Ibrahim Ibrahim
The Jigawa State and Local Governments Contributory Pension Scheme Board has signed agreements with six reputable Pension Fund Administrators (PFAs) to enhance the management of the state’s pension funds.
This was contained in a statement issued by the Public Relations Officer, Office of the Head of the Civil Service, Ismaila Ibrahim.
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According to the statement, the state Head of Civil Service, Alhaji Muhammad K. Dagaceri, explained that it’s part of the government’s commitment to securing the financial future of retirees and improving the transparency and efficiency of pension fund management
“This agreement marks a significant step in our efforts to ensure retirees receive their entitlements promptly. Partnering with these esteemed Pension Fund Administrators will not only safeguard pension funds but also enhance their growth and sustainability,” he stated.
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Executive Secretary of the Board, Dr. Bilyaminu Shitu Aminu, said the six selected PFAs, chosen through a rigorous vetting process, include Premium Pension Fund (lead PFA), PAL Pension, GT Pension, NLPC Pension, Norrenberger Pension, and Crusader Sterling Pension.
These administrators will provide investment strategies, performance monitoring, and enhanced customer services to optimize returns on pension contributions.
Dr. Bilyaminu Shitu Aminu explained that the funds were distributed among the PFAs based on their track records, particularly their ability to generate returns on investment. The highest allocation was set at 20%, while the lowest was 16%.
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The Managing Director of Premium Pension Fund, Hamisu Bala Idris, speaking on behalf of the PFAs, assured the board of strict adherence to the agreement, particularly in ensuring favorable returns on investment.
He described Jigawa’s pension scheme as the best in the country.