The National Pension Commission (PenCom) and pension industry operators are set for increased voluntary consolidation which is welcomed as route to a strong pension industry.
The Director General PenCom, Mrs. Aisha Dahir-Umar who was represented by Ehimeme Ohioma, Director Surveillance at the 2022 Madia Parley hosted by Pension Operators of Nigeria (PenOp)last weekend in Lagos, said increased voluntary consolidation would lead to increased healthy competition.
He remarked that two pension fund administrators PFAs have requested and got approval for voluntary consolidation, and intoned that merger was the way forward to have a strong pension industry.
Ohioma also said the Commission with the operators on same platform are prepared for a revamped approach for resurgence in the informal sector.
He promised that there would be a lot of activities that would address its peculiarity and steadily and consistently grow the informal sector.
He said the pension industry is strong on regulation as well as equally strong industry players. In addition, he said operators are committed to enhanced service delivery and more incentives are coming to grow the industry.
