…As pensioners seek probe of TrustFund
By KELECHI MGBOJI
Raging cold war among top management of the National Pension Commission (PENCOM) may have destabilized the organization with the consequence that the top management staff are now divided along two major factions.
Against this background, the needed input to address critical data management as well as other management decisions are now begging for attention several months after the new Acting Director General, Mrs. Chinelo Anohu-Amazu, assumed office.
The Nigerian NewsDirect gathered from impeccable source that government appointed the new acting DG who until her appointment was the Commission’s Secretary and Legal Adviser and was junior in ranking but by virtue of the appointment now heads some erstwhile senior colleagues.
Disenchanted with the development, commissioners of some departments who insist on orderly succession according to seniority are said to be working at cross purposes with the new leadership believed to lack sufficient experience needed to head the commission.
Our insider source disclosed that former commissioners of PENCOM who are interested in becoming its substantive Director-General are now using the disgruntled elements to route for the acting DG’s job.
While alleging the acting DG lacks needed professional skills and 20 years cognate experience in pension matters, our source said that the capability of Pencom as presently constituted to supervise the management of about N3.5 trillion large pool of funds is seriously in doubt.
This is coming on the heels of calls by a group of Pensioners under NSITF Contributory Pension Scheme (PNCPS) on the national assembly to probe activities of Trust Fund Pension Plc to unravel the circumstances surrounding the misrepresentation of facts contained in their bio-data submitted to PENCOM.
They also called for the restructuring of the National Pension Commission (PENCOM) and the Trust Fund Pension (TFP) Plc alleging that both institution are grossly incompetent to manage and superintend over sensitive pension funds.
However, PENCOM's Head of Corporate Communication, Emeka Onuorah, denied saying there was no infighting of any kind within the Commission insisting that normal activities are going on in the organisation.
According to Onuorah,the Acting DG is competently transforming the Commission, opening up new offices accross different geopolitical zones of the federation where where non existed before now including Lagos State.
But the pensioners whose monthly pensions have been withheld for over 14 months point accusing fingers at both PENCOM and Trust Fund Pension alleging that information regarding their personal bio-data was ostensibly falsified to stop their monthly pension.
They also alleged that in-fighting among top management of PENCOM has hampered effective operation of the commission particularly as regards data management of private sector contributory pension scheme inherited from Nigeria Social Insurance Trust Fund (NSITF).
Leader of the PNCPS, South-West Zone, Mr. Jacob Adeusi told Nigerian NewsDirect that there were more than 800 of them whose monthly pensions have been stopped by PENCOM on the premise that they were conducting verification since May last year.
According to Adeusi, Trust Fund wrote the pensioners in August last year stating: “Payment of your pensions was delayed due to a verification and reconciliation exercise being carried out by PENCOM. All arrears would be paid soonest. We apologise for all inconveniences.”
When contacted, Trustfund said that they suspended the pensioners’ monthly pay because PENCOM refused to approve the payment and promised that once the regulator gives its approval, the arrears running into millions of naira would be promptly paid.
Our investigations revealed that NSITF has since indemnified PENCOM in the event that payment is made to wrong persons. According to the Lagos regional manager of Trustfund, Mr. Joe Chukwujindu, NSITF signed the indemnity bond to guarantee all payments to the verified pensioners.
Confirming the signing of the indemnity bond, PENCOM Head of Corporate Communications, Emeka Onura, told NewsDirect that the bond was of no effect claiming that the retirees were under-aged and therefore never qualified as at the time they started drawing pensions.
According to Onuorah, Adeusi’ documents in custody of PENCOM, and those of other pensioners said to have been submitted by Trustfund for the purpose of the verification exercise suggest that they never attained the age of 50 before they retired.
Mr. Jacob Adeusi who was born in 1943 and started working before 1965 was however said to have been born in 1973. Onuorah said it was for that reason PENCOM turned down Trust Fund’s application on behalf of the pensioner with pin number 95-99-04063784-0.
“Adeusi’s application filed by TrusFund was turned down because he was discovered to have been born in 1973 and as such never attained 50 years of age as at the time he started drawing pension,” Onuorah said.
PENCOM further claimed that the pensioner did not attain what they described as 120 credit months, and could not have qualified for the pension. In other words, the pensioners were being paid pension in error and therefore had to be stopped.
Another pensioner, Tiamiyu Ayinla, with NSITF pin number 95-99-15356880-1 was also said to be under aged as at the time he started drawing pension. Ayinla who is much older than Adeusi was however said to have qualified in terms of attainment of 120 credit months.
PENCOM claimed that its position on the issue was based on information contained on the documents of pensioners submitted by Trustfund, insisting that the NSITF indemnity bond signed to guarantee payment might was of no consequence after all.
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