NAF Applauds Pension Reform Act, Pledges Collaboration With Stakeholders
By Sunday Etuka, Abuja
The Nigerian Air Force (NAF) has pledged to collaborate with relevant stakeholders in the pension industry to achieve the goals of the ongoing reforms, which it said have transformed the industry.
Chief of the Air Staff, Air Marshal Hassan Abubakar, made this pledge at the Annual Pension Correspondents Association of Nigeria (PenCAN) Conference and Awards Ceremony held on Thursday in Abuja.
TheFact Daily reports that the sector has grown assets to N20.87 trillion and Retirement Savings Accounts (RSAs) to 10.41 million since the Act was enacted in 2004.
Speaking in a goodwill message at the event, Air Marshal Abubakar said the Pension Reform Act has not only improved the livelihood of retirees but has also contributed significantly to the financial stability of both individuals and institutions.
He said that over the past two decades, the pension system has undergone transformative changes, and as a nation, the country has recorded significant milestones in ensuring that the hard-working citizens who have served the nation are duly rewarded during their retirement period.
“It is heartwarming to see the continuous drive towards strengthening the system and addressing the challenges that have surfaced along the way,” he said.
Represented by the Director, Veteran Affairs, Air Vice Marshall Chidi Obiabaka, the Air Force boss said, the NAF remains a committed stakeholder in the journey of pension reform, adding that it has worked diligently to ensure that the welfare of personnel remains a priority, even after they leave active service.
“We understand that retirement is not just an end but a transition to a new chapter in life. That’s why we take great care in managing the pension affairs of our personnel, ensuring that they receive the support they deserve when their time to retire comes. This mainly informed the establishment of Directorate of Veterans Affairs by the NAF in 2022,” he said.
According to him, the conference provided an invaluable platform for knowledge sharing, brainstorming, and collaboration.
“It is through platforms like these that we can map out future prospects and solutions to existing challenges in the pension system,” he said.
