By Dayo Omoogun
The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have signed off the Revised Regulation
on Retiree Life Annuity, the Guidelines on Group Life Insurance Policy for Employees and Contributory Pension Scheme (CPS) Retiree Pack.
The event which held Tuesday in Abuja also included the signing of a Memorandum of Understanding between the two Commissions.
The National Pension Commission in its statement explained that the ” revised Regulations and Guidelines provide clarity on the Provisions of the Pension Reform Act (PRA) 2014 in areas relating to Retiree Life Annuity with focus on guiding stakeholders to make an informed decision, ensure the safety of Retiree Life Annuity funds and assets, address concerns of mis-spelling and de-marketing by pension and insurance operators as well as bringing stability into the financial sector of the economy”.
“Today’s landmark event is the outcome of the collaborative efforts of PenCom and NAICOM”, the statement said.