Ineffective pension system; Acting CJN blames corruption over it

The Acting Chief Justice of Nigeria (CJN), Justice Walter Onnoghen has attributed the ineffectiveness of the nation’s pension system to corruption and poor application of existing laws.

…PENCOM DG seeks Judiciary’s support

He said the pension system will achieve its intended objective where players in the sector are guided by accountability and commitment to existing regulations.

Justice Onnoghen spoke in Abuja Thursday at a two-day sensitization workshop on the Contributory Pension Scheme (CPS) for Justices, judges and senior judicial officers, organised by the National Pension Commission (PENCOM).

“To consolidate this consciousness, we must support the Federal Government’s fight against corruption.

The Acting CJN said:”We owe a duty to this generation and generations yet unborn to help ensure that pensioners, who devoted their lives and strengths in the service of Nigeria, receive their pension benefits as and when due.

“Here lies the need for objectivity and impartiality by regulatory officials, accountability by pension administrators and transparency by pension fund custodians and other stakeholders,” he said.

Justice Onnoghen noted that some of the key challenges of the pension system include how well pension assets are managed; how well enabling laws and regulations are implemented; how well pensioner are treated, and how well the laws and regulations are fairly applied and interpreted.

“I must caution that technicalities by lawyers and attitudes of certain employers, pension administrators and pension custodians must, in no way, hamper the good objectives of the Federal Government,” Justice Onnoghen said.

He added that the successful resolution of the identified challenges will guarantee that every person, who worked in either the public or private sector receives his retirement benefits as and when due.

PENCOM’s Director General, Mrs. Chinelo Ahonu-Amazu explained that the workshop was intended to familiarise participants, particularly the Justices and judges on the innovative provisions of the Pension Reform Act (PRA) 2014.

“As it is with all new initiatives, the implementation process often results in certain challenges, and disputes may arise due to lack of adequate understanding of responsibilities on the part of stakeholders or misconstruction of the provisions of the Act.

“Furthermore, in the course of enforcing compliance on recalcitrant employers by the commission, some disputes emanate that are ultimately resolved in the courts.

She (Mrs. Chinelo Ahonu-Amazu) stated better understanding of the provisions of the new pension law by judicial officers will allow for prompt and effective resolution of pension disputes.

Heads of courts, at the event are – Justices Zainab Bulkachuwa (President, Court of Appeal), Ibrahim Buba (Chief Judge, Federal High Court) and Babatunde Adejumo (President, National Industrial Court) assured of their support in ensuring the realisation of the objectives of PRA 2014.

“Therefore, the important role of the Judiciary in ensuring that the pension reform remains on course and deepened, as enshrined in the PRA 2014 cannot be over-emphasised,” the PENCOM DG said.

Justice Adejumo, who noted that the support of lawyers was necessary to achieve success, suggested that PENCOM organise similar workshops for legal practitioners.

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