By Emma Ujah, Abuja Bureau Chief
The Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, has said the proposed Pension Industry Infrastructure Fund is in the final stages of implementation as part of efforts to channel a portion of the industry’s over N32 trillion assets into infrastructure and the capital market.
She said: “The pension industry infrastructure fund is now in advanced stages for implementation. We already have a framework which has been deliberated upon, and we will go back and review it.”
According to her, “We also considered initiatives aimed at strengthening the industry’s participation in the capital market. The pension fund industry has probably the largest pool of passive, long-term capital in the country, so we need to be more engaged. The PFAs will return to their boards and stakeholders, and within the next one or two months we should be able to take a position on how to proceed.”
On contributors’ welfare, she said: “One of the key objectives we want to achieve is improving retirement outcomes for retirees. We continue to examine initiatives, both locally and globally, that can help us put more money in the hands of ordinary Nigerians while also improving pension literacy and awareness.”
