In accordance with the mandate of the Contributory Pension Scheme, CPS, the National Pension Scheme,PenCom South East zone has conducted a sensitization exercise at the Anambra Broadcasting Service Awka. ,
The exercise, held at the ABS Film Academy , was attended by members of the management and staff, led by Managing Director Sir Chido Obidiegwu.
The sensitization was carried out to enlighten employees on. the Contributory Pension Scheme, its objectives, benefits, and techniques, among others.
Onyinye Agubaeze reports that according to a resource person, Mr Nnamdi Duru, the Pension Reform Act of 2014 was designed to address implementation issues that arose during the 2004 act, which introduced new provisions such as the Pension Protection Fund, Additional Voluntary Contributions by the Employee to his or her Retirement Savings Account, RSA and increased the rate of contributions from 7.5% for both employees and employers to 10% for employers and 8% for employees.
Mr Duru mentioned that there is an upgrade for RSA holders to meet the Enhanced Contributors Registration System, standard, which is a prerequisite for Retirement Savings Account transfer.
He advised employees who registered with various Pension Fund Administrators from the CPS’s inception to 2019 to recapture in order to join the new, safer format.
Miss Tina Ekenta, the Head of Administration at Anambra Broadcasting Service, thanked the resource person for the lecture and promised that ABS management and staff will work to incorporate the new format.
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