University pension nets N12.5b in two years

The Nigerian University Pension Management Company Limited (NUPEMCO) has a net contribution of N12.5 billion from university staff in less than two years.

The leader of NUPEMCO delegation, Aliyu Atiku, said  this in Abuja on Friday when NUPEMCO officials paid a courtesy visit on the Minister of Education, Mallam Malam Adamu.

Atiku expressed delight that the universities were responding positively to the call for investment in and ownership of NUPEMCO. He also expressed satisfaction that the Academic Staff Union of Universities (ASUU), the principal partner and owners of the majority shareholding, are responding positively to NUPEMCO in terms of contributions by members of the union.

While lamenting the low cooperation from some universities, Atiku appealed to the minister to intervene and ensure that all universities in Nigeria invest in NUPEMCO.

Responding, Education Minister, Malam Adamu Adamu, charged NUPEMCO to treat the retirees equally. Adamu also called on the leadership to use Pencom contributions judiciously to ensure that retirees start receiving their pensions immediately after retirement.

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He advised  NUPEMCO to be transparent in their administration of pension funds so that when others see the seriousness of NUPEMCO as a viable Pension Fund Administrator (PFA) they would have no choice but to join.

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