Course Overview

The Federal Government of Nigeria has embarked on pension reforms in both the public and private sectors of the Nigerian economy. The purpose of the reforms is partly to shed the burden of pension payment liabilities, harmonize pension schemes in both sectors of the economy, ensure viable investment of pension funds and effect prompt payment of pension benefits.

Course Overview

The Federal Government of Nigeria has embarked on pension reforms in both the public and private sectors of the Nigerian economy. The purpose of the reforms is partly to shed the burden of pension payment liabilities, harmonize pension schemes in both sectors of the economy, ensure viable investment of pension funds and effect prompt payment of pension benefits.

 The reforms have created mixed feelings among Nigerian workers. There was at the outset a strong feeling among a segment of the workforce that they may lose out in the current dispensation of reforms. There is no doubt that the new pension scheme has come to stay. It is necessary to have an informed dialogue on the new pension scheme and its benefits to the workers, the employers and the Nigerian economy.

Workshop Objective

Retirement is within reach and it's time to get serious about it! This workshop will shed more light on the administration of benefits, deductions and management of employees’ entitlement under the contributory pension scheme. It will also provide you with the information and resources you need to help you map out your retirement plan and introduce you to post-retirement Strategy.

Workshop Outline

Topics discussed during this workshop include:

• The New Pension Reform (2014): An Overview
• Best practice for the administrative of contributory pension scheme
• Prospective retiree – what documents they should keep ready,
• Retirement planning,
• What group life assurance is all about and how to access it, including the period of coverage.
• Implementation of Life Insurance Policy under the Pension Reform Act (PRA) 2014
• The new method of Pencom enrollment- online enrollment,
• Benefits in contributory pension scheme,
• Retirement Benefits in the New Reform
• Annuity and program withdrawal

Who should attend? 

Bursars, Pension Desk Officers and Managers, Head of Personnel, Heads of Payroll, Human Resource Managers, Pension Fund Administrators, Pension Regulatory Agency, Accountants, Auditors, and others who perform related functions in both Public and Private Sectors

Methodology:

Lecture, discussion, group work, case study and exercises. Audio-visual aids will be used to reinforce these learning methods.