Guardian

IN an effort geared towards ensuring that members live a decent life after retirement, the leadership of the IBB International Golf and Country Club, in conjunction with the Nigeria Pension Commission, recently organised a workshop to educate its members on the need to operate a good pension scheme.

The workshop, which featured the Acting Director General of the Nigeria Pensions Commission (NPC), who was represented by Farouk Aminu of the NPC, witnessed a number of club members praising the new leadership of he club for organising the lecture, noting that it would help in shaping the future of members.

Aminu in his lecture with the theme, Pension Administration in Nigeria in the 21st century: Gains, Challenges, and Prospects, took members on the importance of the scheme, noting that the public sector operated Defined Benefit Pension Scheme (DB) was unfounded.

He said the scheme was marred with weak, inefficient and poor management, which according to him, leads to financial mismanagement, as well as painful and endless annual physical verifications with lack of timely payments.

He regretted that the private sector has been running a pension scheme filled with low coverage and compliance, which, he noted, has left most workers with an inadequate and low retirement benefits.

In his opening remarks, the Chairman of the club, Debo Olateju, who was represented by the vice chairman, urged members to be serious with their pension schemes, adding that the lecture would provide opportunities for members to hear from the pension regulators on how to manage their life after retirement.

Earlier in his speech, the secretary of the IBB Golf Club and Chairman of the editorial and Lecture sub-committee, Mazi Emmanuel Onyema, noted that the event was one of he series of monthly lectures, which the leadership has organised to educated members on their public life.

He assured that the committee would continue to bring on monthly basis stakeholders from both the public and private sectors of the economy to inform members about issues concerning their lives.

“What we are trying to do as a sub committee is to exchange ideas with the regulators and members to be educated on various issues both in the private and public sector of the Nigerian economy.

“They will come here every month to educate our members on what is going on in their sectors,” he said.