The Federal Government on Thursday commissioned the Abuja School of pension to deepen qualitative pension administration in the Nigeria.
Aisha Dihir-Umar, Director General, National Pension Commission speaking at the commissioning ceremony in Abuja said that understanding the pension industry has become a catalyst and propeller for economic development, there is need to promote capacity building that meets the requirements of pension administration in Nigeria.
“Our expectations from the school is to present and provide quality training to build the capacity that suits the requirement of the pension industry”.
She explained further that the school of Pension and Retirement planning was set up to advance academic pursuit and define career road-maps in the industry as well as assist Nigerians to prepare for a fulfilled retirement.
Musa Abdulahi Ibrahim, Founder, Abuja School of Pension and Retirement planning, said that the vision for Abuja pension school was birthed in response to the tremendous growth, increased sophisticated and far reaching implication of pension as a means of livelihood to millions of Nigerians and its role of financial inter-mediation and catalyst of economic development.
Speaking further, Ibrahim stressed that the importance of the school cannot be over emphasized at such time when the pension industry involves over 8 million retirement savings account holders, adding that the pension funds and assets constitutes significant proportion of the Nigeria financial system.
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“The pension industry involves over 8 million retirement savings account holders, with an average of 7 dependents per holder, that amount to about 56 million Nigerian, The pension funds and assets also constitutes a significant proportion of the Nigerian financial system”.
Ibrahim further noted that the commissioning of the school marks a significant milestone in the Nigerian educational development plans, especially in the acquisition of vital skills, capability and capacity in pension related disciplines.
Speaking on the scope of the studies, Ibrahim said Pension is a multidisciplinary subject and has a cross- curricular themes that covers pension administration, management, and distribution of of contributors fund.
Masoud Kazaure, executive secretary, National Board for Technical Education, NBTE, said that the school is aimed at building the capacity of Nigerians to meet the need of the rising population of Nigeria in the provision of retirement benefits and generating tremendous growth in economic activities and infrastructure projects.
He said, “With the implication of the pension and retirement planning in people’s lives and the economy, it is time we carry out formal training based on a national curriculum in accredited institutions”.
Kazaure speaking further said that the Abuja school of pension and retirement planning was conceived and developed using the NBTE guidelines, with pre-critique curriculum development workshop by experts and stakeholders for academic standards in the National Diploma and Higher National Diploma programs in pension administration and management.
He said, “Led by NBTE and selected experts including representatives of pencom, a week long National curriculum workshop was held on the ND and HND pension administration and management programs”.
“Having become a National/ legal document, the ND and HND programs in pension administration and management would no doubt provide the required manpower in all sphere of administration and management of pension related issues in the country”, he added.
Cynthia Egboboh, Abuja.
