Pension Fund Administrators in Nigeria (PFAs) pay a total of N3.4 billion to retirees monthly under the programme withdrawal system of Retirement Benefit payment while insurers pay a total of N917 million under the Annuity system, National Pension Commssion (PenCom) said in a statement as reported by THISDAY.
The Pension Fund Operators Association of Nigeria (PenOp) has urged workers to embrace the contributory Pension Scheme (CPS), insisting that the scheme remains one of the best things to have been bequeathed on workers who deserved comfortable lifestyle at retirement.
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