any interaction with the association is at the individual’s risk.”
The apex pension regulatory body said it has reported the illicit activities of ASSOPEP to the law enforcement agencies for appropriate action.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
