The National Pension Commission (PenCom) has commenced a pilot run of an online application which will automate the annual pre-retirement verification and enrolment of prospective retirees of Treasury-funded Federal Government Ministries, Departments and Agencies (MDAs).
The test-run of the application with real-time data, which has the capabilities to register, verify and enrol prospective retirees of Treasury-funded Federal Government MDAs begins today, (Monday) 2nd August and would end on 20th August 2021 with selected MDAs in the six geo-political zones and the Federal Capital Territory (FCT).
The application would go-live after the conclusion of the pilot run on a date to be announced by PenCom, accordingly, it said the online enrolment application would be hosted on PenCom website: www.pencom.gov.ng
The Commission added that “affected retirees/prospective retirees are required to undergo the data recapturing exercise with their respective Pension Fund Administrators (PFAs) as this is a pre-requisite for the online Enrolment”, explaining that “this entails updating their personal details and providing their National Identification Number (NIN)”.
Giving further details on the novel exercise, PenCom pointed out that “however, retirees/prospective retirees who have already undergone the data recapture exercise with their PFAs are not required to repeat the exercise”.
The emergence of the COVID-19 pandemic necessitated a review of business processes across various organisations; indeed, it has engendered socio-economic disruptions of the entire global order, with multifarious challenges in conducting hitherto routine activities.
“It was therefore, imperative for the Commission to deepen technological innovation as it seeks to navigate through the challenges imposed by the pandemic”, it further stated.
The development of an online application, by PenCom, which will automate the Annual Pre-Retirement Verification and Enrolment Exercise, therefore, is a timely way of repositioning the pension industry in the COVID-19 era and highlights the Commission’s laudable response to the pandemic through technology and relevant stakeholders’ engagement.